Adding it all up: the macroeconomic impact of Basel II and outstanding reform...
As the Basel III package nears completion, the emphasis is shifting to monitoring its implementation and assessing the impact of the reforms. This paper presents a simple conceptual framework to assess...
View ArticleThomson Reuters To Offer Financial Community Exclusive, Live U.S. Election...
Thomson Reuters will host live news and commentary on the U.S. elections for Eikon Messenger users via its Global Markets Forum (GMF) as events unfold, offering the market direct access to senior...
View ArticleFidessa's Sentinel Named Best Buy-Side Compliance Product - Seventh Win In...
Fidessa group plc (LSE: FDSA) today announced that Sentinel has been voted best buy-side compliance product at the 2016 Buy-side Technology Awards. This is the seventh win for Sentinel at these awards...
View ArticleSave The Date: ACER-CEER Conference: âThe New Energy Market Design...
ACER and CEER will host a conference in Brussels to discuss the key issues and associated regulatory challenges emerging from the European Commission’s proposals on the new Energy Market Design.  The...
View ArticleMoscow Exchange: A New Approach To The Long Codes Of Options On Derivatives...
Moscow Exchange in accordance with the recommendations of the Technological Committee (dated 9 September 2016) and the Derivatives Market Committee (from September 20, 2016) will adopt a new approach...
View ArticleExchange Traded Fund Workshop Welcome Address By Mr. Oscar N. Onyema, OON,...
Good morning distinguished ladies and gentlemen:read more...
View ArticleAnalyzing the Influence of Occupational Licensing Duration on Labor Market...
We analyze the labor market influence of the duration of occupational licensing statutes for 12 major universally licensed occupations over a 73 year period. These occupations comprise the vast...
View ArticleMisallocation, Establishment Size, and Productivity -- by Pedro Bento, Diego...
We consider a tractable model of heterogeneous production units that features endogenous entry and productivity investment to assess the quantitative impact of policy distortions on aggregate output...
View ArticleHow Information Affects Support for Education Spending: Evidence from Survey...
We study whether current spending levels and public knowledge of them contribute to transatlantic differences in policy preferences by implementing parallel survey experiments in Germany and the United...
View ArticleThe Social Cost of Carbon Revisited -- by Robert S. Pindyck
An estimate of the social cost of carbon (SCC) is key to climate policy. But how should we estimate the SCC? A common approach is to use an integrated assessment model (IAM) to simulate time paths for...
View ArticleThe Compositional Effect of Rigorous Teacher Evaluation on Workforce Quality...
Improving public sector workforce quality is challenging in sectors such as education where worker productivity is difficult to assess and manager incentives are muted by political and bureaucratic...
View ArticleTrade, Pollution and Mortality in China -- by Matilde Bombardini, Bingjing Li
Has the expansion in exports affected pollution and health outcomes across different prefectures in China in the two decades between 1990 and 2010? We exploit variation in the initial industrial...
View ArticleE-governance, Accountability, and Leakage in Public Programs: Experimental...
In collaboration with the Government of Bihar, India, we conducted a large-scale experiment to evaluate whether transparency in fiscal transfer systems can increase accountability and reduce corruption...
View ArticleIntertemporal Substitution in Health Care Demand: Evidence from the RAND...
Nonlinear cost-sharing in health insurance encourages intertemporal substitution be- cause patients can reduce their out-of-pocket costs by concentrating spending in years when they hit the deductible....
View ArticleThe Long Shadow of a Fiscal Expansion -- by Chong-En Bai, Chang-Tai Hsieh,...
In 2009 and 2010, China undertook a 4 trillion Yuan fiscal stimulus, roughly equivalent to 12 percent of annual GDP. The "fiscal" stimulus was largely financed by off-balance sheet companies (local...
View ArticleShould Central Banks Care About Fiscal Rules? -- by Eric M. Leeper
This essay aims to explain the nature of monetary and fiscal policy interactions and how those interactions could inform the fiscal rules that countries choose to follow. It makes two points: (1)...
View ArticleTaxing the Rich More: Preliminary Evidence from the 2013 Tax Increase -- by...
This paper provides preliminary evidence on behavioral responses to taxation around the 2013 tax increase that raised top marginal tax rates on capital income by about 9.5 points and on labor income by...
View ArticleThe Mortality and Medical Costs of Air Pollution: Evidence from Changes in...
We estimate the effect of acute air pollution exposure on mortality, life-years lost, and health care utilization among the US elderly. We address endogeneity and measurement error using a novel...
View ArticleApplying Asset Pricing Theory to Calibrate the Price of Climate Risk -- by...
Pricing greenhouse gas emissions is a risk management problem. It involves making trade-offs between consumption today and unknown and potentially catastrophic damages in the (distant) future. The...
View ArticlePublic Debt as Private Liquidity: Optimal Policy -- by George-Marios...
We study the Ramsey policy problem in an economy in which public debt contributes to the supply of assets that private agents can use as buffer stock and collateral, or as a vehicle of liquidity....
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