Culture In Financial Services â A Regulatorâs Perspective -...
It is good to be at City Week again. Also, congratulations on the welcome approach to the geography of City Week – bringing it to the Oval means that for those of us who live south of the river, we...
View ArticleZombies-To-Be and the Walking Dead of Debt
Using the dynamics of creditâwhich most other economists ignoreâI explain why Japan, the USA and UK are among the âWalking Dead of Debtâ and why China, Canada, Australia and South Korea are on...
View ArticleSolactive And Bluestar Launch The Israel Economic Exposure Indexes - Unique...
By launching the Solactive-BlueStar Israel Economic Exposure Index (IEEI) family, Solactive AG and BlueStar Indexes introduce an innovative pair of indexes designed to reflect the segmentation of the...
View ArticleThe Great Recession in the Shadow of the Great Depression: A Review Essay on...
This essay reviews Barry Eichengreen's recent book that compares the Great Depression and the Great Recession. Eichengreen focuses on deficient aggregate demand as the key reason for why both downturns...
View ArticleDigital Currencies, Decentralized Ledgers, and the Future of Central Banking...
Central banking in an age of digital currencies is a fast-developing topic in monetary economics. Algorithmic digital currencies such as bitcoin appear to be viable competitors to central bank fiat...
View ArticleTechnology and Education: Computers, Software, and the Internet -- by George...
A substantial amount of money is spent on technology by schools, families and policymakers with the hope of improving educational outcomes. This paper explores the theoretical and empirical literature...
View ArticleGlobal Production with Export Platforms -- by Felix Tintelnot
Most international commerce is carried out by multinational firms, which use their foreign affiliates both to serve the market of the host country and to export to other markets outside the host...
View ArticleImpacts and Determinants of Health Levels in Low-Income Countries -- by...
Improved health in low-income countries could considerably improve wellbeing and possibly promote economic growth. The last decade has seen a surge in field experiments designed to understand the...
View ArticleMoral Costs and Rational Choice: Theory and Experimental Evidence -- by James...
The literature exploring other regarding behavior sheds important light on interesting social phenomena, yet less attention has been given to how the received results speak to foundational assumptions...
View ArticleMaternal Education, Parental Investment and Non-Cognitive Skills in Rural...
The importance of non-cognitive skills in determining long-term human capital and labor market outcomes is widely acknowledged, but relatively little is known about how educational investments by...
View ArticleNon-durable Consumption and Housing Net Worth in the Great Recession:...
In an influential paper, Mian, Rao and Sufi (2013) exploit geographic variation in housing supply elasticities to measure the effect of changes in the housing share of net worth on total household...
View ArticleDemocracy for Polarized Committees: The Tale of Blotto's Lieutenants -- by...
In polarized committees, majority voting disenfranchises the minority. Allowing voters to spend freely a fixed budget of votes over multiple issues restores some minority power. However, it also...
View ArticleMacroeconomics of Persistent Slumps -- by Robert E. Hall
In modern economies, sharp increases in unemployment from major adverse shocks result in long periods of abnormal unemployment and low output. This chapter investigates the processes that account for...
View ArticleParental Responses to Child Support Obligations: Evidence from Administrative...
We leverage non-linearities in Danish child support guidelines and rich administrative data to provide causal estimates of parental behavioral responses to child support obligations. We estimate that a...
View ArticleWhat Do Test Scores Miss? The Importance of Teacher Effects on Non-Test Score...
This paper extends the traditional test-score value-added model of teacher quality to allow for the possibility that teachers affect a variety of student outcomes through their effects on both...
View ArticleIdentifying Ambiguity Shocks in Business Cycle Models Using Survey Data -- by...
We develop a framework to analyze economies with agents facing time-varying concerns for model misspecification. These concerns lead agents to interpret economic outcomes and make decisions through the...
View ArticleOptimal Capital Controls and Real Exchange Rate Policies: A Pecuniary...
A new theoretical literature studies the use of capital controls to prevent financial crises in models in which pecuniary externalities justify government intervention. Within the same theoretical...
View ArticleDeposit Insurance: Theories and Facts -- by Charles W. Calomiris, Matthew...
Economic theories posit that bank liability insurance is designed as serving the public interest by mitigating systemic risk in the banking system through liquidity risk reduction. Political theories...
View ArticleThe Effect of Single-Sex Education on Academic Outcomes and Crime: Fresh...
In 2010, the Ministry of Education in Trinidad and Tobago converted 20 low-performing pilot secondary schools from coed to single-sex. I exploit these conversions to identify the causal effect of...
View ArticleCompulsory Voting, Turnout, and Government Spending: Evidence from Austria --...
We study a unique quasi-experiment in Austria, where compulsory voting laws are changed across Austria's nine states at different times. Analyzing state and national elections from 1949-2010, we show...
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