Estimating Cost Savings from Early Cancer Diagnosis. (arXiv:1709.01484v1...
We estimate treatment cost-savings from early cancer diagnosis. For breast, lung, prostate and colorectal cancers and melanoma, which account for more than 50% of new incidences projected in 2017, we...
View ArticleBacktesting Expected Shortfall: is it really that hard?. (arXiv:1709.01337v1...
In this short note we propose a new backtesting framework for Expected Shortfall that could be used by the regulator. Instead of looking at the estimated capital reserve and the realized cash-flow...
View ArticleA Scaling Limit for Limit Order Books Driven by Hawkes Processes....
In this paper we derive a scaling limit for an infinite dimensional limit order book model driven by Hawkes random measures. The dynamics of the incoming order flow is allowed to depend on the current...
View ArticleTesting if the market microstructure noise is a function of the limit order...
In this paper, we build tests for the presence of error in a model where the market microstructure noise is a known parametric function of the limit order book. The tests compare two novel and distinct...
View ArticleStoryshowing: How to Stand Out from the Storytellers
Storyshowing is an instruction manual for making connections. Storytelling has been shown to be one of the most effective methods of persuasion, motivation and inspiration, yet the disconnect remains —...
View ArticleMark Carney to chair two key BIS central bank groups
The Board of Directors of the Bank for International Settlements (BIS) has appointed Mark Carney, Governor of the Bank of England, as Chair of the Global Economy Meeting (GEM) and the Economic...
View ArticleDeutsche Bank CEO: A 'big number' of our staff will be replaced by technology
Deutsche Bank CEO: A 'big number' of our staff will be replaced by technology https://t.co/KUJaAS3LfD — moneyscience (@moneyscience) September 11, 2017
View ArticlePicking the Right Job for You Based on an Interesting Interview Question
Christa Quarles, CEO of OpenTable, described her favorite job interview question recently in an interview with CNBC. She likes to ask candidates: "What part of this role do you love and you can't stop...
View ArticleShould Robots be Taxed? -- by Joao Guerreiro, Sergio Rebelo, Pedro Teles
We use a model of automation to show that with the current U.S. tax system, a fall in automation costs could lead to a massive rise in income inequality. This inequality can be reduced by raising...
View ArticleWho Owns the Wealth in Tax Havens? Macro Evidence and Implications for Global...
Drawing on newly published macroeconomic statistics, this paper estimates the amount of household wealth owned by each country in offshore tax havens. The equivalent of 10% of world GDP is held in tax...
View ArticleEnjoying the Quiet Life: Corporate Decision-Making by Entrenched Managers --...
In this study, we empirically test "quiet life hypothesis," which predicts that managers who are subject to weak monitoring from the shareholders avoid making difficult decisions such as risky...
View ArticleThe Effects of Graduation Requirements on Risky Health Behaviors of High...
Previous studies have shown that years of formal schooling attained affects health behaviors, but little is known about how the stringency of academic programs affects such behaviors, especially among...
View ArticleHow do Credit Supply Shocks Affect the Real Economy? Evidence from the United...
Does an expansion in credit supply affect the economy by increasing productive capacity, or by boosting demand? We design a test to uncover which of the two channels is more dominant, and we apply it...
View ArticleMarket Power, Production (Mis)Allocation and OPEC -- by John Asker, Allan...
This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency occurs through more production being allocated to higher-cost units of production,...
View ArticleThe Origins of Financial Development: How the African Slave Trade Continues...
We assess how the African slave trade--which had enduring effects on social cohesion--continues to influence financial systems. After showing that the intensity with which people were enslaved and...
View ArticleUnderstanding Precautionary Cash at Home and Abroad -- by Michael W....
Has the need for precautionary savings driven the dramatic increase in U.S. corporate cash? We show that the run-up in cash is concentrated in foreign subsidiaries of multinational corporations....
View ArticleFinTech Adoption Across Generations: Financial Fitness in the Information Age...
This paper analyzes how better access to financial information via new technology changes use of consumer credit and affects financial fitness. We exploit the introduction of a smartphone application...
View ArticleLong-Term Care in Latin America and the Caribbean? Theory and Policy...
This paper discusses theoretical and practical issues related to long-term care (LTC) services in Latin America. Demand for these services will rise as the region undergoes a swift demographic...
View Article