Economics and Finance: Recent submissions
Now showing items 181-200 of 371
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Semiparametric Quantile Models for Ascending Auctions with Asymmetric Bidders
The paper proposes a parsimonious and flexible semiparametric quantile regression speci- fication for asymmetric bidders within the independent private value framework. Asymmetry is parameterized using powers of a parent ... -
Quantile regression methods for first-price auctions
The paper proposes a quantile-regression inference framework for first-price auctions with symmetric risk-neutral bidders under the independent private-value paradigm. It is first shown that a private-value quantile ... -
Global connectivity between commodity prices and national stock markets: A time‐varying MIDAS analysis
(2021-02-01)This is the pre-peer reviewed version of the following article: Enilov, M, Fazio, G, Ghoshray, A. Global connectivity between commodity prices and national stock markets: A time‐varying MIDAS analysis. Int J Fin Econ. 2021; ... -
Lift the Ban? Initial Employment Restrictions and Refugee Labour Market Outcomes
(Oxford University Press, 2021-05-29) -
Foundations of ambiguity models under symmetry: -MEU and smooth ambiguity
The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the axiomatic foundations of these two models are not completely understood. We provide axiomatic foundations ... -
What Shapes the Quality and Behavior of Government Officials? Institutional Variation in Selection and Retention Methods
In representative democracies, a variety of rules are employed to select and retain public officials to reflect public preferences over policies. We discuss the literature on selection and retention rules for government ... -
Inequality of Fear and Self-Quarantine: Is There a Trade-off between GDP and Public Health?
We construct a quantitative model of an economy hit by a pandemic. People choose occupations and make work-from-home decisions to maximize income and minimize their fear of infection. Occupations differ by wage, infection ... -
MoNK: Mortgages in a New-Keynesian Model
There has been much interest recently in the role of household long-term, mortgage, debt in the transmission of monetary policy. This paper offers a tractable framework that integrates the long-term debt channel with the ... -
Informal Labor and the Efficiency Cost of Social Programs: Evidence from Unemployment Insurance in Brazil
It is widely believed that the presence of a large informal sector increases the efficiency cost of social programs in developing countries. We evaluate such claims for the case of unemployment insurance (UI) by combining ... -
Job Displacement Insurance and (the Lack of) Consumption-Smoothing
We study the spending profile of workers who experience both a positive transitory income shock (lump-sum severance pay) and a negative permanent income shock (layoff). Using de-identified expenditure and employment data ... -
Network Structure and Performance
We develop a theory that links individuals’ network structure to their productivity and earnings. While a higher degree leads to better access to information, more clustering leads to higher peer pressure. Both information ... -
Optimal Pension Plan Default Policies when Employees are Biased
What is the optimal default contribution rate or default asset allocation in pension plans? Could active decision (i.e., not setting a default and forcing employees to make a decision) be optimal? These questions are studied ... -
Estimation of time-varying covariance matrices for large datasets
(Cambridge University Press, 2021-02-08) -
Risk Attitudes and Household Migration Decisions
This paper analyses the relation between risk attitudes and household migration decisions. Using data of rural-urban migrants in China and their family members left behind, we obtain three key findings: (i) conditional on ...