US Multinationals in Puerto Rico and the Repeal of Section 936 Tax Exemption...
Puerto Rico, the Commonwealth Island and unincorporated territory of the United States, was placed under a fiscal Oversight Board by the U.S. Congress in 2016. Unable to pay $72 billion it owes to bond...
View ArticleFunding Value Adjustments -- by Leif Andersen, Darrell Duffie, Yang Song
We demonstrate that the funding value adjustments (FVAs) of major dealers are debt-overhang costs to their shareholders. In order to maximize shareholder value, dealer quotations therefore adjust for...
View ArticleNudging Retirement Savings: A Field Experiment on Supplemental Plans -- by...
Although supplemental saving plans can be an important part of an individual's financial security in retirement, contribution rates remain low, particularly among those with lower salaries and less...
View ArticleLocal Protectionism, Market Structure, and Social Welfare: China's Automobile...
While China has made great strides in transforming its centrally-planned economy to a market-oriented economy, there still exist widespread interregional trade barriers, such as policies and practices...
View ArticleWho Bears the Economic Costs of Environmental Regulations? -- by Don...
Public economics has a well-developed literature on tax incidence - the ultimate burdens from tax policy. This literature is used here to describe not only the distributional effects of environmental...
View ArticleWeekly Top 5 Papers â August 21st 2017
1. Artificial Intelligence Policy: A Roadmap by Ryan Calo (University of Washington – School of Law)read more...
View ArticleChairman Giancarlo Appoints Bruce Tuckman CFTCâs Chief Economist
U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo today appointed Bruce Tuckman, an internationally-recognized economist and expert in modern derivatives markets, as...
View ArticleFake News in Social Networks. (arXiv:1708.06233v1 [cs.AI])
We model the spread of news as a social learning game on a network. Agents can either endorse or oppose a claim made in a piece of news, which itself may be either true or false. Agents base their...
View ArticleEconomic Design of Memory-Type Control Charts: The Fallacy of the Formula...
The memory-type control charts, such as EWMA and CUSUM, are powerful tools for detecting small quality changes in univariate and multivariate processes. Many papers on economic design of these control...
View ArticleBSDEs with weak reflections and partial hedging of American options....
We introduce a new class of \textit{Backward Stochastic Differential Equations with weak reflections} whose solution $(Y,Z)$ satisfies the weak constraint $\textbf{E}[\Psi(\theta,Y_\theta)] \geq m,$...
View ArticlePortfolio Optimization with Entropic Value-at-Risk. (arXiv:1708.05713v1...
The entropic value-at-risk (EVaR) is a new coherent risk measure, which is an upper bound for both the value-at-risk (VaR) and conditional value-at-risk (CVaR). As important properties, the EVaR is...
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[1708.06233] Fake News in Social Networks
Research: Fake News in Social Networks. (arXiv:1708.06233v1 [cs.AI]) https://t.co/m31cWasSga â moneyscience (@moneyscience) August 22, 2017
View ArticleThe UK's current account deficit was even bigger than we thought
UK current account deficit £18bn bigger in 2015 than previously thought says Office for National Statistics https://t.co/ENun9vrDYU â moneyscienceâ¦
View ArticleFinancial Advertising in the Second Generation of Behavioral Finance by Meir...
Financial Advertising in the Second Generation of Behavioral Finance https://t.co/gBLrIgAsS3 via @EmanuelDerman â moneyscience (@moneyscience) August 22, 2017
View ArticleUnemployment: Study of Causes and Possible Solutions. (arXiv:1708.06704v1...
The following measures against unemployment are proposed: In the short term, to promote greater income for the poorest sectors. It is shown that this can be paid with the resulting increased...
View ArticleDynamic correlations at different time-scales with Empirical Mode...
The Empirical Mode Decomposition (EMD) provides a tool to characterize time series in terms of its implicit components oscillating at different time-scales. We apply this decomposition to intraday time...
View ArticleHow Confident Should We Be in Our Hiring Decisions?
Hiring decisions are so critical for leaders, yet they often prove to be the most vexing choices that individuals have to make. Organizations are constantly seeking better ways to screen candidates....
View ArticleNew Breed of Super Quants at NYU Prep for Wall Street
New Breed of Super Quants at NYU Prep for Wall Street https://t.co/wfejWvaVCZ #quant #finance â moneyscience (@moneyscience) August 23, 2017
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