Post Keynesian Dynamic Stochastic General Equilibrium Theory -- by Roger E.A....
This paper explains the connection between ideas developed in my recent books and papers and those of economists who self-identify as Post Keynesians. My own work is both neoclassical and 'old...
View ArticleConcentrating on the Fall of the Labor Share -- by David Autor, David Dorn,...
The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a "superstar firm" model where industries are increasingly...
View ArticleDirect and Spillover Effects of Middle School Vaccination Requirements -- by...
We study the direct and spillover effects of state requirements that middle school youths obtain a tetanus, diphtheria, and pertussis (Tdap) booster prior to middle school entry. These mandates...
View ArticleThe Competitive Effects of Transmission Infrastructure in the Indian...
India, seeking to reduce electricity shortages, set up a new power market, in which transmission constraints sharply limit trade between regions. I use confidential bidding data to estimate the costs...
View ArticleThe Business of Business is Business: Why (Some) Firms Should Provide Public...
This note links the commodity bundling literature with the literature on the private provision of public goods. We discuss the potential profitability of bundling strategies for both private firms and...
View ArticlePrice-Linked Subsidies and Health Insurance Markups -- by Sonia P. Jaffe,...
Subsidies in many health insurance programs depend on prices set by competing insurers - as prices rise, so do subsidies. We study the economics of these "price-linked" subsidies compared to "fixed"...
View ArticleFamily Economics Writ Large -- by Jeremy Greenwood, Nezih Guner, Guillaume...
Powerful currents have reshaped the structure of families over the last century. There has been (i) a dramatic drop in fertility and greater parental investment in children; (ii) a rise in married...
View ArticleFirm Performance and the Volatility of Worker Earnings -- by Chinhui Juhn,...
Using linked employer-employee data for the U.S., we examine whether shocks to firm revenues are transmitted to the earnings of continuing employees. While full insurance is rejected, the elasticity of...
View ArticleFirm Heterogeneity in Consumption Baskets: Evidence from Home and Store...
A growing literature has emphasized the role of firm heterogeneity within sectors in accounting for nominal income inequality. This paper explores the implications for household price indices across...
View ArticleProvider Incentives and Healthcare Costs: Evidence from Long-Term Care...
We study the design of provider incentives in the post-acute care setting - a high-stakes but under-studied segment of the healthcare system. We focus on long-term care hospitals (LTCHs) and the large...
View ArticleFire in the Belly? Employee Motives and Innovative Performance in Startups...
We examine whether startups attract employees with different pecuniary and non-pecuniary motives than small or large established firms. We then explore whether such differences in employee motives lead...
View ArticleThe Distortionary Effects of Incentives in Government: Evidence from China's...
We study a 2004 program designed to motivate Chinese bureaucrats to reduce accidental deaths. Each province received a set of 'death ceilings' that, if exceeded, would impede government officials'...
View ArticleHow do Quasi-Random Option Grants Affect CEO Risk-Taking? -- by Kelly Shue,...
We examine how an increase in stock option grants affects CEO risk-taking. The overall net effect of option grants is theoretically ambiguous for risk-averse CEOs. To overcome the endogeneity of option...
View ArticleHealthcare Spending and Utilization in Public and Private Medicare -- by...
We compare healthcare spending in public and private Medicare using newly available claims data from Medicare Advantage (MA) insurers. MA insurer revenues are 30 percent higher than their healthcare...
View ArticleStatisticians fear Trump White House will manipulate figures to fit narrative
Statisticians fear Trump White House will manipulate figures to fit narrative https://t.co/A682imQ3Rs â Catherine Rampell (@crampell) January 30, 2017
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January 2017 Data Update 7: Profitability, Excess Returns and Governance
If asked to describe a successful business, most people will tell you that it is one that makes money and that is not an unreasonable starting point, but it is not a good ending point. For a business...
View ArticlePredicting Auction Price of Vehicle License Plate with Deep Recurrent Neural...
In Chinese societies where superstition is of paramount importance, vehicle license plates with desirable numbers can fetch for very high prices in auctions. Unlike auctions of other valuable items,...
View ArticleAsset liquidation under drift uncertainty and regime-switching volatility....
Optimal liquidation of an asset with unknown constant drift and stochastic regime-switching volatility is studied. The uncertainty about the drift is represented by an arbitrary probability...
View ArticleDecision structure of risky choice. (arXiv:1701.08567v1 [q-fin.EC])
As we know, there is a controversy about the decision making under risk between economists and psychologists. We discuss to build a unified theory of risky choice, which would explain both of...
View ArticleComputing stable numerical solutions for multidimensional American option...
The matter of the stability for multi-asset American option pricing problems is a present remaining challenge. In this paper a general transformation of variables allows to remove cross derivative...
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