Mergers and Marginal Costs: New Evidence on Hospital Buyer Power -- by Stuart...
We estimate the effects of horizontal mergers on marginal cost efficiencies - an ubiquitous merger justification - using data containing supply purchase orders from a large sample of US hospitals...
View ArticleUnderemployment in the US and Europe -- by David N.F. Bell, David G....
Large numbers of part-time workers around the world, both those who choose to be part-time and those who are there involuntarily and would prefer a full-time job report they want more hours....
View ArticleCharity Begins at Home (and at School): Effects of Religion-Based...
Religions often preach preferential treatment of fellow believers. This paper examines whether one's religious status (secular or religious) leads one to discriminate against people with a different...
View ArticlePer Capita Income, Consumption Patterns, and CO2 Emissions -- by Justin...
This paper investigates the role of income-driven differences in consumption patterns in explaining and projecting energy demand and CO2 emissions. We develop and estimate a general-equilibrium model...
View ArticleFrictions in a Competitive, Regulated Market: Evidence from Taxis -- by...
This paper presents a dynamic general equilibrium model of a taxi market. The model is estimated using data from New York City yellow cabs. Two salient features by which most taxi markets deviate from...
View ArticleDo Parents Know Best? The Short and Long-Run Effects of Attending The Schools...
Recent studies document that, in many cases, sought after schools do not improve student test scores. Three explanations are that (i) existing studies identify local average treatment effects that do...
View ArticleEvaluating the Economic Cost of Coastal Flooding -- by Klaus Desmet, Robert...
Sea-level rise and ensuing permanent coastal inundation will cause spatial shifts in population and economic activity over the next 200 years. Using a highly spatially disaggregated, dynamic model of...
View ArticleThe Welfare State besides Globalization Forces -- by Assaf Razin, Efraim Sadka
In this paper we review of literature and offer historical, empirical and analytical explanation for the interactions between the welfare state and globalization driving forces. Globalization - a...
View ArticleDoes Machine Translation Affect International Trade? Evidence from a Large...
Artificial intelligence (AI) is surpassing human performance in a growing number of domains. However, there is limited evidence of its economic effects. Using data from a digital platform, we study a...
View ArticleCertification, Reputation and Entry: An Empirical Analysis -- by Xiang Hui,...
Markets with asymmetric information will often employ third-party certification labels to distinguish between higher and lower quality transactions, yet little is known about the effects of...
View ArticleMultinational Profit Shifting and Measures throughout Economic Accounts -- by...
Profit shifting to low-tax countries imposes challenges for the treatment of multinational enterprises in economic accounts. Using adjustments for profit shifting calculated in Guvenen et al. (2017)...
View ArticleQuadratic Games -- by Nicolas S. Lambert, Giorgio Martini, Michael Ostrovsky
We study general quadratic games with multidimensional actions, stochastic payoff interactions, and rich information structures. We first consider games with arbitrary finite information structures. In...
View ArticleSupplemental Security Income and Child Outcomes: Evidence from Birth Weight...
Low birth weight infants born to mothers with low educational attainment have a double hurdle to overcome in the production of human capital. We examine whether income transfers in the form of...
View ArticleUK’s Financial Conduct Authority Commences Criminal Prosecution Against...
The Financial Conduct Authority (FCA) has commenced a criminal prosecution against Mark Barry Starling (date of birth: 23/01/1961) of Farnham, Surrey, for three offences relating to unauthorised...
View ArticleHKEX: OTC Clear Welcomes New Clearing Member After Volume Surges Nearly 500...
The volume of OTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), has surged nearly 500 per cent this year while it welcomes China CITIC Bank...
View ArticleDaily: ANOTHER ETF approval deadline this week ? / Why BAKKT is the real...
The Proshares Bitcoin Approval is due for SEC approval this thursday. As all the traders turn to this particular ETF, we discuss what's involved, included the fact it doesn't actually hold any...
View ArticleIFDP 2018-1234: International Spillovers of Monetary Policy: Conventional...
Stephanie E. Curcuru, Steven B. Kamin, Canlin Li, and Marius Rodriguez | This paper evaluates the popular view that quantitative easing exerts greater international spillovers than conventional...
View ArticleIFDP 2018-1235: Why Has the Stock Market Risen So Much Since the US...
Olivier Blanchard, Christopher G. Collins, Mohammad R. Jahan-Parvar, Thomas Pellet, and Beth Anne Wilson | This paper looks at the evolution of U.S. stock prices from the time of the Presidential...
View ArticleIFDP 2018-1236: Asset Price Learning and Optimal Monetary Policy
Colin C. Caines and Fabian Winkler | We characterize optimal monetary policy when agents are learning about endogenous asset prices. Boundedly rational expectations induce inefficient equilibrium asset...
View ArticleThe SEC Is Weighing a Bitcoin Futures ETF – Here's What That Means
The distinction between a physical and futures-backed ETF is worth unpacking given that one may or may not have a better shot at SEC approval.
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