The Bounty Hunter of Wall Street
Andrew Left, The Bounty Hunter of Wall Street https://t.co/XJ1EAnReFn â moneyscience (@moneyscience) June 12, 2017
View ArticleGeneralized Compensation Principle -- by Aleh Tsyvinski, Nicolas Werquin
We generalize the classic concept of compensating variation and the welfare compensation principle to a general equilibrium environment with distortionary taxes. We show that the problem of designing a...
View ArticleMoney and Politics: The Effects of Campaign Spending Limits on Political...
This paper examines the effects of campaign spending limits on political competition and incumbency advantage. We study a reform in Brazil that imposed limits on campaign spending for mayoral...
View ArticleEstimating the Recession-Mortality Relationship when Migration Matters -- by...
A large literature following Ruhm (2000) suggests that mortality falls during recessions and rises during booms. The panel-data approach used to generate these results assumes that either there is no...
View ArticleSocial Security and Saving: An Update -- by Sita Slavov, Devon Gorry, Aspen...
Typical neoclassical life-cycle models predict that Social Security has a large and negative effect on private savings. We review this theoretical literature by constructing a model where individuals...
View ArticleWhat is the Business of Business? -- by Andreas Nilsson, David T. Robinson
This paper develops a simple framework for understanding the emergence of new organizational forms, such as socially responsible firms and social entrepreneurs, that embody the private sector's efforts...
View ArticleStill More On Mariel: The Role of Race -- by George J. Borjas
Card's (1990) study of the Mariel supply shock remains an important cornerstone of both the literature that measures the labor market impact of immigration, and of the "stylized fact" that immigration...
View ArticleTrade Induced Structural Change and the Skill Premium -- by Javier Cravino,...
We study how international trade affects manufacturing employment and the relative wage of unskilled workers when goods and services are traded with different intensities. Manufacturing trade reduces...
View ArticleDynamics of Housing Debt in the Recent Boom and Great Recession -- by Manuel...
This paper documents a number of key facts about the evolution of mortgage debt, homeownership, debt burden and subsequent delinquency during the recent housing boom and Great Recession. We show that...
View ArticlePlanning for Retirement? The Importance of Time Preferences -- by Robert L....
Ensuring retirement income security is a priority for individuals, employers, and policymakers. Using merged administrative and survey data for public sector workers in North Carolina, we explore how...
View ArticleGeneral Equilibrium Trade Modelling with Canada-US Transportation Costs -- by...
Transportation costs are an important topic in international trade, but seldom have researches paid attention to general equilibrium trade modelling with transportation costs and explored their...
View ArticleKinship Systems, Cooperation and the Evolution of Culture -- by Benjamin Enke
Cultural psychologists and anthropologists argue that societies have developed heterogeneous systems of social organization to cope with social dilemmas, and that an entire bundle of cultural...
View ArticleThe Economic and Social Outcomes of Refugees in the United States: Evidence...
Using data from the 2010-2014 American Community Survey, we use a procedure suggested by Capps et al. (2015) to identify refugees from the larger group of immigrants to examine the outcomes of refugees...
View ArticleEstimating the Impact of Crop Diversity on Agricultural Productivity in South...
Crop biodiversity has the potential to enhance resistance to strains due to biotic and abiotic factors and to improve crop production and farm revenues. To investigate the effect of crop biodiversity...
View ArticleWill Immelt's Retirement Lead to the Break-up of GE?
Stunning news from General Electric headquarters this morning; Jeffrey Immelt will step down as CEO, and John Flannery will succeed him. Many people wonder what's next for GE given the leadership...
View ArticleBeating the Omega Clock: An Optimal Stopping Problem with Random Time-horizon...
We study the optimal stopping of an American call option in a random time-horizon under exponential spectrally negative L\'evy models. The random time-horizon is modeled as the so-called Omega default...
View ArticlePortfolio optimization for a large investor controlling market sentiment...
We consider an investor faced with the utility maximization problem in which the risky asset price process has pure-jump dynamics affected by an unobservable continuous-time finite-state Markov chain,...
View ArticleEconomics of limiting cumulative CO2 emissions. (arXiv:1706.03502v1 [q-fin.EC])
Global warming from carbon dioxide (CO2) is known to depend on cumulative CO2 emissions. We introduce a model of global expenditures on limiting cumulative CO2 emissions, taking into account effects of...
View ArticleAnalysis of order book flows using a nonparametric estimation of the...
We introduce a new non parametric method that allows for a direct, fast and efficient estimation of the matrix of kernel norms of a multivariate Hawkes process, also called branching ratio matrix. We...
View ArticleAftershocks in a complex system with catastrophes: Crash of currency exchange...
The dynamical behavior of the currency exchange rate after its large-scale crash is studied. It is shown that, similarly to the case of the stock market crash investigated by Lillo and Mantegna [Phys....
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