Regulating Capital Flows to Emerging Markets: An Externality View -- by Anton...
We show that capital flows to emerging market economies create externalities that differ by an order of magnitude depending on the state-contingent payoff profile of the flows. Those with pro-cyclical...
View ArticleRecent Manufacturing Employment Growth: The Exception That Proves the Rule....
This Paper challenges two widely held views: first that trade performance has been the primary reason for the declining share of manufacturing employment in the United States and other industrial...
View ArticleIncreasing Community College Completion Rates among Low-Income Students:...
Community colleges are an important part of the higher education landscape in the United States, but completion rates are extremely low, especially among low-income students. Much of the existing...
View ArticleRules Versus Discretion: Assessing the Debate Over the Conduct of Monetary...
This paper reviews the state of the debate over rules versus discretion in monetary policy, focusing on the role of economic research in this debate. It shows that proposals for policy rules are...
View ArticleShort-Run and Long-Run Effects of Milton Friedman's Presidential Address --...
The immediate effect of Friedman's 1968 AEA presidential address on the economics profession was the introduction of an adaptive term in the Phillips curve that shifted the curve, as Friedman proposed,...
View ArticleLabor Market Concentration -- by Jose Azar, Ioana Marinescu, Marshall I....
A product market is concentrated when a few firms dominate the market. Similarly, a labor market is concentrated when a few firms dominate hiring in the market. Using data from the leading employment...
View ArticleAugmenting Markets with Mechanisms -- by Samuel Antill, Darrell Duffie
We compute optimal mechanism designs for each of a sequence of size-discovery sessions, at which traders submit reports of their excess inventories of an asset to a session operator, which allocates...
View ArticleMoscow Exchange: Final Settlement Of Brent Oil Futures Contract In January 2019
Please note that in January 2019, the MOEX Brent Oil Futures Contract will be settled as follows.read more...
View ArticleThe Death of the ICO (And 4 Other 2018 Predictions)
The year of interoperability? Or enterprise digital asset adoption? Both futures might be on the table for 2018, according to Ripple's CTO.
View ArticleApproximation methods for piecewise deterministic Markov processes and their...
In this paper, we analyse piecewise deterministic Markov processes, as introduced in Davis (1984). Many models in insurance mathematics can be formulated in terms of the general concept of piecewise...
View ArticleNon-stochastic portfolio theory. (arXiv:1712.09108v1 [q-fin.PM])
This note poses the problem of developing a non-stochastic version of Fernholz's stochastic portfolio theory and discusses a possible approach to it. In particular, it gives a non-stochastic...
View ArticleLogistic map with memory from economic model. (arXiv:1712.09092v1 [q-fin.EC])
A generalization of the economic model of logistic growth, which takes into account the effects of memory and crises, is suggested. Memory effect means that the economic factors and parameters at any...
View ArticleConcept of dynamic memory in economics. (arXiv:1712.09088v1 [q-fin.EC])
In this paper we discuss a concept of dynamic memory and an application of fractional calculus to describe the dynamic memory. The concept of memory is considered from the standpoint of economic models...
View ArticleDynamic intersectoral models with power-law memory. (arXiv:1712.09087v1...
Intersectoral dynamic models with power-law memory are proposed. The equations of open and closed intersectoral models, in which the memory effects are described by the Caputo derivatives of...
View ArticlePlayer-Compatible Equilibrium. (arXiv:1712.08954v1 [q-fin.EC])
We define Player-Compatible Equilibrium or "PCE," which imposes cross-player restrictions on magnitudes of the players' "trembles" onto different actions. These restrictions are inspired by the idea...
View ArticleMaximizing the Collective Learning Effects in Regional Economic Development....
Collective learning in economic development has been revealed by recent empirical studies, however, investigations on how to benefit most from its effects remain still lacking. In this paper, we...
View ArticleThe Parable of the Fruit Sellers Or, A Game of Random Variables....
This paper analyzes a simple game with $n$ players. Fix a mean in interval $[0, 1]$ and let each player choose any random variable distributed on that interval with the given mean. The winner of the...
View ArticleClosed-form Solutions for the Lucas-Uzawa model: Unique or Multiple....
Naz and Chaudhry [3] established multiple closed-form solutions for the basic Lucas-Uzawa model. According to Boucekkine and Ruiz-Tamarit [1] and Chilarescu [2] unique closed-form solutions exist for...
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The Demise of Movie Theaters?
Source: https://www.the-numbers.com/market/2017 = ProjectionMany analysts have focused on the potential demise of traditional cable television service, given the pace of cord cutting and the rapid...
View ArticleShanghai Futures Exchange: Notice On Market Risk Control During The New...
The New Year’s Day Holiday of 2018 is approaching. According to the notice on holiday schedule and market close, the Exchange’s futures markets will be closed on holidays from December 30, 2017 through...
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