Optimal Taxation and R&D Policies -- by Ufuk Akcigit, Douglas Hanley,...
We study the optimal design of R&D policies and corporate taxation when the outputs of innovation are not appropriable in the absence of intellectual property rights policies and there are...
View ArticleThe Effects of Computers on Children's Social Development and School...
Concerns over the perceived negative impacts of computers on social development among children are prevalent but largely uninformed by plausibly causal evidence. We provide the first test of this...
View ArticleHabits and Leverage -- by Tano Santos, Pietro Veronesi
Many stylized facts of leverage, trading, and asset prices follow from a frictionless general equilibrium model that features agents' heterogeneity in endowments and habit preferences. Our model...
View ArticleEstimating the Productivity of Community Colleges in Paving the Road to...
The distinct mission and open-access nature of community colleges and the diverse goals of the students they serve make it difficult to assess differences in quality across community college campuses....
View ArticleStimulating Housing Markets -- by David Berger, Nicholas Turner, Eric Zwick
This paper studies temporary policy incentives designed to address capital overhang by inducing asset demand from buyers in the private market. Using variation across local geographies in ex ante...
View ArticleEconomic Transformation in Africa from the Bottom Up: Evidence from Tanzania...
At roughly 4% per annum, labor productivity in Tanzania has grown more rapidly over the past 12 years than at any other time in recent history. Employment growth has also been strong keeping up with...
View ArticleWeekly Top 5 Papers â December 12, 2016
1. How Do Venture Capitalists Make Decisions? by Paul Gompers (Harvard Business School â Finance Unit) and Will Gornall (University of British Columbia (UBC) â Division of Finance) and Steven...
View ArticleLeading Dispersed Teams
Eric McNulty, director of research at the National Preparedness Leadership Initiative, has written a blog post for Strategy + Business that addresses how to lead dispersed teams effectively. McNulty...
View ArticleFractal Optimization of Market Neutral Portfolio. (arXiv:1612.03698v1...
A fractal approach to the long-short portfolio optimization is proposed. The algorithmic system based on the composition of market-neutral spreads into a single entity has been considered. The core of...
View ArticleSensation Seeking, Sports Cars, and Hedge Funds by Yan Lu, Sugata Ray, Melvyn...
Sensation Seeking, Sports Cars, and Hedge Funds - https://t.co/TvHJehnluM â moneyscience (@moneyscience) December 13, 2016
View ArticleThe hierarchical generalized linear model and the bootstrap estimator of the...
This paper presents the hierarchical generalized linear model (HGLM) for loss reserving in a non-life insurance company. Because in this case the error of prediction is expressed by a complex...
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Plumbers and Visionaries by Peter Norman Selected as the Yearâs Most...
Plumbers and Visionaries by Peter Norman Selected as the Year’s Most Popular Financial Books in China Read More...
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Why Design Thinkers Need Grit
Lili Ermezei, Creative Strategy Director at Wonder Agency, makes the case in this terrific blog post that, "Being gritty is essential for successful design projects." I agree wholeheartedly. Some...
View ArticleLeverage and Uncertainty. (arXiv:1612.07194v1 [q-fin.RM])
Risk and uncertainty will always be a matter of experience, luck, skills, and modelling. Leverage is another concept, which is critical for the investor decisions and results. Adaptive skills and...
View ArticleConditional loss probabilities for systems of economic agents sharing...
We analyze systems of agents sharing light-tailed risky claims issued by different financial objects. Assuming exponentially distributed claims, we obtain that both agents' and system's losses follow...
View ArticleAnalytic solution to variance optimization with no short-selling....
A large portfolio of independent returns is optimized under the variance risk measure with a ban on short positions. The no-short selling constraint acts as an asymmetric $\ell_1$ regularizer, setting...
View ArticlePricing Derivatives in Hermite Markets. (arXiv:1612.07016v1 [q-fin.MF])
We introduce Hermite fractional financial markets, where market uncertainties are described by multidimensional Hermite motions. Hermite markets include as particular cases financial markets driven by...
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LME Clear and LME announce the appointment of James Proudlock as Deputy Chief...
LME Clear and the London Metal Exchange (LME) are pleased to announce the appointment of James Proudlock as Deputy Chief Executive for LME Clear. James will join in April 2017 and he will report to the...
View ArticleRethinking How You Set Your Goals (and form New Year's Resolutions)
Duke's Dorie Clark has some good advice in her HBR blog post regarding goal setting strategies. Clark first cites some interesting research on the ineffectiveness of to-do lists:Indeed, one indication...
View ArticleWeekly Top 5 Papers â December 19, 2016
1. Sensation Seeking, Sports Cars, and Hedge Funds by Stephen Brown (New York University (NYU) – Leonard N. Stern School of Business) and Yan Lu (University of Central Florida-Department of Finance)...
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