Memory, Attention, and Choice -- by Pedro Bordalo, Nicola Gennaioli, Andrei...
We present a theory in which the choice set cues a consumer to recall a norm, and surprise relative to the norm shapes his attention and choice. We model memory based on Kahana (2012), where past...
View ArticleCorporate Culture: Evidence from the Field -- by John R. Graham, Campbell R....
Does corporate culture matter? Can differences in corporate culture explain why similar firms diverge with one succeeding and the other failing? To answer these questions, we use a novel survey and...
View ArticleMyopia and Discounting -- by Xavier Gabaix, David Laibson
We assume that perfectly patient agents estimate the value of future events by generating noisy, unbiased simulations and combining those signals with priors to form posteriors. These posterior...
View ArticleReevaluating Agricultural Productivity Gaps with Longitudinal Microdata -- by...
Recent research has pointed to large gaps in labor productivity between the agricultural and non-agricultural sectors in low-income countries, as well as between workers in rural and urban areas. Most...
View ArticleBanking on Trust: How Debit Cards Enable the Poor to Save More -- by Pierre...
Trust is an essential element of economic transactions, but trust in financial institutions is low, especially among the poor. Debit cards provide not only easier access to savings, but also a...
View ArticleGlobalization Policies and Israel's Brain Drain -- by Assaf Razin
The paper links Israel's brain drain to skill-based immigration policies, prevailing in the advanced economies.
View ArticleVertical and Horizontal Redistributions from a Carbon Tax and Rebate -- by...
Because electricity is a higher fraction of spending for those with low income, carbon taxes are believed to be regressive. Many argue, however, that their revenues can be used to offset the...
View ArticleFirm Selection and Corporate Cash Holdings -- by Juliane Begenau, Berardino...
Among stock market entrants, more firms over time are R&D-intensive with initially lower profitability but higher growth potential. This sample-selection effect determines the secular trend in U.S....
View ArticleCEO Behavior and Firm Performance -- by Oriana Bandiera, Stephen Hansen,...
We measure the behavior of 1,114 CEOs in Brazil, France, Germany, India, UK and US using a new methodology that combines (i) data on every activity the CEOs undertake during one workweek and (ii) a...
View ArticleTraining Contracts, Employee Turnover, and the Returns from Firm-sponsored...
Firms may be reluctant to provide general training if workers can quit and use their gained skills elsewhere. "Training contracts" that impose a penalty for premature quitting can help alleviate this...
View ArticleInternational Inflation Spillovers Through Input Linkages -- by Raphael A....
We document that observed international input-output linkages contribute substantially to synchronizing producer price inflation (PPI) across countries. Using a multi-country, industry-level dataset...
View ArticleFinancial Cycles with Heterogeneous Intermediaries -- by Nuno Coimbra, Helene...
This paper develops a dynamic macroeconomic model with heterogeneous financial intermediaries and endogenous entry. It features time-varying endogenous macroeconomic risk that arises from the...
View ArticleA Head-to-Head Comparison of Augmented Wealth in Germany and the United...
We provide levels of, compositions of, and inequalities in household augmented wealth - defined as the sum of net worth and pension wealth - for two countries: the United States and Germany. Pension...
View ArticleGreat Interview Question!
On Friday, I moderated a panel discussion at Bryant University's 20th Annual Women's Summit. One audience member asked the panelists to describe their favorite interview question. Gerardine Ferlins,...
View ArticleReadout From A Treasury Spokesperson On Secretary Mnuchin’s Meetings...
In his meetings on March 18, 2017, in Baden Baden, Germany, with People's Bank of China Governor Zhou Xiaochuan and Chinese Minister of Finance Xiao Jie, U.S. Treasury Secretary Steven T. Mnuchin...
View ArticleESMA Sees High Market And Valuation Risk Amid Substantial Political And...
The European Securities and Markets Authority (ESMA)’s latest report on Trends, Risks and Vulnerabilities No. 1, 2017 (TRV) identifies political and policy uncertainty – such as potential repercussions...
View ArticleBorsa İstanbul Announces Constituent Changes To The BIST Equity Indices For...
All changes will be applied after the close of business on Friday, March 31, 2017 and will be effective on Monday, April 3, 2017.read more...
View ArticleDIFC Authority Has Announced For Public Consultation A Proposed New Companies...
The Dubai International Financial Centre Authority (“DIFC Authority”) wishes to enact legislation to enhance the current DIFC Companies Law regime, in order to bring it in line with international best...
View ArticleWhat Everyone Needs to Know about Tax: An Introduction to the UK Tax System
You are paying much more in tax than you think you areread more...
View ArticleWiley 11th Hour Guide for 2017 Level II CFA Exam
Final Review Guide for Level II CFA ExamWiley's 11th Hour Final Review Guide for 2017 Level II CFA Exam compacts all fifty-two readings tested on the 2017 CFA exam into one portable volume. Organized...
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