International Tax Reforms with Flexible Prices -- by Assaf Razin, Efraim Sadka
The growing spread of globalization creates a genuine need for international tax reforms. In this we establish the neutrality of border-tax adjustments of the income tax; the welfare dominance of...
View ArticleDo School Spending Cuts Matter? Evidence from the Great Recession -- by C....
Audits of public school budgets routinely find evidence of waste. Also, recent evidence finds that when school budgets are strained, public schools can employ cost-saving measures with no ill-effect on...
View ArticleThe Introduction of Tasers and Police Use of Force: Evidence from the Chicago...
In March 2010, the Chicago Police Department changed its Taser policy, issuing the weapons to patrol officers instead of largely restricting their use to sergeants. We used that policy change to obtain...
View ArticleBureaucratic Competence and Procurement Outcomes -- by Francesco Decarolis,...
To what extent does a more competent public workforce contribute to better economic outcomes? We analyze this question in the context of the US federal procurement by combining data on office-level...
View ArticleStatistical Discrimination and Duration Dependence in the Job Finding Rate --...
This paper models a frictional labor market where employers endogenously discriminate against the long term unemployed. The estimated model replicates recent experimental evidence which documents that...
View ArticleMisallocation Measures: The Distortion That Ate the Residual -- by John...
A large literature on misallocation and productivity has arisen in recent years, with Hsieh and Klenow (2009; hereafter HK) as its standard empirical framework. The framework's usefulness and...
View ArticleDinner Table Human Capital and Entrepreneurship -- by Hans K. Hvide, Paul Oyer
We document three new facts about entrepreneurship. First, a majority of male entrepreneurs start a firm in the same or a closely related industry as their fathers' industry of employment. Second, this...
View ArticleMatch Quality, Search, and the Internet Market for Used Books -- by Glenn...
This paper examines the effect of the Internet on markets in which match-quality is important, including an analysis of the market for used books. A model in which sellers of unusual objects wait for...
View ArticleArtificial Intelligence, Automation and Work -- by Daron Acemoglu, Pascual...
We summarize a framework for the study of the implications of automation and AI on the demand for labor, wages, and employment. Our task-based framework emphasizes the displacement effect that...
View ArticleTriffin: dilemma or myth? -- by Michael D. Bordo, Robert N. McCauley
Triffin gained enormous influence by reviving the interwar story that gold scarcity threatened deflation. In particular, he held that central banks needed to accumulate claims on the United States to...
View ArticleValue for Money? Community Targeting in Vote-Buying and Politician...
Community targeting of vote payments -- defined as the saturation of entire neighborhoods with cash prior to elections -- is widespread in the developing world. In this paper, we utilize laboratory...
View ArticleThe Welfare Effects of Encouraging Rural-Urban Migration -- by David Lagakos,...
This paper studies the welfare effects of encouraging rural-urban migration in the developing world. To do so, we build a dynamic incomplete-markets model of migration in which heterogenous agents face...
View ArticleThe Intergenerational Effects of Parental Incarceration -- by Will Dobbie,...
We estimate the causal effect of parental incarceration on children's medium-run outcomes using administrative data from Sweden. Our empirical strategy exploits exogenous variation in parental...
View ArticleThe Mechanics of Securitization: A Practical Guide - General Banking &...
The Mechanics of Securitization: A Practical Guide @wiley_finance https://t.co/S3cXFJM0qT â moneyscience (@moneyscience) January 15, 2018
View ArticleWeekly Top 5 Papers â January 15, 2018
1. The Games They Will Play: Tax Games, Roadblocks, and Glitches Under the New Legislation by Reuven S. Avi-Yonah (University of Michigan Law School), Lily L. Batchelder (New York University...
View ArticleEvolutionary dynamics of the cryptocurrency market. (arXiv:1705.05334v3...
The cryptocurrency market surpassed the barrier of \$100 billion market capitalization in June 2017, after months of steady growth. Despite its increasing relevance in the financial world, however, a...
View ArticleUrn model for products' shares in international trade. (arXiv:1801.04910v1...
International trade fluxes evolve as countries revise their portfolios of trade products towards economic development. Accordingly products' shares in international trade vary with time, reflecting the...
View ArticleDemographic Modeling Via 3-dimensional Markov Chains. (arXiv:1801.04841v1...
This article presents a new model for demographic simulation which can be used to forecast and estimate the number of people in pension funds (contributors and retirees) as well as workers in a public...
View ArticleIrreversible investment with fixed adjustment costs: a stochastic impulse...
We consider an optimal stochastic impulse control problem over an infinite time horizon motivated by a model of irreversible investment choices with fixed adjustment costs. By employing techniques of...
View ArticleFTSE Mondo Visione Exchanges Index Hits New Record High
The FTSE Mondo Visione Exchanges Index on Friday established a new all-time high closing at 50,316.17, up from Wednesday’s all-time high of 50,177.
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