Does Organizational Form Drive Competition? Evidence from Coffee Retailing --...
This article examines patterns of entry and exit in a relatively homogeneous product market to investigate the impact of entry on incumbent firms and market structure. In particular, we are interested...
View ArticleMeasuring Institutional Investors' Skill from Their Investments in Private...
Using a large sample of institutional investors' private equity investments in venture and buyout funds, we estimate the extent to which investors' skill affects returns from private equity...
View ArticleHeterogeneous Frictional Costs Across Industries in Cross-border Mergers and...
While there has been significant research to explore the determinants (and frictions) of foreign direct investment (FDI), past literature primarily focuses on country-wide FDI patterns with little...
View ArticleAttention Variation and Welfare: Theory and Evidence from a Tax Salience...
This paper shows that accounting for variation in mistakes can be crucial for welfare analysis. Focusing on consumer underreaction to not-fully-salient sales taxes, we show theoretically that the...
View ArticleGeographic Diversification and Banks' Funding Costs -- by Ross Levine, Chen...
We assess the impact of the geographic expansion of bank assets on the cost of banks' interest-bearing liabilities. Existing research suggests that expansion can both intensify agency problems that...
View ArticleHuman Capital Investments and Expectations about Career and Family -- by...
This paper studies how individuals "believe" human capital investments will affect their future career and family life. We conducted a survey of high-ability currently enrolled college students and...
View ArticleAre Publicly Insured Children Less Likely to be Admitted to Hospital than the...
There is continuing controversy about the extent to which publicly insured children are treated differently than privately insured children, and whether differences in treatment matter. We show that on...
View ArticleLong-Term Orientation and Educational Performance -- by David Figlio, Paola...
We use remarkable population-level administrative education and birth records from Florida to study the role of Long-Term Orientation on the educational attainment of immigrant students living in the...
View ArticleEmployment Effects of the ACA Medicaid Expansions -- by Pauline Leung,...
We examine whether the recent expansions in Medicaid from the Affordable Care Act reduced "employment lock" among childless adults who were previously ineligible for public coverage. We compare...
View ArticleEstimating Currency Misalignment Using the Penn Effect: It's Not as Simple As...
We investigate the strength of the Penn effect in the most recent version of the Penn World Tables (PWTs). We find that the earlier findings of a Penn effect are confirmed, but that there is some...
View ArticleThe More We Die, The More We Sell? A Simple Test of the Home-Market Effect --...
The home-market effect, first hypothesized by Linder (1961) and later formalized by Krugman (1980), is the idea that countries with larger demand for some products at home tend to have larger sales of...
View ArticleThe Impact of Removing Tax Preferences for U.S. Oil and Natural Gas...
This paper presents a novel methodology for estimating impacts on domestic supply of oil and natural gas arising from changes in the tax treatment of oil and gas production. It corrects a downward bias...
View ArticleEstimating Path Dependence in Energy Transitions -- by Kyle C. Meng
Addressing climate change requires transitioning away from coal-based energy. Recent structural change models demonstrate that temporary interventions could induce permanent fuel switching when...
View ArticleFrom Chronic Inflation to Chronic Deflation: Focusing on Expectations and...
The paper discusses policy relevant models, going from (1) chronic inflation in the 20th century after WWII, to (2) credit sudden stop episodes that got exacerbated in Developed Market economies after...
View ArticleThe Persistent Power of Behavioral Change: Long-Run Impacts of Temporary...
I use a field experiment in rural Kenya to study how temporary incentives to save impact long-run economic outcomes. Study participants randomly selected to receive large temporary interest rates on an...
View ArticleThe I Theory of Money -- by Markus K. Brunnermeier, Yuliy Sannikov
A theory of money needs a proper place for financial intermediaries. Intermediaries diversify risks and create inside money. In downturns, micro-prudent intermediaries shrink their lending activity,...
View ArticleMastering the One-on-One Meeting
Julia Austin, Chief Technology Officer at DigitalOcean and advisor to many startups in the Boston area, has written a terrific blog post about how to conduct effective one-on-one meetings with your...
View ArticleCFTC Orders California Resident Irina Feldman And Her Companies Cindium Inc....
The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Respondents Irina Feldman, Cindium Inc. (Cindium), and Einstein Exchange...
View ArticleMoscow Exchange: FX Market Trading Schedule In September 2016
The instruments USDRUB_TOD, USD_TODTOM, EURUSD_TOD and EURUSDTDTM will not be traded on 5 September 2016 as this is a non-business day in the US.read more...
View ArticleSEC: Apollo Charged With Disclosure And Supervisory Failures
The Securities and Exchange Commission today announced that four private equity fund advisers affiliated with Apollo Global Management have agreed to a $52.7 million settlement for misleading fund...
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