Safe Asset Scarcity and Aggregate Demand -- by Ricardo J. Caballero, Emmanuel...
We explore the consequences of safe asset scarcity on aggregate demand in a stylized IS-LM/Mundell Fleming environment. Acute safe asset scarcity forces the economy into a "safety trap" recession. In...
View ArticleEstimating Social Preferences and Gift Exchange at Work -- by Stefano...
We design a model-based field experiment to estimate the nature and magnitude of workers' social preferences towards their employers. We hire 446 workers for a one-time task. Within worker, we vary (i)...
View ArticleThe Long-Run Effects of Disruptive Peers -- by Scott E. Carrell, Mark...
A large and growing literature has documented the importance of peer effects in education. However, there is relatively little evidence on the long-run educational and labor market consequences of...
View ArticleOffshoring and Labor Markets -- by David Hummels, Jakob R. Munch, Chong Xiang
We survey the recent empirical literature on the effects of offshoring on wages, employment and displacement. We start with the measurement of offshoring, focusing on the use of imported inputs that...
View ArticleNet Neutrality, Pricing Instruments and Incentives -- by Joshua S. Gans,...
We correct and extend the results of Gans (2015) regarding the effects of net neutrality regulation on equilibrium outcomes in settings where a content provider sells its services to consumers for a...
View ArticleTransparency and Negotiated Prices: The Value of Information in...
We empirically examine the role of information in business-to-business bargaining between hospitals and suppliers of medical technologies. Using a new data set including all purchase orders issued by...
View ArticleA Theory of Bidding Dynamics and Deadlines in Online Retail -- by Dominic...
We present an equilibrium search model that parsimoniously rationalizes the use of auctions as a sales mechanism for new-in-box goods--a frequent occurrence in online retail markets--and analyze...
View ArticleSubsidies and Structure: The Lasting Impact of the Hill-Burton Program on the...
The hospital industry is one of the most important industries in the U.S., and industry structure can have profound effects on the functioning of markets. Using county-level panel data, we study the...
View ArticleHow Did Pre-Fed Banking Panics End? -- by Gary Gorton, Ellis W. Tallman
How did pre-Fed banking crises end? How did depositors' beliefs change? During the National Banking Era, 1863-1914, banks responded to the severe panics by suspending convertibility, that is, they...
View ArticleDynamic R&D Choice and the Impact of the Firm's Financial Strength -- by...
This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech...
View ArticleBank Quality, Judicial Efficiency and Borrower Runs: Loan Repayment Delays in...
Exposure to liquidity risk makes banks vulnerable to runs from both depositors and from wholesale, short-term investors. This paper shows empirically that banks are also vulnerable to run-like behavior...
View ArticleDoes Fundraising Create New Giving? -- by Jonathan Meer
Despite an extensive literature on the impacts of a variety of charitable fundraising techniques, little is known about whether these activities increase overall giving or merely cause donors to...
View ArticleChicago Business Barometer Down 8.0 Points To 47.6 In February
The Chicago Business Barometer recoiled 8.0 points to 47.6 in February following a sharp increase to 55.6 in the previous month, led by significant declines in Production and New Orders. read more...
View ArticleExegy Extends Reach Of Enterprise And Data Tone Services
Exegy Inc., a leading provider of managed services and low-latency technology for market data normalization and distribution, has announced today the availability of Edge Cache distribution appliances...
View ArticleNew OCC White Paper On Box Spreads: Exchange-Listed Options Strategies For...
A new white paper from OCC on Box Spreads is out.read more...
View ArticleStatement Of FTC Chairwoman Edith Ramirez On EU-U.S. Privacy Shield Framework
Federal Trade Commission Chairwoman Edith Ramirez has issued the following statement regarding today’s release of the EU-U.S. Privacy Shield Framework in Brussels, Belgium. read more...
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White Paper Supports Utility Of CBOE Eurekahedge Benchmarks For Volatility...
Chicago Board Options Exchange® (CBOE®) today announced the release of a white paper that analyzes the use of benchmarks, such as those utilized by the CBOE Eurekahedge Volatility Indexes, to measure...
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Upcoming book by Sarah Newcomb: LOADED: Money, Psychology, and How to Get...
This book is divided into two major sections. The first section gives a broad overview of money and its place in our lives as a cultural and social phenomenon. The second section offers a new...
View ArticleThe Benefits Of Exchange-Trading Investment Funds - A Guest Article From...
Sponsored Funds are investment funds that are traded like ETFs or Structured Products in a market making segment. In a guest contribution[PDF], the authors Beat Auerbach, Oliver Heusser, Thomas Kägi...
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