Identifying Ambiguity Shocks in Business Cycle Models Using Survey Data -- by...
We develop a framework to analyze economies with agents facing time-varying concerns for model misspecification. These concerns lead agents to interpret economic outcomes and make decisions through the...
View ArticleOptimal Capital Controls and Real Exchange Rate Policies: A Pecuniary...
A new theoretical literature studies the use of capital controls to prevent financial crises in models in which pecuniary externalities justify government intervention. Within the same theoretical...
View ArticleDeposit Insurance: Theories and Facts -- by Charles W. Calomiris, Matthew...
Economic theories posit that bank liability insurance is designed as serving the public interest by mitigating systemic risk in the banking system through liquidity risk reduction. Political theories...
View ArticleThe Effect of Single-Sex Education on Academic Outcomes and Crime: Fresh...
In 2010, the Ministry of Education in Trinidad and Tobago converted 20 low-performing pilot secondary schools from coed to single-sex. I exploit these conversions to identify the causal effect of...
View ArticleCompulsory Voting, Turnout, and Government Spending: Evidence from Austria --...
We study a unique quasi-experiment in Austria, where compulsory voting laws are changed across Austria's nine states at different times. Analyzing state and national elections from 1949-2010, we show...
View ArticleOpen Access as a Crude Solution to a Hold-up Problem in the Two-Sided Market...
The move from traditional to open-access journals--which charge no subscription fees, only submission fees--is gaining support in academia. We analyze a two-sided-market model in which journals cannot...
View ArticleCommunication in Vertical Markets: Experimental Evidence -- by Claudia...
When an upstream monopolist supplies several competing downstream firms, it may fail to monopolize the market because it is unable to commit not to behave opportunistically. We build on previous...
View ArticleThe Requirements of Jobs: Evidence from a Nationally Representative Survey --...
The Occupational Requirements Survey (ORS) is a new survey at the Bureau of Labor Statistics which collects data on the educational, cognitive, and physical requirements of jobs, as well as the...
View ArticleMultifaceted Aid for Low-Income Students and College Outcomes: Evidence from...
Launched in 2004, the Carolina Covenant combines grant-heavy financial aid with an array of non-financial supports for low-income students at an elite public university. We find that the program...
View ArticleNewer Need Not be Better: Evaluating the Penn World Tables and the World...
Nighttime lights data are a measure of economic activity whose error is plausibly independent of the measurement errors of most conventional indicators. Therefore, we can use nighttime lights as an...
View ArticleLexisNexis Risk Solutions Expands Its Data And Analytics Platform To Include...
LexisNexis® Risk Solutions, a leading provider of data, analytics and technology, has added Flood Re data to its data platform for home insurers and insurance brokers. The addition enables insurers to...
View ArticleBorsa Ä°stanbul VIOPâs Revenue Sharing Based Market Making...
Garanti Bank joined Borsa Ä°stanbul VIOP’s revenue sharing based new market making program for Gold futures. Effective from April 1, 2016, Gold and USD/Ounce Gold Futures were included in the New...
View ArticleCFTC Financial Data For Futures Commission Merchants Update
Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17...
View ArticleU.S. Treasury Department Issues White Paper On Online Marketplace Lending...
The U.S. Treasury Department today issued a white paper regarding its review of the online marketplace lending industry. The white paper titled, “Opportunities and Challenges in Online Marketplace...
View ArticleKeynote Address of Commissioner J. Christopher Giancarlo before the Markit...
Keynote Address of Commissioner J. Christopher Giancarlo before the Markit Group, 2016 Annual Customer Conference New York âBlockchain: A Regulatory Use Caseâ
View ArticleStatement of Dissent by CFTC Commissioner J. Christopher Giancarlo on the...
Statement of Dissent by CFTC Commissioner J. Christopher Giancarlo on the Proposed Amendment to the RTO-ISO Order
View ArticleStatement of Chairman Timothy Massad in Support of the Proposed Amendment to...
Statement of Chairman Timothy Massad in Support of the Proposed Amendment to the RTO-ISO Order
View ArticleKeynote Address Of CFTC Commissioner J. Christopher Giancarlo Before The...
CFTC Commissioner J. Christopher Giancarlo expands on his “do no harm” regulatory approach to distributed ledger technology innovation by outlining five key steps for regulators to implement to...
View ArticleOffice Of Financial Research Update: âDeveloping Best Practices For...
The OFR today issued the Viewpoint Series, a new series representing the views of the OFR. The first viewpoint is entitled, “Developing Best Practices for Regulatory Data Collections,” which is...
View ArticleCFTC Issues Proposed Amendment To The 2013 Final Order Regarding RTOs And ISOs
The U.S. Commodity Futures Trading Commission (CFTC) today issued a proposed amendment to a final order the CFTC issued on March 28, 2013 that exempted certain specified transactions of six Regional...
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