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Central Banks: Evolution and Innovation in Historical Perspective -- by...
Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of...
View ArticlePremium Levels and Demand Response in Health Insurance: Relative Thinking and...
In health care systems with a competitive health insurance market, governments or other sponsors (e.g. employers) often subsidize premiums to encourage enrolment. These subsidies are typically...
View ArticleEast Asian Financial and Economic Development -- by Randall Morck, Bernard Yeung
Japan, an isolated, backward country in the 1860s, industrialized rapidly to become a major industrial power by the 1930s. South Korea, among the world's poorest countries in the 1960s, joined the...
View ArticleEmployment Hysteresis from the Great Recession -- by Danny Yagan
This paper uses U.S. local areas as a laboratory to test whether the Great Recession depressed 2015 employment. In full-population longitudinal data, I find that exposure to a 1-percentage-point-larger...
View ArticleThe Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local...
Small business lending by the four largest banks fell sharply relative to others in 2008 and remained depressed through 2014. We explore the dynamic adjustment process following this credit supply...
View ArticleReturns to Pharmaceutical Innovation in the Market for Oral Chemotherapy in...
We estimated the average returns, in terms of patient survival, to the marginal innovations in oral chemotherapy market induced by Part D expansion of oral chemotherapy coverage for elderly individuals...
View ArticleInternational Credit Supply Shocks -- by Ambrogio Cesa-Bianchi, Andrea...
House prices and exchange rates can potentially amplify the expansionary effect of capital inflows by inflating the value of collateral. We first set up a model of collateralized borrowing in domestic...
View ArticleComparing 2SLS vs 2SRI for Binary Outcomes and Binary Exposures -- by Anirban...
This study uses Monte Carlo simulations to examine the ability of the two-stage least-squares (2SLS) estimator and two-stage residual inclusion (2SRI) estimators with varying forms of residuals to...
View ArticleLongitudinal Determinants of End-of-Life Wealth Inequality -- by James M....
This paper examines inequality in end-of-life wealth and the factors that contribute to individuals reaching this life stage with few financial resources. It analyzes repeated cross-sections of the...
View ArticleFarewell Address of CFTC Commissioner Sharon Y. Bowen at the Institute of...
Farewell Address of CFTC Commissioner Sharon Y. Bowen at the Institute of International Economic Law at the Georgetown University Law Center
View ArticleCFTC Orders Citibank, N.A. and London-based Citigroup Global Markets Limited...
The U.S. Commodity Futures Trading Commission (CFTC) issued an Order filing and simultaneously settling charges against Citibank, N.A. and Citigroup Global Markets Limited, for failing to report Legal...
View ArticleWeekly Top 5 Papers – September 25th, 2017
1. The 7 Reasons Most Machine Learning Funds Fail (Presentation Slides) by Marcos Lopez de Prado (Guggenheim Partners, LLC)read more...
View ArticleCFTC’s Division of Market Oversight Extends Existing Relief and...
The U.S. Commodity Futures Trading Commissionâs (CFTC) Division of Market Oversight (DMO) today issued a no-action letter (CFTC Staff Letter 17-45) that extends current relief and provides additional...
View ArticleRussian Government Seeks Cryptocurrency Researchers, Will Pay 2.5 Million...
The Russian State Duma is holding a tender for a detailed study on cryptocurrency, blockchain technology & ICOs https://t.co/FNuNfvDjNP â Financial Technologyâ¦
View ArticleThis Cable Will Boggle Your Mind With the Highest Data Capacity Ever to Cross...
The highest-capacity subsea cable to ever cross the Atlantic, can shuttle a bewildering 160 Tb of data per second. https://t.co/A0AZ8VjPWB â Financialâ¦
View ArticleWhat Is “Fintech”?
What is âfintechâ? Well, thereâs the literal and easy answer: An industry that integrates finance and technology. But then thereâs this question, What do we really mean by âfintechâ? It has...
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