Implementation monitoring of PFMI: Fourth update to Level 1 assessment report
This report provides jurisdictions' updated self-assessments of their progress towards adopting the legislation, regulations and other policies that will enable them to implement the 24 Principles for...
View ArticleWhy Ethereumâs price is dropping
Why is #Ethereum’s price dropping? https://t.co/nHisLXwrW2 — moneyscience (@moneyscience) July 14, 2017
View ArticleEven the Representative Agent Must Die: Using Demographics to Inform...
We develop a demographically-based approach for estimating the utility discount rate (UDR) portion of the Ramsey rule. We show how age-specific mortality rates and life expectancies imply a natural UDR...
View ArticleWhy Do Defaults Affect Behavior? Experimental Evidence from Afghanistan -- by...
We report on an experiment examining why default options impact behavior. Working with one of the largest private firms in Afghanistan, we randomly assigned each of 949 employees to different variants...
View ArticleVulnerability and Clientelism -- by Gustavo J. Bobonis, Paul Gertler, Marco...
Political clientelism is often deemed to undermine democratic accountability and representation. This study argues that economic vulnerability causes citizens to participate in clientelism. We test...
View ArticleWhat Sets College Thrivers and Divers Apart? A Contrast in Study Habits,...
Students from 4-year colleges often arrive having already done very well in high school, but by the end of first term, a wide dispersion of performance emerges, with an especially large lower tail....
View ArticleA Welfarist Role for Nonwelfarist Rules: An example with envy -- by Matthew...
I propose and formalize an argument for why economists working in the welfarist normative tradition should include nonwelfarist principles in how they judge economic policy. The key idea behind this...
View ArticleOptimal Regulation of Financial Intermediaries -- by Sebastian Di Tella
I characterize the optimal financial regulation policy in an economy where financial intermediaries trade capital assets on behalf of households, but must retain an equity stake to align incentives....
View ArticleCheck Up Before You Check Out: Retail Clinics and Emergency Room Use -- by...
Retail clinics are an innovation that has the potential to improve competition in health care markets. We use the universe of emergency room (ER) visits in New Jersey from 2006-2014 to examine the...
View ArticleThe Employment Effects of Minimum Wages: Some Questions We Need to Answer --...
The literature on the employment effects of minimum wages is about a century old, and includes hundreds of studies. Yet the debate among researchers about the employment effects of minimum wages...
View ArticleDeclining Competition and Investment in the U.S. -- by German Gutierrez,...
The U.S. business sector has under-invested relative to Tobin's Q since the early 2000's. We argue that declining competition is partly responsible for this phenomenon. We use a combination of natural...
View ArticleThe Arrival of Fast Internet and Employment in Africa -- by Jonas Hjort,...
To show how fast Internet affects employment in Africa, we exploit the gradual arrival of submarine Internet cables and maps of the terrestrial cable network. Robust difference-in-differences estimates...
View ArticleGeography, Search Frictions and Endogenous Trade Costs -- by Giulia...
We leverage detailed data on vessel movements and shipping contracts to shed new light on world trade costs and trade flows. The data reveal new facts about shipping patterns, and motivate us to build...
View ArticleThe Cyclical Sensitivity in Estimates of Potential Output -- by Olivier...
The fact that most of the persistent declines in output since the Great Recession have parlayed into equivalent declines in measures of potential output is commonly interpreted as implying that output...
View ArticleRisk Preferences in Small and Large Stakes: Evidence from Insurance Contract...
We examine risk preferences using the flood insurance decisions of over 100,000 households. In each contract, households make a small stakes decision, the deductible, and a large stakes one, the...
View ArticleIncome Mobility, Income Risk and Welfare -- by Tom Krebs, Pravin Krishna,...
This paper presents a framework for the quantitative analysis of individual income dynamics, mobility and welfare, with ex-ante identical individuals facing a stochastic income process and market...
View ArticleGeographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?...
A geographic cross-sectional fiscal spending multiplier measures the effect of an increase in spending in one region in a monetary union. Empirical studies of such multipliers have proliferated in...
View ArticleIncentives for Replication in Economics -- by Sebastian Galiani, Paul...
Replication is a critical component of scientific credibility as it increases our confidence in the reliability of the knowledge generated by original research. Yet, replication is the exception rather...
View ArticleRisky Business? The Effect of Majoring in Business on Earnings and...
One of the most important decisions a student can make during the course of his or her college career is the choice of major. The field of study a student selects translates directly into the types of...
View ArticleThe Methuselah Effect: The Pernicious Impact of Unreported Deaths on Old Age...
We examine inferences about old age mortality that arise when researchers use survey data matched to death records. We show that even small rates of failure to match respondents can lead to substantial...
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