Banking, Trade, and the making of a Dominant Currency -- by Gita Gopinath,...
We explore the interplay between trade invoicing patterns and the pricing of safe assets in different currencies. Our theory highlights the following points: 1) a currency's role as a unit of account...
View ArticleFraming Effects, Earnings Expectations, and the Design of Student Loan...
Income-driven student loan repayment (IDR) plans provide protection against unaffordable loan payments and default by linking loan payments to borrowers' earnings. Despite the advantages IDR would...
View ArticleSome Simple Bitcoin Economics -- by Linda Schilling, Harald Uhlig
How do Bitcoin prices evolve? What are the consequences for monetary policy? We answer these questions in a novel, yet simple endowment economy. There are two types of money, both useful for...
View ArticleEngineering Informal Institutions: Long-run Impacts of Alternative Dispute...
Informal institutions govern property rights and disputes when formal systems are weak. Well-functioning institutions should help people reach and maintain bargains, minimizing violence. Can outside...
View ArticleCoordinating Separate Markets for Externalities -- by Jose-Miguel Abito,...
We show that inefficiencies from having separate markets to correct an environmental externality are significantly mitigated when firms participate in an integrated product market. Firms take into...
View ArticleAmbulance Utilization in New York City after the Implementation of the...
Expanding insurance coverage could, by insulating patients from having to pay full cost, encourage the utilization of arguably unnecessary medical services. It could also eliminate (or at least...
View ArticleBeauty, Job Tasks, and Wages: A New Conclusion about Employer Taste-Based...
We use novel data from the Berea Panel Study to reexamine the labor market mechanisms generating the beauty wage premium. We find that the beauty premium varies widely across jobs with different task...
View ArticleFirm Sorting and Agglomeration -- by Cecile Gaubert
The distribution of firms in space is far from uniform. Some locations host the most productive large firms, while others barely attract any. In this paper, I study the sorting of heterogeneous firms...
View ArticleOn Heckits, LATE, and Numerical Equivalence -- by Patrick M. Kline,...
Structural econometric methods are often criticized for being sensitive to functional form assumptions. We study parametric estimators of the local average treatment effect (LATE) derived from a widely...
View ArticleSell Low and Buy High: Arbitrage and Local Price Effects in Kenyan Markets --...
Large and regular seasonal price fluctuations in local grain markets appear to offer African farmers substantial inter-temporal arbitrage opportunities, but these opportunities remain largely...
View ArticleHow the Reformulation of OxyContin Ignited the Heroin Epidemic -- by William...
We attribute the recent quadrupling of heroin death rates to the August, 2010 reformulation of an oft-abused prescription opioid, OxyContin. The new abuse-deterrent formulation led many consumers to...
View ArticleFinancial Development, Growth, and Crisis: Is There a Trade-Off? -- by Norman...
This paper reviews the evolving literature that links financial development, financial crises, and economic growth in the past 20 years. The initial disconnect--with one literature focusing on the...
View ArticleBME Supports The Caracas Stock Exchange In Its Trading Platform Upgrade
The Caracas Stock Exchange has successfully launched a new version of the SMART-SIBE trading platform, developed by BME and in production since 1999.read more...
View ArticleTMX Group Equity Financing Statistics – March 2018
TMX Group today announced its financing activity on Toronto Stock Exchange and TSX Venture Exchange for March 2018.read more...
View ArticleSEC Charges Texas Company, Principals In Multimillion Dollar Ponzi Scheme...
On April 6, 2018, the Securities and Exchange Commission charged two Texas companies and their principals in a $2.4 million Ponzi scheme and in a related, $1.4 million offering fraud targeting...
View ArticleOverstock's tZero Unveils Token Trading Platform Prototype
Overstock announced its prototype trading platform on Monday, saying the full product would launch in May.
View ArticleSamoa's Central Bank Investigates OneCoin Investment Scheme
The Central Bank of Samoa is investigating the OneCoin crypto investment scheme and has issued a warning about the business to investors.
View ArticleEEX: Name Change Of Iron Ore Futures
EEX Group has renamed its Iron Ore Futures to Iron Ore 62% Fe China Futures with immediate effect.read more...
View ArticleESMA Publishes The Calculations For The March DVC
Within five working days of the end of the month, the European Securities and Markets Authority (ESMA) shall publish the trading volumes and calculations regarding the double volume cap (DVC) under the...
View ArticleAlberta Securities Commission Announces Appointment Of Two New Commission...
The Alberta Securities Commission (ASC) is pleased to announce that the Lieutenant Governor in Council has appointed Steven Cohen, LL.B and Raymond Crossley, CPA, CA, ICD.D as ASC members, each for a...
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