The Lerner Symmetry Theorem: Generalizations and Qualifications -- by Arnaud...
The Lerner Symmetry Theorem (Lerner, 1936) establishes the equivalence between import tariffs and export taxes in a simple neoclassical economy with two countries, two final goods, and no trade costs....
View ArticleThe Cross-Border Spillover Effects of Recreational Marijuana Legalization --...
We examine the spillover effects of recreational marijuana legalization (RML) in Colorado and Washington on neighboring states. We find that RML causes a sharp increase in marijuana possession arrests...
View ArticleStraight Talkers and Vague Talkers: The Effects of Managerial Style in...
Managers conducting earnings conference calls display distinctive styles in their word choice. Some CEOs and CFOs are straight talkers. Others, by contrast, are vague talkers. Vague talkers routinely...
View ArticleMonetary Policy through Production Networks: Evidence from the Stock Market...
Monetary policy shocks have a large impact on stock returns in narrow windows around press releases by the Federal Reserve. We use spatial autoregressions to decompose the overall effect of monetary...
View ArticleLags, Costs, and Shocks: An Equilibrium Model of the Oil Industry -- by...
We use a new micro data set to compile some key facts about the oil market and estimate a structural industry equilibrium model that is consistent with these facts. We find that demand and supply...
View ArticleThe Causes and Costs of Misallocation -- by Diego Restuccia, Richard Rogerson
Why do living standards differ so much across countries? A consensus in the development literature is that differences in productivity are a dominant source of these differences. But what accounts for...
View ArticleRacial Bias in Bail Decisions -- by David Arnold, Will Dobbie, Crystal S. Yang
This paper develops a new test for identifying racial bias in the context of bail decisions - a high-stakes setting with large disparities between white and black defendants. We motivate our analysis...
View ArticleInnovation-Led Transitions in Energy Supply -- by Derek Lemoine
I reconcile a benchmark model of directed technical change with the historical experience of energy transitions by allowing for a non-unitary elasticity of substitution between machines and the other...
View ArticleImperfect Financial Markets and Shareholder Incentives in Partial and General...
We analyze the firm-level and aggregate consequences of equity market imperfections in the form of noisy information aggregation for corporate risk-taking and investment. Market imperfections cause...
View ArticleSurvey Measurement of Probabilistic Macroeconomic Expectations: Progress and...
Economists commonly suppose that persons have probabilistic expectations for uncertain events, yet empirical research measuring expectations was long rare. The inhibition against collection of...
View ArticleHandle with Care: The Local Air Pollution Costs of Coal Storage. -- by...
Burning coal is known to have environmental costs; this paper quantities the local environmental costs of transporting and storing coal at U.S. power plants for the sample period 2002-2012. We first...
View ArticleAustralian Squatters, Convicts, and Capitalists: Dividing Up a Fast-Growing...
Compared with its nineteenth century competitors, Australian GDP per worker grew exceptionally fast, about twice that of the US and three times that of Britain. This paper asks whether the fast growth...
View ArticleFrom Extreme to Mainstream: How Social Norms Unravel -- by Leonardo Bursztyn,...
Social norms are typically thought to be persistent and long-lasting, sometimes surviving through growth, recessions, and regime changes. In some cases, however, they can quickly change. This paper...
View ArticleStatus Goods: Experimental Evidence from Platinum Credit Cards -- by Leonardo...
This paper provides novel field-experimental evidence on status goods. We work with an Indonesian bank that markets platinum credit cards to high-income customers. In a first experiment, we show that...
View ArticleIs Preventive Care Worth the Cost? Evidence from Mandatory Checkups in Japan...
Using unique individual-level panel data, we investigate whether preventive medical care triggered by health checkups is worth the cost. We exploit the fact that biomarkers just below and above a...
View ArticleGender Differences in the Benefits of an Influential Early Childhood Program...
This paper estimates gender differences in life-cycle impacts across multiple domains of an influential enriched early childhood program targeted toward disadvantaged children that was evaluated by the...
View ArticlePolicy Uncertainty In Japan -- by Elif C. Arbatli, Steven J. Davis, Arata...
We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach of Baker, Bloom and Davis (2016). Each index reflects the frequency of newspaper...
View ArticleAl Mawared Amman Stock Exchange Weekly Report, 22 May 2017
Jordanian stocks rise by 0.27% WoW, snapping a 6-week losing streakread more...
View ArticleFourth Annual FTSE Russell Global Institutional Smart Beta Survey Marks Peak...
FTSE Russell, a leading global index and data provider, today confirmed a new high in global smart beta index adoption and continued strong interest in smart sustainability and multi-factor indexes...
View ArticleEuropean Commission: Statement By Michel Barnier At The Press Conference...
Merci Louis.read more...
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