Beetles: Biased Promotions and Persistence of False Belief -- by George...
This paper develops a theory of promotion based on evaluations by the already promoted. The already promoted show some favoritism toward candidates for promotion with similar beliefs, just as beetles...
View ArticleThe Relevance of Broker Networks for Information Diffusion in the Stock...
This paper shows that the network of relationships between brokers and institutional investors shapes the information diffusion in the stock market. We exploit trade-level data to show that central...
View ArticleA Generalized Approach to Indeterminacy in Linear Rational Expectations...
We propose a novel approach to deal with the problem of indeterminacy in Linear Rational Expectations models. The method consists of augmenting the original model with a set of auxiliary exogenous...
View ArticleHigh School Genetic Diversity and Later-life Student Outcomes: Micro-level...
A novel hypothesis posits that levels of genetic diversity in a population may partially explain variation in the development and success of countries. Our paper extends evidence on this novel question...
View ArticleHeterogeneous Yield Impacts from Adoption of Genetically Engineered Corn and...
Concern about declining growth in crop yields has renewed debates about the ability of biotechnology to promote food security. While numerous experimental and farm-level studies have found that...
View ArticleHealth Plan Payment in Medicaid Managed Care: A Hybrid Model of Regulated...
Medicaid, the government program for providing health insurance to low-income and disabled Americans, is the largest health insurer in the United States with more than 73 million enrollees. It is also...
View ArticleThe Shock of Falling Among Older Americans -- by Inas Rashad Kelly
Direct medical costs associated with falls have been shown to be $34 billion in 2013, an underestimate since full costs are not factored in. Using the 1998-2012 waves of the Health and Retirement Study...
View ArticleUnions, Workers, and Wages at the Peak of the American Labor Movement -- by...
We study a novel dataset compiled from archival records, which includes information on men's wages, union status, educational attainment, work history, and other background variables for several cities...
View ArticleReorganization or Liquidation: Bankruptcy Choice and Firm Dynamics -- by Dean...
In this paper, we ask how bankruptcy law affects the financial decisions of corporations and its implications for firm dynamics. According to current U.S. law, firms have two bankruptcy options:...
View ArticleMortality Inequality in Canada and the U.S.: Divergent or Convergent Trends?...
Mortality is a crucial dimension of wellbeing and inequality in a population, and mortality trends have been at the core of public debates in many Western countries. In this paper, we provide the first...
View ArticleCrop Disease and Agricultural Productivity -- by Christine L. Carroll, Colin...
Crop diseases and how they are managed can have a large impact on agricultural productivity. This paper discusses the effects on agricultural productivity of Verticillium dahliae, a soil borne fungus...
View ArticleCredit Market Freezes -- by Efraim Benmelech, Nittai K. Bergman
Credit market freezes in which debt issuance declines dramatically and market liquidity evaporates are typically observed during financial crises. In the financial crisis of 2008-09, the structured...
View ArticleFinance, farms, and the Fed's early years -- by Bruce Carlin, William Mann
We provide causal evidence that discount rate changes by the Federal Reserve affected economic output in the 1920s. Our identification strategy exploits county-level variation in access to the Fed's...
View ArticleRight-to-Carry Laws and Violent Crime: A Comprehensive Assessment Using Panel...
The 2004 report of the National Research Council (NRC) on Firearms and Violence recognized that violent crime was higher in the post-passage period (relative to national crime patterns) for states...
View ArticleWeekly Top 5 Papers â June 19th 2017
1. Is it Ethical to Teach that Beta and CAPM Explain Something? by Pablo Fernandez (University of Navarra – IESE Business School)read more...
View ArticleIOSCO issues report on order routing incentives as part of effort to protect...
IOSCO/MR/11/2017read more...
View ArticleSymbolic dynamics techniques for complex systems: Application to share price...
The symbolic dynamics technique is well-known for low-dimensional dynamical systems and chaotic maps, and lies at the roots of the thermodynamic formalism of dynamical systems. Here we show that this...
View ArticleSpeed and biases of Fourier-based pricing choices: A numerical analysis....
We compare the CPU effort and pricing biases of six Fourier-based implementations. Our analyses show that truncation and discretization errors significantly increase as we move away from the Black-...
View ArticleMacroprudential policy and bank risk
This paper investigates the effects of macroprudential policies on bank risk through a large panel of banks operating in 61 advanced and emerging market economies. There are three main findings. First,...
View ArticleYou Don't Always Want To Focus
Dr. Srini Pillay, an author and executive coach who teaches part-time at Harvard Medical School, has written an intriguing HBR post about the value of "focus" in our work. Pillay argues that focus can...
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