Are the Rich More Selfish than the Poor, or Do They Just Have More Money? A...
The growing concentration of resources among the rich has re-ignited a discussion about whether the rich are more selfish than others. While many recent studies show the rich behaving less...
View ArticleThe Making of Hawks and Doves: Inflation Experiences on the FOMC -- by Ulrike...
We show that personal experiences of inflation strongly influence the hawkish or dovish leanings of central bankers. For all members of the Federal Open Market Committee (FOMC) since 1951, we estimate...
View ArticleDissecting Characteristics Nonparametrically -- by Joachim Freyberger,...
We propose a nonparametric method to test which characteristics provide independent information for the cross section of expected returns. We use the adaptive group LASSO to select characteristics and...
View ArticleThe Investment CAPM -- by Lu Zhang
A new class of Capital Asset Pricing Models (CAPM) arises from the first principle of real investment for individual firms. Conceptually as "causal"' as the consumption CAPM, yet empirically more...
View ArticleShock Restricted Structural Vector-Autoregressions -- by Sydney C. Ludvigson,...
Identifying assumptions need to be imposed on autoregressive models before they can be used to analyze the dynamic effects of economically interesting shocks. Often, the assumptions are only rich...
View ArticleEarnings Inequality and Mobility Trends in the United States: Nationally...
Using earnings data from the U.S. Census Bureau, this paper analyzes the role of the employer in explaining the rise in earnings inequality in the United States. We first establish a consistent frame...
View ArticleGlobalized Israel: High Tech Prowess and Buttressing FDI -- by Assaf Razin
The paper reviews the crucial role which globalization forces played in Israel's transformation from low tech to high tech economy. Special emphasis is placed on foreign direct investment as a driver...
View ArticleMeasures of Participation in Global Value Chains and Global Business Cycles...
This paper makes two methodological contributions. First, it proposes a framework to decompose total production activities at the country, sector, or country-sector level, to different types, depending...
View ArticleWhy is Growth better in the United States than in other Industrial Countries...
Although the official statistics imply that the rate of growth of real GDP in the United States has declined in recent years, it has still been substantially higher than the real growth rates in Europe...
View ArticlePartial Fiscalization: Some Lessons on Europe's Unfinished Business -- by...
The recent Eurozone crisis of 2010-2013 has brought to the fore the argument that a successful monetary union needs to be combined with a fiscal union. The history of the U.S. monetary/fiscal union is...
View ArticleThe Economist as Plumber -- by Esther Duflo
As economists increasingly help governments design new policies and regulations, they take on an added responsibility to engage with the details of policy making and, in doing so, to adopt the mindset...
View ArticleHong Kong's Securities And Futures Commission: Statement On Recent GEM...
1. On 20 January 2017, the Securities and Futures Commission (SFC) issued a guideline (Guideline) to sponsors, underwriters and placing agents involved in the listing and placing of GEM stocks...
View ArticleDFM Company Shareholders Approve 2016 Financial Statements - The Shareholders...
The shareholders of Dubai Financial Market Company (PJSC) have approved the Balance Sheet and Income Statement for the financial year ending 31 December 2016, during the Annual General Meeting held on...
View ArticleWorld Federation Of Exchanges Responds To FSBâs Consultative Document...
The World Federation of Exchanges (“WFE”), which represents more than 200 market infrastructure providers including exchanges and CCPs, has responded to a consultative document from the Financial...
View ArticleForeign exchange liquidity in the Americas
The study discusses FX liquidity metrics and its drivers, reaching four conclusions. First, changes in FX markets have reduced the usefulness of some conventional FX liquidity metrics; several metrics...
View ArticleTehran Stock Exchange Iranian New Year (Nowruz) Holidays
Tehran Stock Exchange will be closed from Sunday 19 March 2017 due to Iranian New Year (Nowruz) holidays.read more...
View ArticleWeekly Top 5 Papers â March 13th 2017
1. Taking Stock: Estimating Vulnerability Rediscovery by Trey Herr (Harvard Kennedy School) and Bruce Schneier (Harvard University – Berkman Klein Center for Internet & Society)read more...
View ArticleFirst Green Bond Lists On Borsa Italiana
Borsa Italiana launches a new segment on ExtraMOT PRO dedicated to the issuance of green and social bonds. The new segment provides issuers with a full suite of solutions to support green and social...
View ArticleLCG To Launch New TV Ad Featuring World No.3 Stan Wawrinka
London Capital Group (LCG), a leading online brokerage firm, is set to unveil its new TV advertising campaign featuring Swiss tennis champion, Stan Wawrinka. read more...
View ArticleSIX Securities Services Receives Approval To Launch Its Trade Repository For...
Having received approval from FINMA as an official Swiss derivative trade repository, SIX Securities Services is set to launch its central trade repository in Switzerland – the SIX Trade...
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