Purchasing Power Disparity before 1914 -- by Peter H. Lindert
Economic historians' Divergence debates since 2000 have asked a different question from that asked by Angus Maddison. The issue has become "when did countries' contemporaneous purchasing powers...
View ArticleCharging Ahead: Prepaid Electricity Metering in South Africa -- by B. Kelsey...
The standard approach to recovering the cost of electricity provision is to bill customers monthly for past consumption. If unable to pay, customers face disconnection, the utility loses revenue, and...
View ArticleThe History of the Cross Section of Stock Returns -- by Juhani T. Linnainmaa,...
Using data spanning the 20th century, we show that most accounting-based return anomalies are spurious. When examined out-of-sample by moving either backward or forward in time, anomalies' average...
View ArticleActivism, Strategic Trading, and Liquidity -- by Kerry Back, Pierre...
We analyze dynamic trading in an anonymous market by an activist investor who can expend costly effort to affect firm value. We obtain the equilibrium in closed form for a general activism technology,...
View ArticleBounds on Treatment Effects in Regression Discontinuity Designs under...
A key assumption in regression discontinuity analysis is that units cannot affect the value of their running variable through strategic behavior, or manipulation, in a way that leads to sorting on...
View ArticleRelationship Lending and the Great Depression: Measurement and New...
The Great Depression remains ground zero for studying the non-monetary effects of financial crises. Despite the abundant scholarship on the period, lack of disaggregated data on lending activities has...
View ArticleClimate Risks and Market Efficiency -- by Harrison Hong, Frank Weikai Li,...
We investigate whether stock markets efficiently price risks brought on or exacerbated by climate change. We focus on drought, the most damaging natural disaster for crops and food-company cash flows....
View ArticleThe Entrepreneur: The Economic Function of Free Enterprise
This book presents the economic theories with regards to the entrepreneur of yesterday and those of more recent years, on which issue research has been developing exponentially since the last third of...
View ArticleThe Hermeneutic Side of Responsible Research and Innovation
The book investigates the meaning of RRI if little or no valid knowledge about consequences of innovation and technology is available. It proposes a hermeneutical turn to investigate narratives about...
View ArticleThe Cost of Not Speaking Up
David Maxfield has written a good article for Harvard Business Review titled, "How a Culture of Silence Eats Away at Your Company." He argues that people often say that they would speak up if they had...
View ArticleEvaluating the Performance of ANN Prediction System at Shanghai Stock Market...
This research evaluates the performance of an Artificial Neural Network based prediction system that was employed on the Shanghai Stock Exchange for the period 21-Sep-2016 to 11-Oct-2016. It is a...
View ArticleThe distribution dynamics of Carbon Dioxide Emission intensity across Chinese...
This paper examines the distribution dynamics of carbon dioxide (CO2) emission intensity across 30 Chinese provinces using a weighted distribution dynamics approach. The results show that CO2 emission...
View ArticleHow do Chinese cities grow? A distribution dynamics approach....
This paper examines the dynamic behavior of city size using a distribution dynamics approach with Chinese city data for the period 1984-2010. Instead of convergence, divergence or paralleled growth,...
View ArticleThe demand for road transport in China: imposing theoretical regularity and...
Road transport sector is found to be one of the major emitters, and responsible for serious air pollution and huge pubic health losses. One important parameter for determining the consequences of...
View ArticleChina building energy consumption: definitions and measures from an...
There is an increasing awareness of the significance of Chinese building energy consumption(BEC). However, something worth discussing is that estimate the building energy consumption adopting the...
View ArticleAre Chinese transport policies effective? A new perspective from direct...
The air pollution has become a serious challenge in China. Emissions from motor vehicles have been found as one main source of air pollution. Although the Chinese government has taken numerous policies...
View ArticleOrder statistics of horse racing and the randomly broken stick....
We find a remarkable agreement between the statistics of a randomly divided interval and the observed statistical patterns and distributions found in horse racing betting markets. We compare the...
View ArticleOptimality of hybrid continuous and periodic barrier strategies in the dual...
Avanzi et al. (2016) recently studied the optimal dividend problem where dividends can be paid both periodically and continuously at different transaction costs. In the Brownian model with Poissonian...
View ArticleA quantitative case for leaning against the wind
Should a monetary authority lean against the build-up of financial imbalances? We study this policy question in an environment in which there are recurring cycles of financial imbalances that develop...
View ArticleBasel Committee completes reviews of all its members' risk-based capital...
Press release about the Basel Committee completing reviews of all its members' risk-based capital frameworks (9 December 2016).
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