Land Misallocation and Productivity -- by Diego Restuccia, Raul...
Using detailed household-level data from Malawi on physical quantities of outputs and inputs in agricultural production, we measure total factor productivity (TFP) for farms controlling for land...
View ArticleRents, Technical Change, and Risk Premia: Accounting for Secular Trends in...
The secular decline in safe interest rates since the early 1980s has been the subject of considerable attention. In this short paper, we argue that it is important to consider the evolution of safe...
View ArticleRe-examining the Middle-Income Trap Hypothesis (MITH): What to Reject and...
Do middle-income countries face difficult challenges producing consistent growth? Using transition matrix analysis, we can easily reject any unconditional notion of a "middle-income trap" in the data....
View ArticleImmigration Restrictions as Active Labor Market Policy: Evidence from the...
An important class of active labor market policy has received little rigorous impact evaluation: immigration barriers intended to improve the terms of employment for domestic workers by deliberately...
View ArticleOn the Global Financial Market Integration "Swoosh" and the...
We propose a simple measure of de facto financial market integration based on a factor model of monthly equity returns, which can be computed back to the first era of financial globalization for 17...
View ArticleWhen No Bad Deed Goes Punished: Relational Contracting in Ghana versus the UK...
In relational contracting the threat of punishment in future periods provides an incentive not to cheat. But to what extent do people actually carry out this punishment? We compare relational...
View ArticleKeepin' '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 ArticleThe World After GDP: Politics, Business and Society in the Post Growth Era
GDP is much more than a simple statistic. It has become the overarching benchmark of success and a powerful ordering principle at the heart of the global economy. But the convergence of major economic,...
View ArticleCMT Level III 2017: The Integration of Technical Analysis
Everything you need to pass Level III of the CMT Programread more...
View ArticleCMT Level II 2017: Theory and Analysis
Everything you need to pass Level II of the CMT Programread more...
View ArticleCMT Level I 2017: An Introduction to Technical Analysis
Everything you need to pass Level I of the CMT Programread more...
View ArticleThe World After GDP: Politics, Business and Society in the Post Growth Era
GDP is much more than a simple statistic. It has become the overarching benchmark of success and a powerful ordering principle at the heart of the global economy. But the convergence of major economic,...
View ArticleAn Ivy League professor who spent 4 months working in a South Bronx...
An Ivy League professor who spent 4 months working in a South Bronx check-cashing store says we're getting it all wrong: "The three common reasons customers cited for using a check casher over a bank:...
View ArticleEndowment Sweepstakes: How Tiny Houghton College Beat Harvard - The New York...
Endowment Sweepstakes: How Tiny Houghton College Beat Harvard - The New York Times: "Compare the results with those of Houghton College, a liberal arts institution affiliated with the Wesleyan Church...
View ArticleWeekly Top 5 Papers – February 13th 2017
1. Extreme Protest Tactics Reduce Popular Support for Social Movements by Matthew Feinberg (University of Toronto – Organizational Behavior and Human Resource Management) and Robb Willer (Stanford...
View ArticleTrading Lightly: Cross-Impact and Optimal Portfolio Execution....
We model the impact costs of a strategy that trades a basket of correlated instruments, by extending to the multivariate case the linear propagator model previously used for single instruments. Our...
View ArticleShort Maturity Asian Options for the CEV Model. (arXiv:1702.03382v1 [q-fin.PR])
We present a rigorous study of the short maturity asymptotics for Asian options with continuous-time averaging, under the assumption that the underlying asset follows the Constant Elasticity of...
View ArticleA Theory of Market Efficiency. (arXiv:1702.03290v1 [q-fin.EC])
We introduce a mathematical theory called market connectivity that gives concrete ways to both measure the efficiency of markets and find inefficiencies in large markets. The theory leads to new...
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