UBS MTF Market Notice: Change Of Registered Address
This market notice is to inform you of the new UBS Limited company address.read more...
View ArticleSIX Swiss Exchange - Sponsored Foreign Shares: Additional Trading Currency
In the SFS segment of SIX Swiss Exchange investors can now trade 70 stocks also in US Dollar. Renell Wertpapierhandelsbank AG acts as Market Maker.read more...
View ArticleAnalyzing the Impact of the World's Largest Public Works Project on Crime --...
India started the implementation of a rural public works program in 2006, covering all districts of the country within three years. The program quarantees 100 days of employment per year at minimum...
View ArticleUnion Army Veterans, All Grown Up -- by Dora L. Costa, Heather DeSomer, Eric...
This paper overviews the research opportunities made possible by a NIA-funded program project, Early Indicators, Intergenerational Processes, and Aging. Data collection began almost three decades ago...
View ArticleWage Flexibility and Employment Fluctuations: Evidence from the Housing...
Many economists suspect that downward nominal wage rigidities in ongoing labor contracts are an important source of employment fluctuations over the business cycle but there is little direct empirical...
View ArticleDoes Rosie Like Riveting? Male and Female Occupational Choices -- by Grace...
Occupational segregation and pay gaps by gender remain large while many of the constraints traditionally believed to be responsible for these gaps have weakened over time. Here, we explore the...
View ArticleLevel versus Variability Trade-offs in Wind and Solar Generation Investments:...
Hourly plant-level wind and solar generation output and real-time price data for one year from the California ISO control area is used to estimate the vector of means and the contemporaneous covariance...
View ArticleDo Private Equity Funds Manipulate Reported Returns? -- by Gregory W. Brown,...
Private equity funds hold assets that are hard to value. Managers may have an incentive to distort reported valuations if these are used by investors to decide on commitments to subsequent funds...
View ArticleWhy Does Idiosyncratic Risk Increase with Market Risk? -- by Soehnke M....
From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive relation between IR and MR is highly stable through time and is robust across exchanges,...
View ArticleThe Morale Effects of Pay Inequality -- by Emily Breza, Supreet Kaur, Yogita...
The idea that worker utility is affected by co-worker wages has potentially broad labor market implications. In a month-long experiment with Indian manufacturing workers, we randomize whether...
View ArticleParalyzed by Fear: Rigid and Discrete Pricing under Demand Uncertainty -- by...
Price rigidity is central to many predictions of modern macroeconomic models, yet, standard models are at odds with certain robust empirical facts from micro price datasets. We propose a new,...
View ArticleUnderstanding the Gains from Wage Flexibility: The Exchange Rate Connection...
We study the gains from increased wage flexibility using a small open economy model with staggered price and wage setting. Two results stand out: (i) the effectiveness of labor cost reductions as a...
View ArticleGender Differences in Cooperative Environments? Evidence from the U.S....
This paper uses data on bill sponsorship and cosponsorship in the U.S. House of Representatives to estimate gender differences in cooperative behavior. We employ a number of econometric methodologies...
View ArticleHeads or Tails: The Impact of a Coin Toss on Major Life Decisions and...
Little is known about whether people make good choices when facing important decisions. This paper reports on a large-scale randomized field experiment in which research subjects having difficulty...
View ArticlePeer Information and Risk-taking under Competitive and Non-competitive Pay...
Incentive schemes that reward participants based on their relative performance are often thought to be particularly risk-inducing. Using a novel, real-effort task experiment in the laboratory, we find...
View ArticleMacro-Finance -- by John H. Cochrane
Macro-finance addresses the link between asset prices and economic fluctuations. Many models reflect the same rough idea: the market's ability to bear risk varies over time, larger in good times, and...
View ArticleGrounded by Gravity: A Well-Behaved Trade Model with Industry-Level Economies...
Although economists have long been interested in the implications of Marshallian externalities (i.e., industry-level external economies of scale) for trading economies, the large number of equilibria...
View ArticleStart-up Nation? Slave Wealth and Entrepreneurship in Civil War Maryland --...
Slave property rights yielded a source of collateral as well as a coerced labor force. Using data from Dun and Bradstreet linked to the 1860 census and slave schedules in Maryland, we find that...
View ArticleThe Deregularization of Land Titles -- by Sebastian Galiani, Ernesto...
In the last years, several countries implemented policy interventions to entitle urban squatters, encouraged by the results of studies showing large welfare gains from entitlement. We study a natural...
View ArticleIs Optimal Capital-Control Policy Countercyclical In Open-Economy Models With...
This paper contributes to a literature that studies optimal capital control policy in open economy models with pecuniary externalities due to flow collateral constraints. It shows that the optimal...
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