Durable Coalitions and Communication: Public versus Private Negotiations --...
We present a laboratory experiment to study the effect of communication on durable coalitions - coalitions that support the same allocation from one period to the next. We study a bargaining setting...
View ArticlePuzzles in the Forex Tokyo "Fixing": Order Imbalances and Biased...
"Fixing" in the foreign exchange market is a market practice that determines the bid-ask-mid-point exchange rate at a scheduled time, 10am in Tokyo and 4pm in London. The fixing exchange rate is then...
View ArticleInternational Borrowing Cycles: A New Historical Database -- by Graciela L....
The ongoing slowdown in international capital flows has brought again to the attention the booms and bust cycles in international borrowing. Many suggest that capital flow bonanzas are excessive,...
View ArticleTechnical Aspects of Correspondence Studies -- by Joanna Lahey, Ryan Beasley
This paper discusses technical concerns and choices that arise when crafting a correspondence or audit study using external validity as a motivating framework. We will discuss resume creation,...
View ArticleGender, Marriage, and Life Expectancy -- by Margherita Borella, Mariacristina...
Wages and life expectancy, as well as labor market outcomes, savings, and consumption, differ by gender and marital status. In this paper we compare the aggregate implications of two dynamic structural...
View ArticleHousing Demand, Cost-of-Living Inequality, and the Affordability Crisis -- by...
Since 1970, housing's relative price, share of expenditure, and ``unaffordability'' have all grown. We estimate housing demand using a novel compensated framework over space and an uncompensated...
View ArticleThe Affordable Care Act as Retiree Health Insurance: Implications for...
Using data from the Health and Retirement Study, we examine the effects of the Affordable Care Act (ACA) on retirement. We first calculate retirements (and in related analyses changes in expected ages...
View ArticlePast Performance and Procurement Outcomes -- by Francesco Decarolis,...
Reputational incentives may be a powerful mechanism for improving supplier performance. We analyze their role in contract awarding, exploiting an experiment run by a firm which introduced a new vendor...
View ArticleOn a World Climate Assembly and the Social Cost of Carbon -- by Martin Weitzman
This paper postulates the conceptually useful allegory of a futuristic "World Climate Assembly" (WCA) that votes for a single worldwide price on carbon emissions via the basic democratic principle of...
View ArticleInternational Transmissions of Monetary Shocks: Between a Trilemma and a...
This paper re-examines international transmissions of monetary policy shocks from advanced economies to emerging market economies. In terms of methodologies, it combines three novel features. First, it...
View ArticleComplementarity without Superadditivity -- by Steven Berry, Philip Haile,...
The distinction between complements, substitutes, and independent goods is important in many contexts. It is well known that when consumers' conditional indirect utilities for two goods are...
View ArticlePolitical Borders and Bank Lending in Post-Crisis America -- by Matthieu...
We use spatial discontinuities associated with congressional district borders to identify the effect of political influences on American banks' lending. We show that recipients of the 2008 public...
View ArticleLeverage Dynamics without Commitment -- by Peter DeMarzo, Zhiguo He
We analyze equilibrium leverage dynamics in a dynamic tradeoff model when the firm is unable to commit to a leverage policy ex ante. We develop a methodology to characterize equilibrium equity and debt...
View ArticleDivergent Paths: Structural Change, Economic Rank, and the Evolution of...
Studying working and non-working men, we find that, after closing substantially from 1940 to the mid-1970s, the median black-white earnings gap has since returned to its 1950 level, while the...
View ArticleMoscow Exchange: Final Settlement Of Brent Derivatives In December 2016,...
Due to public holidays in Russia, the final settlement date of the January Brent oil futures contracts (BR-1.17) will be changed to 30 December 2016, instead of 2 January 2017. The date will be changed...
View ArticleIbdar Launches Parallel Shari’ah Trade Finance Fund
Bahrain-based wholesale Islamic Investment bank, Ibdar Bank, has announced the launch of the Barak Ibdar Shari’ah Trade Finance Fund, a parallel fund of the highly successful Barak Trade Finance...
View ArticlePwC Launches New Fintech Capability Called ‘Vulcan Digital Asset...
PwC has today launched a new fintech capability called Vulcan Digital Asset Services to enable digital assets to be used for everyday banking, commerce and other personal currency and asset related...
View ArticleEffectiveness And Proportionality: Our Financial Crime Priorities - Speech By...
Speaker: Rob Gruppetta, Head of the Financial Crime DepartmentEvent: FCA Financial Crime Conference, LondonDelivered: 10 November 2016Note: this is the speech as drafted and may differ from delivered...
View ArticleSecurities And Exchange Board Of India Visit To Tehran Stock Exchange
On Monday 14 November 2016, the Chairman of the Securities and Exchange Board of India paid a visit to the Tehran Stock Exchange.read more...
View ArticleSmart Contracts Pioneer Symbiont Fortifies Board Of Directors - Appoints...
Symbiont has appointed former SEC Commissioner Daniel Gallagher and Todd Ruppert, former CEO and President of T.Rowe Price Global Investment Services, to its Board of Directors. These appointments...
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