Why ICOs Could Eat Delaware's Lunch
Delaware's status as a go-to jurisdiction for business can't be taken for granted as tokens take off and issuers flock to blockchain-friendly states.
View ArticleTesting $10K? Bitcoin Price Hits 4-Week High As Altcoins Shine
Despite the pullback from $9,060, the outlook for bitcoin, the world's largest cryptocurrency, remains bullish.
View ArticleCommuniqué Of The Thirty-Seventh Meeting Of The International Monetary...
The Committee expresses its deep gratitude to its former Chair, Mr. AgustÃn Carstens, for his invaluable contribution to the work of the Committee during 2015-17, and extends its best wishes to him as...
View Article'WordPress of Blockchain' Startup Seeks to Solve Enterprise Pain Points
Elemential, which is based in Mumbai, India, seeks to remove the pain of “blockchain administration."
View ArticleThe Impact of New Drug Launches on Life-Years Lost in 2015 from 19 Types of...
This study employs a two-way fixed effects research design to measure the mortality impact and cost-effectiveness of cancer drugs: it analyzes the correlation across 36 countries between relative...
View ArticleEvidence-Based Policymaking: Promise, Challenges and Opportunities for...
The use of evidence and economic analysis in policymaking is on the rise, and accounting standard setting and financial regulation are no exception. This article discusses the promise of evidence-based...
View ArticleThe Optimal Supply of Public and Private Liquidity -- by Marina Azzimonti,...
We develop a theory of optimal government debt in which publicly-issued and privately-issued safe assets are substitutes. While government bonds are backed by future tax revenues, privately-issued safe...
View ArticleSocial Capital, Government Expenditures and Growth -- by Giacomo A.M....
This paper shows that social capital increases economic growth by raising government investment in human capital. We present a model of stochastic endogenous growth with imperfect political agency....
View ArticleGeography and Agricultural Productivity: Cross-Country Evidence from Micro...
Why is agricultural productivity so low in poor countries relative to the rest of the world? Is it due to geography or constrained economic choices? We assess the quantitative role of geography and...
View ArticleThe Elasticity of Taxable Income in the Presence of Intertemporal Income...
Knowing the elasticity of taxable income (ETI) is crucial for understanding the effects of taxation on taxpayer behavior and consequently on tax revenues. Previous research finds that high-income...
View ArticleThe Production of Inequalities within Families and Across Generations: The...
There has long been interest in the extent to which effects of social stratification extend and persist across generations. We take a novel approach to this question by asking whether birth order and...
View ArticleA Measure of Risk Appetite for the Macroeconomy -- by Carolin Pflueger, Emil...
We document a strong and robust positive relationship between real rates and the contemporaneous valuation of volatile stocks, which we contend measures the economy's risk appetite. Our novel proxy for...
View ArticleDo Opioids Help Injured Workers Recover and Get Back to Work? The Impact of...
We estimate the effect of opioid prescriptions on the duration of temporary disability benefits among workers with work-related low back injuries. We use local opioid prescribing patterns to construct...
View ArticleEscaping Import Competition and Downstream Tariffs -- by Ana Cecilia Fieler,...
We propose and provide evidence for a new source of gains from trade: Firms invest in product differentiation to escape import competition. In the data and in the model, these investments are...
View ArticleHow Redeployable are Patent Assets? Evidence from Failed Startups -- by...
Entrepreneurial firms are important sources of patented inventions. Yet little is known about what happens to patents "released" to the market when startups fail. This study provides a first look at...
View ArticleIndivisibilities in Distribution -- by Thomas J. Holmes, Ethan Singer
This paper develops and estimates a model of indivisibilities in shipping and economies of scale in consolidation. It uses highly detailed data on imports for which it is possible to observe the...
View ArticleThe Production of Cognitive and Non-cognitive Human Capital in the Global...
A country's welfare depends on its ability to accumulate cognitive and noncognitive human capital. However, we do not fully understand what makes some countries successful at producing human capital...
View ArticleCost of Experimentation and the Evolution of Venture Capital -- by Michael...
We study how technological shocks to the cost of starting new businesses have led the venture capital model to adapt in fundamental ways over the prior decade. We both document and provide a framework...
View ArticleOptimal Taxation and Debt Management without Commitment -- by Davide...
This paper considers optimal fiscal policy in a deterministic Lucas and Stokey (1983) economy in the absence of government commitment. In every period, the government chooses a labor income tax and...
View ArticleLocked Out of Coinbase: Why Are Wyoming's Bitcoin Users Still Waiting?
A month after Wyoming changed a law to let Coinbase restore service in the state, users there are still waiting to regain access to their funds.
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