Optimal Automatic Stabilizers -- by Alisdair McKay, Ricardo Reis
Should the generosity of unemployment benefits and the progressivity of income taxes depend on the presence of business cycles? This paper proposes a tractable model where there is a role for social...
View ArticleNew Innovations in Payments -- by Marc Rysman, Scott Schuh
We discuss prospects for innovation in consumer payment instruments. We discuss recent research into consumer payments and what can be learned about consumer behavior towards new payment options. We...
View ArticleConsumption Network Effects -- by Giacomo De Giorgi, Anders Frederiksen,...
In this paper we study consumption network effects. Does the consumption of our peers affect our own consumption? How large is such effect? What are the economic mechanisms behind it? We use long panel...
View ArticleThe Staying Power of Staggered Wage and Price Setting Models in...
After many years, many critiques, and many variations, the staggered wage and price setting model is still the most common method of incorporating nominal rigidities into empirical macroeconomic models...
View ArticleEquity is Cheap for Large Financial Institutions: The International Evidence...
Equity is a cheap source of funding for a country's largest financial institutions. In a large panel of 31 countries, we find that the stocks of a country's largest financial companies earn returns...
View ArticleHousing and Macroeconomics -- by Monika Piazzesi, Martin Schneider
This paper surveys the literature on housing in macroeconomics. We first collect facts on house prices and quantities in both the time series and the cross section of households and housing markets. We...
View ArticleInsurance and the High Prices of Pharmaceuticals -- by David Besanko, David...
We present a model in which prospective patients are liquidity constrained, and thus health insurance allows patients access to treatments and services that they otherwise would have been unable to...
View ArticleThe Over Time Impacts Of Smoke Free Air Ordinances In Texas -- by Silda...
We examine an untested hypothesis that posits that null results in early studies examining the economic impacts of smoking bans were driven by sample selection. Early adopters could better absorb the...
View ArticleThe Unintended Consequences of the Zero Lower Bound Policy -- by Marco Di...
We study the impact of the zero lower bound interest rate policy on the industrial organization of the U.S. money fund industry. We find that in response to policies that maintain low interest rates,...
View ArticleDoes Emigration Delay Political Change? Evidence from Italy during the Great...
Mobility within the European Union (EU) brings great opportunities and large overall benefits. Economically stagnant areas, however, may be deprived of talent through emigration, which may harm...
View ArticleBias in Official Fiscal Forecasts: Can Private Forecasts Help? -- by Jeffrey...
Government forecasts of GDP growth and budget balances are generally more over-optimistic than private sector forecasts. When official forecasts are especially optimistic relative to private forecasts...
View ArticleThe Impact of Late-Career Job Loss and Genotype on Body Mass Index -- by...
This study examines whether the effect of job loss on body mass index (BMI) at older ages is moderated by genotype using twenty years of socio-demographic and genome-wide data from the Health and...
View ArticleThe Long Run Impacts of Merit Aid: Evidence from California's Cal Grant -- by...
We examine the impacts of being awarded a Cal Grant, among the most generous state merit aid programs. We exploit variation in eligibility rules using GPA and family income cutoffs that are ex ante...
View ArticleAdoption of New Information and Communications Technologies in the Workplace...
The invention of new applications based on information and communications technologies (ICTs) has had two economic effects up to now. These applications have transformed production, creating value for...
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Wiley Announces Managing for Happiness: Games, Tools, and Practices to...
A practical handbook for making management great again Read More...
View ArticleToronto Stock Exchange Launches TSX NAVex - TSX's New Mutual Fund Platform To...
Toronto Stock Exchange (TSX) today announced the launch of its new centralized mutual fund solution, TSX NAVex, designed to introduce operational and cost efficiencies in the processing of mutual fund...
View ArticleMoscow Exchange Pays Out Dividend To All Shareholders
Moscow Exchange announces it has completed dividend payments for 2015. The total sum paid was RUB 16.2 billion, representing 58.2% of 2015 consolidated net profit under International Financial...
View ArticleNetwork Service Interruption At SIX
Since this morning, SIX has identified an increasing level of occasional network service interruption. Several SIX services and divisions are potentially affected. SIX is deploying all possible...
View ArticleSaudi Arabia's Capital Market Authority: Announcement Regarding The Public...
As part of the Capital Market Authority's ("CMA") continuous efforts to develop the capital market and protect investors, and based on the Capital Market Law ("CML") issued by the Royal Decree Number...
View ArticleEEX New Participant: GREEN TRADE S.R.L.
GREEN TRADE S.R.L. has been admitted to exchange trading for Phelix Futures/Options, French Financial Power Futures/Options, Italian Financial Power Futures/Options and Swiss Financial Power Futures.
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