Healthy Business? Managerial Education and Management in Healthcare -- by...
We investigate the link between hospital performance and managerial education by collecting a large database of management practices and skills in hospitals across nine countries. We find that...
View ArticleThe Loan Covenant Channel: How Bank Health Transmits to the Real Economy --...
We document the importance of covenant violations in transmitting bank health to nonfinancial firms using a new supervisory data set of bank loans. More than one-third of loans in our data breach a...
View ArticleThe Impact of Trade on Inequality in Developing Countries -- by Nina Pavcnik
This paper assesses the current state of evidence on how international trade shapes inequality and poverty through its influence on earnings and employment opportunities. While the focus is mainly on...
View ArticleThe Effects of Cognitive and Noncognitive Skills on Migration Decisions -- by...
There is growing evidence that cognitive and noncognitive skills affect the economic and social outcomes of individuals. In this paper, we analyze how they affect the migration decisions of individuals...
View ArticleSelection in Health Insurance Markets and Its Policy Remedies -- by Michael...
In this essay, we review the theory and evidence concerning selection in competitive health insurance markets and discuss the common policy tools used to address the problems it creates. We begin by...
View ArticleIntervention On Default Contagion Under Partial Information....
We model the default contagion process in a large heterogeneous financial network under the interventions of a regulator (a central bank) with only partial information which is a more realistic setting...
View ArticleThe Chebyshev method for the implied volatility. (arXiv:1710.01797v1 [q-fin.CP])
The implied volatility is a crucial element of any financial toolbox, since it is used for quoting and the hedging of options as well as for model calibration. In contrast to the Black-Scholes formula...
View ArticleOn Kelly Betting: Some Limitations. (arXiv:1710.01787v1 [math.OC])
The focal point of this paper is the so-called Kelly Criterion, a prescription for optimal resource allocation among a set of gambles which are repeated over time. The criterion calls for maximization...
View ArticleKelly Betting Can Be Too Conservative. (arXiv:1710.01786v1 [q-fin.PM])
Kelly betting is a prescription for optimal resource allocation among a set of gambles which are typically repeated in an independent and identically distributed manner. In this setting, there is a...
View ArticleExplaining the Mechanism of Growth in the Past Two Million Years Vol. I....
Economic growth and the growth of human population in the past 2,000,000 years are extensively examined. Data are found to be in a clear contradiction of the currently accepted explanations of the...
View ArticleStatistics on payment, clearing and settlement systems in the CPMI countries...
Statistics on payment, clearing and settlement systems in the CPMI countries - Figures for 2016 - preliminary release, published by the Committee on Payments and Market Infrastructures (CPMI), October...
View ArticleImplementation of net stable funding ratio and treatment of derivative...
Implementation of net stable funding ratio and treatment of derivative liabilities, press release by the Basel Committee (6 October 2017)
View ArticleStatement of Chairman Giancarlo on Treasury Report on Capital Markets
Statement of Chairman Giancarlo on Treasury Report on Capital Markets
View ArticleStatement of Commissioner Rostin Behnam on Treasury Report on Capital Markets
Statement of Commissioner Rostin Behnam on Treasury Report on Capital Markets
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Tax Reform, 2017: Promise of Plenty or Poisoned Chalice?
Every decade or two, the political class in the United States wakes up to the reality that the US tax code, as written, is an abomination that encourages and rewards bad behavior, and works on a tax...
View ArticleStatement of Commissioner Quintenz on Treasury Report on Capital Markets
Statement of Commissioner Quintenz on Treasury Report on Capital Markets
View ArticleCFTC Talks Launches Ag Series Featuring Roberts and Conaway
The Commodity Futures Trading Commission (CFTC) announced today the release of a special series of its podcast, CFTC Talks, on agriculture policy, featuring interviews with Senate Agriculture Committee...
View ArticleTechnology and Emergency Management, 2nd Edition
The first book devoted to a critically important aspect of disaster planning, management, and mitigationread more...
View ArticleLabor
Labor is the source of all wealth. Without workers, the world's natural resources cannot be transformed into finished goods and services cannot be delivered. Labor, though, is a uniquely important...
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