Educational Homogamy and Assortative Mating Have Not Increased -- by Rania...
Some economists have argued that assortative mating between men and women has increased over the last several decades, thereby contributing to increased family income inequality. Sociologists have...
View ArticleHigh-Skilled Migration and Agglomeration -- by Sari Pekkala Kerr, William...
This paper reviews recent research regarding high-skilled migration. We adopt a data-driven perspective, bringing together and describing several ongoing research streams that range from the...
View ArticleAre Fuel Economy Standards Regressive? -- by Lucas W. Davis, Christopher R....
Despite widespread agreement that a carbon tax would be more efficient, many countries use fuel economy standards to reduce transportation-related carbon dioxide emissions. We pair a simple model of...
View ArticleWhy Does Capital No Longer Flow More to the Industries with the Best Growth...
With functionally efficient capital markets, we expect capital to flow more to the industries with the best growth opportunities. As a result, these industries should invest more and see their assets...
View ArticleDisrupting Education? Experimental Evidence on Technology-Aided Instruction...
We present experimental evidence on the impact of a technology-aided after-school instruction program on learning outcomes in middle school grades in urban India, using a lottery that provided students...
View ArticleAutomated Economic Reasoning with Quantifier Elimination -- by Casey B. Mulligan
Many theorems in economics can be proven (and hypotheses shown to be false) with "quantifier elimination." Results from real algebraic geometry such as Tarski's quantifier elimination theorem and...
View ArticleCoal Smoke and the Costs of the Industrial Revolution -- by W. Walker Hanlon
While the Industrial Revolution brought economic growth, there is a long debate in economics over the costs of the pollution externalities that accompanied early industrialization. To help settle this...
View ArticleThe Impact of Negative Interest Rates on Optimal Capital Injections....
In the present paper, we investigate the optimal capital injection behaviour of an insurance company if the interest rate is allowed to become negative. The surplus process of the considered insurance...
View ArticlePanel dataset description for econometric analysis of the ISP-OTT...
The latest technological advancements in the telecommunications domain (e.g., widespread adoption of mobile devices, introduction of 5G wireless communications, etc.) have brought new stakeholders into...
View ArticleQuantifying Retail Agglomeration using Diverse Spatial Data....
Newly available data on the spatial distribution of retail activities in cities makes it possible to build models formalized at the level of the single retailer. Current models tackle consumer location...
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Did the founding of the Federal Reserve affect the vulnerability of the...
As a result of legal restrictions on branch banking, an extensive interbank system developed in the United States during the 19th century to facilitate interregional payments and flows of liquidity and...
View ArticleBanking industry dynamics and size-dependent capital regulation
This paper presents a general equilibrium model with a dynamic banking sector to characterize optimal size-dependent bank capital regulation (CR). Bank leverage choices are subject to the risk-return...
View ArticleIOSCO identifies the risks to retail investors of OTC leveraged products
IOSCO/MR/31/2016read more...
View ArticleIOSCO consults on order routing incentives in ongoing effort to protect...
IOSCO/MR/32/2016read more...
View ArticleIOSCO monitors growing use of automated advice tools to protect investors
IOSCO/MR/33/2016read more...
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Why Design Thinkers Need Grit
Lili Ermezei, Creative Strategy Director at Wonder Agency, makes the case in this terrific blog post that, "Being gritty is essential for successful design projects." I agree wholeheartedly. Some...
View ArticleLeverage and Uncertainty. (arXiv:1612.07194v1 [q-fin.RM])
Risk and uncertainty will always be a matter of experience, luck, skills, and modelling. Leverage is another concept, which is critical for the investor decisions and results. Adaptive skills and...
View ArticleConditional loss probabilities for systems of economic agents sharing...
We analyze systems of agents sharing light-tailed risky claims issued by different financial objects. Assuming exponentially distributed claims, we obtain that both agents' and system's losses follow...
View ArticleAnalytic solution to variance optimization with no short-selling....
A large portfolio of independent returns is optimized under the variance risk measure with a ban on short positions. The no-short selling constraint acts as an asymmetric $\ell_1$ regularizer, setting...
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