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The Bitcoin Boom: Asset, Currency, Commodity or Collectible?
As I have noted with my earlier posts on crypto currencies, in general, and bitcoin, in particular, I find myself disagreeing with both its most virulent critics and its strongest proponents. Unlike...
View ArticleAmazon: No Need to Disclose (yet)
Shira Ovide has a terrific article for Bloomberg BusinessWeek titled, "Amazon Takes Secrecy to a Comic Extreme." She writes,Companies, of course, would prefer to reveal as little as possible. And...
View ArticleA Topological Approach to Scaling in Financial Data. (arXiv:1710.08860v1...
There is a large body of work, built on tools developed in mathematics and physics, demonstrating that financial market prices exhibit self-similarity at different scales. In this paper, we explore the...
View Article$\epsilon$-Monotone Fourier Methods for Optimal Stochastic Control in...
Stochastic control problems in finance having complex controls inevitably give rise to low order accuracy, usually at most second order. Fourier methods are efficient at advancing the solution between...
View ArticleLead with Wisdom: How Wisdom Transforms Good Leaders into Great Leaders
This book argues that great leadership requires wisdom. Rather than a formulaic managerial approach to leadership, Lead with Wisdom presents the case for leadership based on our shared humanity and the...
View ArticleIdentification and management of step-in risk
The Basel Committee is publishing guidelines on identification and management of step-in risk, October 2017.
View ArticleImplications of Medicaid Financing Reform for State Government Budgets -- by...
We analyze potential reforms to Medicaid financing through the lens of fiscal federalism. Because substantial dollars are at stake, both the economic and political sides of intergovernmental transfers...
View ArticleDiagnosing the Italian Disease -- by Bruno Pellegrino, Luigi Zingales
We try to explain why Italy's labor productivity stopped growing in the mid-1990s. We find no evidence that this slowdown is due to trade dynamics, Italy's inefficient governmental apparatus, or...
View ArticleThe Lifetime Costs of Bad Health -- by Mariacristina De Nardi, Svetlana...
Health shocks are an important source of risk. People in bad health work less, earn less, face higher medical expenses, die earlier, and accumulate much less wealth compared to those in good health....
View ArticleMarketing Agencies and Collusive Bidding in Online Ad Auctions -- by...
The transition of the advertising market from traditional media to the internet has induced a proliferation of marketing agencies specialized in bidding in the auctions that are used to sell ad space...
View ArticleSticky Prices Versus Sticky Information: Does it Matter for Policy Paradoxes?...
This paper shows that government spending multiplier at the zero lower bound (ZLB) is larger under sticky information than under sticky prices. Similarly, well known paradoxes, e.g., the paradox of...
View ArticleMarket Reforms at the Zero Lower Bound -- by Matteo Cacciatore, Romain Duval,...
This paper studies the impact of product and labor market reforms when the economy faces major slack and a binding constraint on monetary policy easing---such as the zero lower bound. To this end, we...
View ArticleThe Benefits and Costs of Donor Advised Funds -- by James Andreoni
Donor Advised Funds (DAFs) are now a major source of charitable donations in the US, responsible for 1 in 10 dollars donated to charity in 2015. In 2016, Fidelity Charitable, whose only mission is to...
View Articlehttps://t.co/t3jOKwkFa5
Mind boggling map of 'All of the world's money and markets' from @VisualCap https://t.co/t3jOKwkFa5 â Paul Langley (@_paullangley) October 27, 2017
View ArticleRecord surge in atmospheric CO2 in 2016
How do financial markets and insurers react to news like this? Record surge in atmospheric CO2 seen in 2016 https://t.co/L39tqrkxQ4 â Risk Managementâ¦
View ArticleWeekly Top 5 Papers â October 30th, 2017
1. Private Benefits in Public Offerings: Tax Receivable Agreements in IPOs by Gladriel Shobe (Brigham Young University – J. Reuben Clark Law School)read more...
View ArticleWhy Don't We Reflect & Learn?
Most leaders acknowledge the value of learning from past experience. Some organizaitons have established highly regarded best practices for deriving lessons learned from past projects. For instance,...
View ArticleCFTC Commissioner Behnam Named Sponsor of the Market Risk Advisory Committee
The Commodity Futures Trading Commission (CFTC) today announced that Commissioner Rostin Behnam will sponsor the Market Risk Advisory Committee (MRAC). The agency also announced temporary sponsors for...
View ArticleOn Fair Reinsurance Premiums; Capital Injections in a Perturbed Risk Model....
We consider a risk model in which deficits after ruin are covered by a new type of reinsurance contract that provides capital injections which depend on a chosen level of retention. To allow the...
View ArticleSimulating the deep decarbonisation of residential heating for limiting...
We take a simulation-based approach for modelling ten scenarios, aiming at near-zero global CO2 emissions by 2050 in the residential heating sector, using different combinations of policy instruments....
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