CFTC’s Division of Swap Dealer and Intermediary Oversight Issues...
The U.S. Commodity Futures Trading Commissionâs (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a time-limited no-action letter stating that, from February 4, 2017 to...
View ArticleCFTC’s Division of Market Oversight Provides Time-Limited No-Action...
The U.S. Commodity Futures Trading Commissionâs (CFTC) Division of Market Oversight (DMO) today issued a time-limited no-action letter stating that, from February 14, 2017 to August 14, 2017, it will...
View ArticleCFTC’s Division of Swap Dealer and Intermediary Oversight Issues...
The U.S. Commodity Futures Trading Commissionâs (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a time-limited no-action letter stating that, from March 1, 2017 to...
View ArticleGender: An Historical Perspective -- by Paola Giuliano
Social attitudes toward women vary significantly across societies. This chapter reviews recent empirical research on various historical determinants of contemporary differences in gender roles and...
View ArticleThe Impacts of Reduced Access to Abortion and Family Planning Services:...
Between 2011 and 2014, Texas enacted three pieces of legislation that significantly reduced funding for family planning services and increased restrictions on abortion clinic operations. Together this...
View ArticleIt's a Cruel Summer: Household Responses to Reductions in Government...
The appropriate size and scope of government nutrition assistance programs is a regular source of debate among policy-makers, and with calls to reduce government benefits, a clear understanding of...
View ArticleThe Taxation of Recreational Marijuana: Evidence from Washington State -- by...
The median United States voter supports the legalization of marijuana, at least in part due to a desire to increase state tax revenues. However, states with legal markets have implemented wildly...
View ArticleTax Audits as Scarecrows: Evidence from a Large-Scale Field Experiment -- by...
According to the canonical model of Allingham and Sandmo (1972), firms evade taxes by making a trade-off between a lower tax burden and higher expected penalties. However, there is still no consensus...
View ArticleExporting and Organizational Change -- by Lorenzo Caliendo, Ferdinando Monte,...
We study the effect of exporting on the organization of production within firms. Using French employer-employee matched data together with data on a firm's exporting activity, we find that firms that...
View ArticleContagion During the Initial Banking Panic of the Great Depression -- by Erik...
The initial banking crisis of the Great Depression has been the subject of debate. Some scholars believe a contagious panic spread among financial institutions. Others argue that suspensions surged...
View ArticleThe Effects of U.S. Monetary Policy on Emerging Market Economies' Sovereign...
We analyze the effect of the US Federal Reserve's monetary policy on EME sovereign and corporate bond markets by focusing on two dimensions: the evolution of the structure (size and currency...
View ArticleDisclosure Rules and Declared Essential Patents -- by Rudi Bekkers, Christian...
Many standard setting organizations (SSOs) require participants to disclose patents that might be infringed by implementing a proposed standard, and commit to license their "essential" patents on terms...
View ArticlePrivate Equity and Financial Fragility during the Crisis -- by Shai...
Do private equity firms contribute to financial fragility during economic crises? We find that during the 2008 financial crisis, PE-backed companies increased investments relative to their peers, while...
View ArticleQuicksand or Bedrock for Behavioral Economics? Assessing Foundational...
Behavioral economics lacks empirical evidence on some foundational empirical questions. We adapt standard elicitation methods to measure multiple behavioral factors per person in a representative U.S....
View ArticleThe Welfare Effects of Long-Term Health Insurance Contracts -- by Benjamin R....
Reclassification risk is a major concern in health insurance. We use a rich dataset with individual-level information on health risk to empirically study one possible solution: dynamic contracts....
View ArticleCFTC Releases Rule Enforcement Review of the North American Derivatives Exchange
The U.S. Commodity Futures Trading Commissionâs (CFTC) Division of Market Oversight (DMO) announced today that it has issued the results of a rule enforcement review of the North American Derivatives...
View ArticleA risk measure that optimally balances capital determination errors....
In this paper, we propose a risk measurement approach that minimizes the expectation of sum between costs from capital determination overestimation and underestimation. We develop results that...
View ArticleSpurious memory in non-equilibrium stochastic models of imitative behavior....
The origin of the long-range memory in the non-equilibrium systems is still an open problem as the phenomenon can be reproduced using models based on Markov processes. In these cases a notion of...
View ArticleExplicit expressions for European option pricing under a generalized skew...
Under a generalized skew normal distribution we consider the problem of European option pricing. Existence of the martingale measure is proved. An explicit expression for a given European option price...
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