Should they stay or should they go? Climate Migrants and Local Conflicts --...
There is extensive evidence that higher temperature increases the probability of local conflict. There is also some evidence that emigration represents an important margin of adaptation to climatic...
View ArticleMortgage Design in an Equilibrium Model of the Housing Market -- by Adam M....
How can mortgages be redesigned to reduce housing market volatility, consumption volatility, and default? How does mortgage design interact with monetary policy? We answer these questions using a...
View ArticleSaving Lives by Tying Hands: The Unexpected Effects of Constraining Health...
The emergency department (ED) is a complex node of healthcare delivery that is facing market and regulatory pressure across developed economies to reduce wait times. In this paper we study how ED...
View ArticleResource Misallocation in European Firms: The Role of Constraints, Firm...
Using a new survey, we show that the dispersion of marginal products across firms in the European Union is about twice as large as that in the United States. Reducing it to the US level would increase...
View ArticleCapital Flow Management with Multiple Instruments -- by Viral V. Acharya,...
We examine theoretically the role of reserves management and macro-prudential capital controls as ex-post and ex-ante safeguards, respectively, against sudden stops, and argue that these measures are...
View ArticleEffectiveness of Connected Legislators -- by Marco Battaglini, Valerio Leone...
In this paper, we study the extent to which social connections influence the legislative effectiveness of members of the U.S. Congress. We propose a new model of legislative effectiveness that...
View ArticleRace and Economic Opportunity in the United States: An Intergenerational...
We study the sources of racial and ethnic disparities in income using de-identified longitudinal data covering nearly the entire U.S. population from 1989-2015. We document three sets of results....
View ArticleU.S. Employment and Opioids: Is There a Connection? -- by Janet Currie, Jonas...
This paper uses quarterly county-level data to examine the relationship between opioid prescription rates and employment-to-population ratios from 2006-2014. We first estimate models of the effect of...
View ArticleForeign Safe Asset Demand and the Dollar Exchange Rate -- by Zhengyang Jiang,...
We develop a theory that links foreign investors' demand for the safety of U.S. Treasury bonds to the value of the dollar in spot markets. An increase in the convenience yield that foreign investors...
View ArticleThe Impacts of Paid Family Leave Benefits: Regression Kink Evidence from...
Although the United States provides unpaid maternity and family leave to qualifying workers, it is the only OECD country without a national paid leave policy, making wage replacement a pivotal issue...
View ArticleDoes Cheap Talk Affect Market Outcomes? Evidence from eBay -- by Daniel W....
We study the use of and response to cheap talk by firms and their consumers, focusing on unverifiable promises of charitable donations on eBay. For transactions during March 2005 - May 2006, cheap talk...
View ArticleDo Financial Frictions Explain Chinese Firms' Saving and Misallocation? -- by...
We use firm-level data to identify financial frictions in China and explore the extent to which they can explain firms' saving and capital misallocation. We first document the features of the data in...
View ArticleSelecting Directors Using Machine Learning -- by Isil Erel, Lea H. Stern,...
Can an algorithm assist firms in their hiring decisions of corporate directors? This paper proposes a method of selecting boards of directors that relies on machine learning. We develop algorithms with...
View ArticleMarkups Across Space and Time -- by Eric Anderson, Sergio Rebelo, Arlene Wong
In this paper, we provide direct evidence on the behavior markups in the retail sector across space and time. Markups are measured using gross margins. We consider three levels of aggregation: the...
View ArticlesmartTrade Technologies Announces The Promotion Of Annalisa Sarasini To Chief...
smartTrade Technologies, a multi-asset electronic trading pioneer, announces today the promotion of Annalisa Sarasini from Global Head of Sales to Chief Business Development Officer. Annalisa joined...
View ArticleStock Exchange of Thailand Welcomes BMSCG ETF Tracking Mid And Small-Cap...
The Stock Exchange of Thailand (SET) is ready to list BCAP Mid Small CG ETF (BMSCG), the exchange-traded fund (ETF), managed by Bangkok Capital Asset Management Co., Ltd. (BCAP) on March 27. BMSCG aims...
View ArticleDubai Financial Market Launches The “Corporate Actions Calendar”...
Dubai Financial Market (DFM) today launched the “Corporate Actions Calendar” Service through its website. This solution enables market participants including; investors, listed companies and brokers to...
View ArticleESMA Updates Its Q&A On MiFID II Commodity Derivatives Topics
The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) on the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) regarding...
View ArticleEuronext Completes The Acquisition Of The Irish Stock Exchange
Today, Euronext announces the completion of the acquisition of 100% of the shares and voting rights of The Irish Stock Exchange plc[1], after receiving regulatory approvals.read more...
View ArticleInvest Global – Buy Local: 71 International Bonds Join Trading On...
Today, 71 new international bonds have been added to trading on the Vienna Stock Exchange. This gives domestic investors a wider range of international investment options to choose on their domestic...
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