Wage Flexibility and Employment Fluctuations: Evidence from the Housing...
Many economists suspect that downward nominal wage rigidities in ongoing labor contracts are an important source of employment fluctuations over the business cycle but there is little direct empirical...
View ArticleDoes Rosie Like Riveting? Male and Female Occupational Choices -- by Grace...
Occupational segregation and pay gaps by gender remain large while many of the constraints traditionally believed to be responsible for these gaps have weakened over time. Here, we explore the...
View ArticleLevel versus Variability Trade-offs in Wind and Solar Generation Investments:...
Hourly plant-level wind and solar generation output and real-time price data for one year from the California ISO control area is used to estimate the vector of means and the contemporaneous covariance...
View ArticleDo Private Equity Funds Manipulate Reported Returns? -- by Gregory W. Brown,...
Private equity funds hold assets that are hard to value. Managers may have an incentive to distort reported valuations if these are used by investors to decide on commitments to subsequent funds...
View ArticleWhy Does Idiosyncratic Risk Increase with Market Risk? -- by Soehnke M....
From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive relation between IR and MR is highly stable through time and is robust across exchanges,...
View ArticleThe Morale Effects of Pay Inequality -- by Emily Breza, Supreet Kaur, Yogita...
The idea that worker utility is affected by co-worker wages has potentially broad labor market implications. In a month-long experiment with Indian manufacturing workers, we randomize whether...
View ArticleParalyzed by Fear: Rigid and Discrete Pricing under Demand Uncertainty -- by...
Price rigidity is central to many predictions of modern macroeconomic models, yet, standard models are at odds with certain robust empirical facts from micro price datasets. We propose a new,...
View ArticleUnderstanding the Gains from Wage Flexibility: The Exchange Rate Connection...
We study the gains from increased wage flexibility using a small open economy model with staggered price and wage setting. Two results stand out: (i) the effectiveness of labor cost reductions as a...
View ArticleGender Differences in Cooperative Environments? Evidence from the U.S....
This paper uses data on bill sponsorship and cosponsorship in the U.S. House of Representatives to estimate gender differences in cooperative behavior. We employ a number of econometric methodologies...
View ArticleHeads or Tails: The Impact of a Coin Toss on Major Life Decisions and...
Little is known about whether people make good choices when facing important decisions. This paper reports on a large-scale randomized field experiment in which research subjects having difficulty...
View ArticlePeer Information and Risk-taking under Competitive and Non-competitive Pay...
Incentive schemes that reward participants based on their relative performance are often thought to be particularly risk-inducing. Using a novel, real-effort task experiment in the laboratory, we find...
View ArticleMacro-Finance -- by John H. Cochrane
Macro-finance addresses the link between asset prices and economic fluctuations. Many models reflect the same rough idea: the market's ability to bear risk varies over time, larger in good times, and...
View ArticleTullett Prebon To Launch Innovative Electronic Trading Platform - Delivering...
Tullett Prebon, one of the world’s leading interdealer brokers, announces that it has entered into a partnership with GMEX Group to develop a best-in-class hybrid voice and electronic trading platform...
View ArticleUK's Financial Conduct Authority: Cenkos Securities Fined For Failure To...
The Financial Conduct Authority (FCA) has today fined Cenkos Securities plc (Cenkos) £530,500 for failures in its sponsor services business. Cenkos failed to have appropriate systems and controls in...
View ArticleFollowing The Success Of The TA-25 Index Weekly Options Tel Aviv Stock...
The board of directors of the Tel Aviv Stock Exchange (TASE) decided in its meeting on Thursday (August 4, 2016) to launch US Dollar weekly options. Weekly TA-25 Index options were introduced by TASE...
View ArticleBats Europe To Launch New European Equities Large In Scale Negotiation...
Bats Europe, the region’s largest stock exchange operator, and BIDS Trading LP (BIDS), the largest block trading ATS by volume in the U.S., announced today that Bats Europe has agreed to license BIDS...
View ArticleACER Consults Stakeholders On The âCongestion Indicatorsâ For Gas...
ACER launches today a call for Evidence on the “congestion indicators” included in the European Commission Guidelines on Congestion Management Procedures.read more...
View ArticleRussian Issuers Hold First Shareholders Meetings Using New Technology
National Settlement Depository (NSD), Russia’s central securities depository, held first corporate actions using a new technology in accordance with legislative amendments put into effect 1 July 2016...
View ArticleREDI Expands Asia-Pacific Presence With Data Center Build-Out, Staff Additions
REDI Global Technologies today announced the expansion of its Asia-Pacific data center infrastructure, as well as the addition of several new staff in the region. This builds on REDI’s points of...
View ArticleBelektron Extends Market Making At EEX Emissions Market
The European Energy Exchange (EEX) welcomes Belektron d.o.o. as a new Market Maker on the Derivatives Market for Emission Allowances. Since January 2015, Belektron has been active as a Market Maker on...
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