Mark Carney to chair two key BIS central bank groups
The Board of Directors of the Bank for International Settlements (BIS) has appointed Mark Carney, Governor of the Bank of England, as Chair of the Global Economy Meeting (GEM) and the Economic...
View ArticleDeutsche Bank CEO: A 'big number' of our staff will be replaced by technology
Deutsche Bank CEO: A 'big number' of our staff will be replaced by technology https://t.co/KUJaAS3LfD — moneyscience (@moneyscience) September 11, 2017
View ArticlePicking the Right Job for You Based on an Interesting Interview Question
Christa Quarles, CEO of OpenTable, described her favorite job interview question recently in an interview with CNBC. She likes to ask candidates: "What part of this role do you love and you can't stop...
View ArticleShould Robots be Taxed? -- by Joao Guerreiro, Sergio Rebelo, Pedro Teles
We use a model of automation to show that with the current U.S. tax system, a fall in automation costs could lead to a massive rise in income inequality. This inequality can be reduced by raising...
View ArticleWho Owns the Wealth in Tax Havens? Macro Evidence and Implications for Global...
Drawing on newly published macroeconomic statistics, this paper estimates the amount of household wealth owned by each country in offshore tax havens. The equivalent of 10% of world GDP is held in tax...
View ArticleEnjoying the Quiet Life: Corporate Decision-Making by Entrenched Managers --...
In this study, we empirically test "quiet life hypothesis," which predicts that managers who are subject to weak monitoring from the shareholders avoid making difficult decisions such as risky...
View ArticleThe Effects of Graduation Requirements on Risky Health Behaviors of High...
Previous studies have shown that years of formal schooling attained affects health behaviors, but little is known about how the stringency of academic programs affects such behaviors, especially among...
View ArticleHow do Credit Supply Shocks Affect the Real Economy? Evidence from the United...
Does an expansion in credit supply affect the economy by increasing productive capacity, or by boosting demand? We design a test to uncover which of the two channels is more dominant, and we apply it...
View ArticleMarket Power, Production (Mis)Allocation and OPEC -- by John Asker, Allan...
This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency occurs through more production being allocated to higher-cost units of production,...
View ArticleThe Origins of Financial Development: How the African Slave Trade Continues...
We assess how the African slave trade--which had enduring effects on social cohesion--continues to influence financial systems. After showing that the intensity with which people were enslaved and...
View ArticleUnderstanding Precautionary Cash at Home and Abroad -- by Michael W....
Has the need for precautionary savings driven the dramatic increase in U.S. corporate cash? We show that the run-up in cash is concentrated in foreign subsidiaries of multinational corporations....
View ArticleFinTech Adoption Across Generations: Financial Fitness in the Information Age...
This paper analyzes how better access to financial information via new technology changes use of consumer credit and affects financial fitness. We exploit the introduction of a smartphone application...
View ArticleLong-Term Care in Latin America and the Caribbean? Theory and Policy...
This paper discusses theoretical and practical issues related to long-term care (LTC) services in Latin America. Demand for these services will rise as the region undergoes a swift demographic...
View ArticleUncertainty Shocks as Second-Moment News Shocks -- by David Berger, Ian...
We provide evidence on the relationship between aggregate uncertainty and the macroeconomy. Identifying uncertainty shocks using methods from the news shocks literature, the analysis finds that...
View ArticleWhere Modern Macroeconomics Went Wrong -- by Joseph E. Stiglitz
This paper provides a critique of the DSGE models that have come to dominate macroeconomics during the past quarter-century. It argues that at the heart of the failure were the wrong microfoundations,...
View ArticleStructural Transformation, Deep Downturns, and Government Policy -- by Joseph...
Most recessions are a result of some shock to the economic system, typically amplified by financial accelerators, and leading to large balance sheet effects of households and firms, which result in the...
View ArticleCan Financial Incentives Reduce the Baby Gap? Evidence from a Reform in...
To assess whether earnings-dependent maternity leave positively impacts fertility and narrows the baby gap between high educated (high earning) and low educated (low earning) women, I exploit a major...
View ArticleHigh-Dosage Tutoring and Reading Achievement: Evidence from New York City --...
This study examines the impact on student achievement of high-dosage reading tutoring for middle school students in New York City Public Schools, using a school-level randomized field experiment....
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