Can the Euro be Saved?
The economies of the eurozone countries are plagued by multiple crises, which cast major doubts over the future of the euro. In this engaging new book, leading economist Malcolm Sawyer argues that the...
View ArticleCan the Euro be Saved?
The economies of the eurozone countries are plagued by multiple crises, which cast major doubts over the future of the euro. In this engaging new book, leading economist Malcolm Sawyer argues that the...
View ArticleLedgerX Trades $1 Million in Bitcoin Derivatives in First Week - CoinDesk
The first regulated cryptocurrency derivative trades have taken place on a U.S. exchange. https://t.co/JutP9dfuI4 — moneyscience (@moneyscience) October 23,…
View ArticleSocial Capital and Labor Market Networks -- by Brian J. Asquith, Judith K....
We explore the links between social capital and labor market networks at the neighborhood level. We harness rich data taken from multiple sources, including matched employer-employee data with which we...
View ArticleInformation Aversion -- by Marianne Andries, Valentin Haddad
The main features of households' attention to savings are rationalized by a model of information aversion, a preference-based fear of receiving flows of news. In line with the empirical evidence,...
View ArticleInforming SPR Policy Through Oil Futures and Inventory Dynamics -- by Richard...
This paper examines how information on the time pattern of expected future prices for crude oil, based on the term structure of futures contracts, can be used in informing whether to draw down, or...
View ArticleThe Unconventional Oil Supply Boom: Aggregate Price Response from Microdata...
We analyze the price responsiveness of onshore oil supply from conventional versus new unconventional "tight" formations in the United States. We separately analyze three key stages of oil production:...
View ArticleMarriage-Related Policies in an Estimated Life-Cycle Model of Households'...
In the U.S., both taxes and old age Social Security benefits explicitly depend on one's marital status. We study the effects of eliminating these marriage-related provisions on the labor supply and...
View ArticleDoes Parents' Access to Family Planning Increase Children's Opportunities?...
This paper examines the relationship between parents' access to family planning and the economic resources of their children. Using the county-level introduction of U.S. family planning programs...
View ArticleProduction Flexibility, Misallocation and Total Factor Productivity -- by...
Economy-wide institutional deficiencies causing factor misallocation have been emphasized as essential determinants of aggregate TFP differences. This paper argues that production flexibility at the...
View ArticleA Tale of Two Cities: Cross-Border Casino Competition Between Detroit and...
We develop a framework to study analytically and quantitatively relentless cross-border casino competition with social-disorder and income-creation externalities. Two bordering casinos compete with...
View ArticleIdentification in Macroeconomics -- by Emi Nakamura, Jon Steinsson
This paper discusses empirical approaches macroeconomists use to answer questions like: What does monetary policy do? How large are the effects of fiscal stimulus? What caused the Great Recession? Why...
View ArticleThe Economics of PIPEs -- by Jongha Lim, Michael W. Schwert, Michael S. Weisbach
This paper considers a sample of 3,001 private investments in public equities (PIPEs). Issuing firms tend to be small and poorly performing, so have limited access to traditional sources of finance. To...
View ArticleTechnology and the Effectiveness of Regulatory Programs Over Time: Vehicle...
Personal automobile emissions are a major source of urban air pollution. Many U.S. states control emissions through mandated vehicle inspections and repairs. But there is little empirical evidence...
View ArticleImplications of Medicaid Financing Reform for State Government Budgets -- by...
We analyze potential reforms to Medicaid financing through the lens of fiscal federalism. Because substantial dollars are at stake, both the economic and political sides of intergovernmental transfers...
View ArticleDiagnosing the Italian Disease -- by Bruno Pellegrino, Luigi Zingales
We try to explain why Italy's labor productivity stopped growing in the mid-1990s. We find no evidence that this slowdown is due to trade dynamics, Italy's inefficient governmental apparatus, or...
View ArticleThe Lifetime Costs of Bad Health -- by Mariacristina De Nardi, Svetlana...
Health shocks are an important source of risk. People in bad health work less, earn less, face higher medical expenses, die earlier, and accumulate much less wealth compared to those in good health....
View ArticleMarketing Agencies and Collusive Bidding in Online Ad Auctions -- by...
The transition of the advertising market from traditional media to the internet has induced a proliferation of marketing agencies specialized in bidding in the auctions that are used to sell ad space...
View ArticleSticky Prices Versus Sticky Information: Does it Matter for Policy Paradoxes?...
This paper shows that government spending multiplier at the zero lower bound (ZLB) is larger under sticky information than under sticky prices. Similarly, well known paradoxes, e.g., the paradox of...
View ArticleMarket Reforms at the Zero Lower Bound -- by Matteo Cacciatore, Romain Duval,...
This paper studies the impact of product and labor market reforms when the economy faces major slack and a binding constraint on monetary policy easing---such as the zero lower bound. To this end, we...
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