Fiscal and Financial Crises -- by Michael D. Bordo, Christopher M. Meissner
Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics towards modern banking crises where financial guarantees...
View ArticleThe Macroeconomic Impact of Financial and Uncertainty Shocks -- by Dario...
The extraordinary events surrounding the Great Recession have cast a considerable doubt on the traditional sources of macroeconomic instability. In their place, economists have singled out financial...
View ArticleUniversity Innovation and the Professor's Privilege -- by Hans K. Hvide,...
National policies take varied approaches to encouraging university-based innovation. This paper studies a natural experiment: the end of the "professor's privilege" in Norway, where university...
View ArticleA Market Based Solution for Fire Sales and Other Pecuniary Externalities --...
We show how bundling, exclusivity and additional markets internalize fire sale and other pecuniary externalities. Ex ante competition can achieve a constrained efficient allocation. The solution can be...
View ArticleThe Limits of Propaganda: Evidence from Chavez's Venezuela -- by Brian...
In this paper, we investigate viewer responses to changes in the ideological content of television programming using variation induced by cadenas, unannounced takeovers of the public television...
View ArticleTeacher Applicant Hiring and Teacher Performance: Evidence from DC Public...
Selecting more effective teachers among job applicants during the hiring process could be a highly cost-effective means of improving educational quality, but there is little research that links...
View ArticleLiquidity Requirements, Liquidity Choice and Financial Stability -- by...
We study a modification of the Diamond and Dybvig (1983) model in which the bank may hold a liquid asset, some depositors see sunspots that could lead them to run, and all depositors have incomplete...
View ArticleEffects of Welfare Reform on Women's Voting Participation -- by Dhaval M....
Voting is an important form of civic participation in democratic societies but a fundamental right that many citizens do not exercise. This study investigates the effects of welfare reform in the U.S....
View ArticleKeynote Remarks of Chairman Timothy Massad before the Institute of...
Keynote Remarks of Chairman Timothy Massad before the Institute of International Bankers Annual Washington Conference
View ArticleSWIFT And The Canadian Payments Association Examine Canadaâs Adoption...
SWIFT and the Canadian Payments Association (CPA) announce the release of a new information paper that outlines the adoption approach for ISO 20022 within the Canadian payments landscape.read more...
View ArticleCourt or Department of Labor Oversight Required for Fair Labor Standards Act...
Laws involving the Fair Labor Standards Act (FLSA) are constantly evolving. It may be difficult for employers to stay abreast of all these changes and ultimately resolve lawsuits that arise.read more...
View ArticleUS T+2 ISC Recommends Move To Shorter Settlement Cycle On September 5, 2017
The U.S. T+2 Industry Steering Committee (T+2 ISC), organized by The Depository Trust & Clearing Corporation (DTCC) and co-chaired by the Securities Industry and Financial Markets Association...
View Article07Mar/Financial intermediation and monetary policy transmission in EMEs: What...
In contrast to the benign neglect of the financial system in traditional monetary models, there has been growing evidence in recent years that the size and the structure of financial intermediation...
View Article07Mar/When pegging ties your hands
Could a less conservative central bank - one that faces a more severe time inconsistency problem - be less likely to succumb to an attack on a currency peg? Traditional currency-crisis models provide a...
View ArticleIntercontinental Exchange, Inc. Rule 2.10 Announcement
The following update has been made to the Rule 2.10 announcement released by Intercontinental Exchange, Inc. at 08:09 on 1 March 2016. The number of shares of common stock in issue, and as a result the...
View ArticleExponentially concave functions and high dimensional stochastic portfolio...
We consider the following problem in stochastic portfolio theory. Are there portfolios that are relative arbitrages with respect to the market portfolio over very short periods of time under realistic...
View ArticleMathematical analysis of the historical income per capita distributions....
Data describing historical growth of income per capita [Gross Domestic Product per capita (GDP/cap)] for the world economic growth and for the growth in Western Europe, Eastern Europe, Asia, former...
View Articlehttps://t.co/VpLyIqSjJh
The bank that fintech built: Number26 and TransferWise team up to re-invent banking https://t.co/VpLyIqSjJh â moneyscience (@moneyscience) March 4, 2016
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