Keepin' 'em Down on the Farm: Migration and Strategic Investment in...
In rural areas of most developing countries, intergenerational coresidence is both widespread and an important determinant of well-being for the elderly. Most parents want at least one adult child to...
View ArticleAssessing Managerial Ability: Implications for Corporate Governance -- by...
A manager's current and potential future employers are continually assessing her or his ability. Such assessment is a crucial component of corporate governance and this chapter provides an overview of...
View ArticleWho Becomes a Politician? -- by Ernesto Dal Bo, Frederico Finan, Olle Folke,...
Can a democracy attract competent leaders, while attaining broad representation? Economic models suggest that free-riding incentives and lower opportunity costs give the less competent a comparative...
View ArticleGlobal Inequality Dynamics: New Findings from WID.world -- by Facundo...
This paper presents new findings on global inequality dynamics from the World Wealth and Income Database (WID.world), with particular emphasis on the contrast between the trends observed in the United...
View ArticleMeasuring Loan Outcomes at Postsecondary Institutions: Cohort Repayment Rates...
Low- and middle-income college borrowers often struggle with economic opportunity and loan burdens after leaving school. However, some institutions, including some non-selective schools, do a good job...
View ArticleDecomposing Medical-Care Expenditure Growth -- by Abe Dunn, Eli B. Liebman,...
Medical-care expenditures have been rising rapidly, accounting for over 17 percent of GDP in 2012. In this study, we assess the sources of the rising medical-care expenditures in the commercial sector....
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January 2017 Data Update 9: Dividends and Buybacks
If you are from my generation, I am sure that you remember Rodney Dangerfield, whose comedy routine was built around the fact that "he got no respect". This post is about dividends and cash return, the...
View ArticleExistence of a Radner equilibrium in a model with transaction costs....
We prove the existence of a Radner equilibrium in a model with proportional transaction costs on an infinite time horizon. Two agents receive exogenous, unspanned income and choose between consumption...
View ArticleDemonetization and Its Impact on Employment in India. (arXiv:1702.01686v1...
On November 08, the sudden announcement to demonetization the high denomination currency notes sent tremors all across the country. Given the timing, and socioeconomic and political repercussions of...
View ArticlePerfect hedging under endogenous permanent market impacts....
We model a nonlinear price curve quoted in a market as the utility indifference curve of a representative liquidity supplier. As the utility function we adopt a g-expectation. In contrast to the...
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Yield = Poison (3)
Photo Credit: Brent Moore || Watch the piggies run after scarce yield!read more...
View ArticleGlobal impact of US and euro area unconventional monetary policies: a comparison
The paper analyses and compares the domestic and cross-border effects of US and euro area unconventional monetary policy measures on 24 major advanced and emerging economies, based on an estimated...
View ArticleIOSCO report shows progress made in implementation of Benchmark Principles
IOSCO/MR/01/2017read more...
View ArticleHarvardâs $1.2 Billion Haul Erased by Investing Loss, Payout
Harvardâs $1.2 Billion in Donations Wiped by Losses https://t.co/1bMcXwFcTa â Yves Hilpisch (@dyjh) February 7, 2017
View ArticleConditional Davis Pricing. (arXiv:1702.02087v1 [q-fin.MF])
We introduce the notion of a conditional Davis price and study its properties. Our ultimate goal is to use utility theory to price non-replicable contingent claims in the case when the investor's...
View ArticleThe Installation Costs of a Satellite and Space Shuttle Launch Complex as a...
From the 1940's to the present, space explorations, which is a highly important topic for the world and human beings, penetrate into many areas from the communication to the national security as well...
View ArticleExistence, uniqueness, and stability of optimal portfolios of eligible...
We study the existence of portfolios of traded assets making a given financial institution pass some pre-specified (internal or external) regulatory test. In particular, we are interested in the...
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