Monetary Policy and the Stock Market: Time-Series Evidence -- by Andreas...
We construct a slope factor from changes in federal funds futures of different horizons. Slope predicts stock returns at the weekly frequency: faster monetary policy easing positively predicts excess...
View ArticleAn Economic Analysis of U.S Airline Fuel Economy Dynamics from 1991 to 2015...
Airline transport generates a growing share of global greenhouse gas emissions but as of late 2016, this sector has not faced U.S. fuel economy or emissions regulation. At any point in time, airlines...
View ArticleExchange Traded Funds (ETFs) -- by Itzhak Ben-David, Francesco Franzoni,...
Over two decades, ETFs have become one of the most popular investment vehicle among retail and professional investors due to their low transaction costs and high liquidity, taking market share from...
View ArticleCorporate Deleveraging -- by Harry DeAngelo, Andrei S. Goncalves, Rene M. Stulz
Proactive deleveraging from all-time peak market leverage (ML) to near-zero ML and negative net debt is the norm among 4,476 nonfinancial firms with five or more years of post-peak data. ML is 0.543 at...
View ArticleInflation Dynamics During the Financial Crisis -- by Simon Gilchrist, Raphael...
Using a novel dataset, which merges good-level prices underlying the PPI with the respondents' balance sheets, we show that liquidity constrained firms increased prices in 2008, while their...
View ArticleHospital Competition, Quality, and Expenditures in the U.S. Medicare...
Theoretical models of competition with fixed prices suggest that hospitals should compete by increasing quality of care for diseases with the greatest profitability and demand elasticity. Most...
View ArticlePutting the Cycle Back into Business Cycle Analysis -- by Paul Beaudry, Dana...
This paper begins by re-examining the spectral properties of several cyclically sensitive variables such as hours worked, unemployment and capacity utilization. For each of these series, we document...
View ArticleTime-Inconsistent Charitable Giving -- by James Andreoni, Marta Serra-Garcia
This paper examines the interaction between moral contradictions and time in charitable giving. Applying a simple theoretical framework to two longitudinal experiments with actual charitable donations,...
View ArticleThe Optimal Distribution of Population across Cities -- by David Albouy,...
The received economic wisdom is that cities are too big and that public policy should limit their sizes. This wisdom assumes, unrealistically, that city sites are homogeneous, migration is unfettered,...
View ArticleHKEX: Updated Arrangements For Adjustment Of SMIC Futures
Hong Kong Exchanges and Clearing Limited (HKEX) has announced updated arrangements for the capital adjustment of Semiconductor Manufacturing International Corporation (SMIC) stock futures contracts....
View ArticlePacked Week Of Activities In Cooperation With Leading Institutions And...
Dubai Financial Market (DFM) today announced that it will actively participate in the “UAE Innovation Week 2016”, the nationwide initiative that aims to reflect the country’s impressive achievements...
View ArticleInflation mechanisms, expectations and monetary policy
Inflation has been off-target for some time in many economies, both advanced and emerging. Whereas advanced economies have mostly been experiencing inflation below target, the experience among emerging...
View ArticleWe Succeeded In Making 2016 A Year Of Digital Transformation For ADX –...
Abu Dhabi Securities Exchange (ADX) Chief Executive, Rashed Al Blooshi said that the continuous growth in ADX performance during the past 16 years is closely aligned with the vision and aspirations of...
View ArticleICAP Appoints Guy Rowcliffe Head Of Asia Pacific, Post Trade Risk And...
ICAP, a leading markets operator and provider of post trade risk mitigation and information services, announces today that Guy Rowcliffe, CEO of RESET, has been appointed Head of Asia Pacific, ICAP...
View ArticleMark Fawcett Appointed New Chairman Of EDHEC-Risk Institute’s...
EDHEC-Risk Institute is pleased to announce the appointment of Mark Fawcett as chairman of its international advisory board. He is Chief Investment Officer of NEST Corporation, the trustee body...
View ArticleUBS Teams Up With Clearstream And Citi For Innovative T2S Strategic Solution
In collaboration with UBS, Clearstream and Citi have designed an innovative market-side network model that enables banks and broker-dealers to optimise their operating models and reap the maximum...
View ArticleThinkMarkets partners With LSESU Trading Society To Offer FX Trading Support...
ThinkMarkets, the global multi asset brokerage, has today announced its first educational partnership with one of the most historic and established educational institutions in the world, the London...
View ArticleAnother UK Broker Moves Back-Office System To Torstone’s Inferno
Liberum, a leading pan European investment bank signed a multi-year deal with Torstone Technology to use Inferno in July and went live last week, implementing a complete back office system within 4...
View ArticleSIX Is New Partner Of ETH ZISC
Data protection and security are of utmost importance to SIX as the main infrastructure provider for the Swiss financial center. In the constantly and rapidly changing world of IT, security...
View ArticleSWIFT Goes Live With New eLearning Platform - SWIFTSmart Revolutionises...
SWIFT announces that its new eLearning platform, SWIFTSmart, is now live with more than 200 individual courses and videos, including customised training programmes for cyber security and financial...
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