Income and Wealth Distribution in Macroeconomics: A Continuous-Time Approach...
We recast the Aiyagari-Bewley-Huggett model of income and wealth distribution in continuous time. This workhorse model - as well as heterogeneous agent models more generally - then boils down to a...
View ArticleJob Search Behavior among the Employed and Non-Employed -- by R. Jason...
Using a unique new survey, we study the relationship between search effort and outcomes for employed and non-employed workers. We find that the employed fare better than the non-employed in job search:...
View ArticleThe Rise and Fall of Pellagra in the American South -- by Karen Clay, Ethan...
The result of insufficient niacin consumption, pellagra caused more deaths than any other nutrition-related disease in American history, and it reached epidemic proportions in the South during the...
View ArticleSocial Security Claiming Decisions: Survey Evidence -- by John B. Shoven,...
While research shows that there are large gains in lifetime wealth from delaying claiming Social Security, most people claim at or before full retirement age. We fielded an original, nationally...
View ArticleThe Role of Entrepreneurial Human Capital as a Driver of Endogenous Economic...
We model investment in entrepreneurial human capital (EHC) - the representative enterprise's share of production capacity allocated to investment in innovative industrial and commercial knowledge - as...
View ArticleSelf-Control and Demand for Preventive Health: Evidence from Hypertension in...
Self-control problems constitute a potential explanation for the under-investment in preventive health care observed in low-income countries. A commonly proposed policy tool to solve such problems is...
View ArticleIdentifying Exchange Rate Common Factors -- by Ryan Greenaway-McGrevy,...
Using recently developed model selection procedures, we determine that exchange rate returns are driven by a two-factor model. We identify them as a dollar factor and a euro factor. Exchange rates are...
View ArticleEngineering Educational Opportunity: Impacts of 1970s and 1980s Policies to...
Throughout the 1970s and 1980s, U.S. institutions of higher education began to address long-standing patterns of exclusion. Initial efforts to improve the access of black students to engineering...
View ArticleShort and Long Run Uncertainty -- by Jose Maria Barrero, Nicholas Bloom, Ian...
Uncertainty appears to have both a short-run and a long-run component, which we measure using firm and macro implied volatility data from options of 30 days to 10 years duration. We ask what may be...
View ArticleWeekly Top 5 Papers â August 28th 2017
1. A Brief Introduction to the Basics of Game Theory by Matthew O. Jackson (Stanford University â Department of Economics)read more...
View ArticleDefault Contagion with Domino Effect , A First Passage Time Approach....
The present paper introduces a structural framework to model dependent defaults, with a particular interest in their contagion.
View ArticleAn equilibrium-conserving taxation scheme for income from capital....
Under conditions of market equilibrium, the distribution of capital income follows a Pareto power law, with an exponent that characterizes the given equilibrium. Here, a simple taxation scheme is...
View ArticleA Simple Algorithm for Solving Ramsey Optimal Policy with Exogenous Forcing...
This algorithm extends Ljungqvist and Sargent (2012) algorithm of Stackelberg dynamic game to the case of dynamic stochastic general equilibrium models including exogenous forcing variables. It is...
View ArticleLeadership Results: How to Create Adaptive Leaders and High-Performing...
Leadership Results explores the fall of traditional leadership thinking and the struggling multibillion dollar leadership development industry that is failing to deliver results, and explains the...
View ArticleBlind Spots: How to uncover and attract the fastest emerging economy
Blind Spots outlines the way forward for companies who want to get early-mover advantage on this new $28 trillion economy. This powerful market has remained untapped, ignored and underserved despite...
View ArticleSocial Media for Business: Foolproof Tips to Help You Promote Your Business...
Social Media for Business is the essential guide to navigating the social media maelstrom and effectively promoting your business online. You'll learn how to develop a simple marketing plan, use social...
View ArticleIn a Blast From a Financial Crisis Past, Synthetic CDOs Are Back
The market for collateralized debt obligations (CDOs) is on the rise again after years on the decline https://t.co/jgqsp4WyZR â moneyscience (@moneyscience)â¦
View ArticleQuality Pricing-to-Market
This paper analyses firm's pricing-to-market decisions in vertically differentiated industries. We first present a model featuring firms that sell goods of heterogeneous quality levels to consumers who...
View ArticleThe Distance Effect in Banking and Trade
The empirical gravity literature finds geographical distance to be a large and growing obstacle to trade, contradicting the popular notion that globalization heralds "the end of geography". This...
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