Saving and Dissaving with Hyperbolic Discounting -- by Dan Cao, Ivan Werning
Is the standard hyperbolic-discounting model capable of robust qualitative predictions for savings behavior? Despite results suggesting a negative answer, we provide a positive one. We give conditions...
View ArticleDemographics and FDI: Lessons from China's One-Child Policy -- by John B....
Lucas (1990) argues that the neoclassical adjustment process fails to explain the relative paucity of FDI inflows from rich to poor countries. In this paper we consider a natural experiment: using...
View ArticleEffects of Copyrights on Science - Evidence from the US Book Republication...
Copyrights for books, news, and other types of media are a critical mechanism to encourage creativity and innovation. Yet economic analyses continue to be rare, partly due to a lack of experimental...
View ArticleAI and International Trade -- by Avi Goldfarb, Daniel Trefler
This paper explores the international dimensions of the economics of artificial intelligence. Trade theory emphasizes the roles of scale, competition, and knowledge creation and knowledge diffusion as...
View ArticleArtificial Intelligence and Consumer Privacy -- by Ginger Zhe Jin
Thanks to big data, artificial intelligence (AI) has spurred exciting innovations. In the meantime, AI and big data are reshaping the risk in consumer privacy and data security. In this essay, I first...
View ArticleThe Anatomy of a Trade Collapse: The UK, 1929-33 -- by Alan de Bromhead, Alan...
A recent literature explores the nature and causes of the collapse in international trade during 2008 and 2009. The decline was particularly great for automobiles and industrial supplies; it occurred...
View ArticleN-S Trade with Weak Institutions -- by James E. Anderson
States with weak institutions (South) can lose from institutional response to trade with North. A Ricardian model of trade subject to predation characterizes the case. South labor earns equal returns...
View ArticleExchange Traded Funds 101 For Economists -- by Martin Lettau, Ananth Madhavan
Exchange-traded funds (ETFs) represent one of the most important financial innovations in decades. An ETF is an investment vehicle that trades intraday and seeks to replicate the performance of a...
View ArticleDo Management Interventions Last? Evidence from India -- by Nicholas Bloom,...
Beginning in 2008, we ran a randomized controlled trial that changed management practices in a set of Indian weaving firms (Bloom et al. 2013). In 2017 we revisited the plants and found three main...
View ArticleDo CCTs Improve Employment and Earnings in the Very Long-Term? Evidence from...
We assess long-term impacts of the Mexican conditional cash transfer (CCT) program on youth employment and earnings. We rely on the original random assignment into early and late treatment localities,...
View ArticleLongevity, Education, and Income: How Large is the Triangle? -- by Hoyt Bleakley
While health affects economic development and wellbeing through a variety of pathways, one commonly suggested mechanism is a "horizon" channel in which increased longevity induces additional education....
View ArticleWhat do we know about the effects of Austerity? -- by Alberto F. Alesina,...
This paper summarizes the results of a large recent literature on multi year fiscal plans for deficit reduction (austerity). The key results are that deficit reduction policies based upon spending cuts...
View ArticleAI as the next GPT: a Political-Economy Perspective -- by Manuel Trajtenberg
History suggests that dismal prophecies regarding the impact of great technological advances rarely come to pass. Yet, as many occupations will indeed vanish with the advent of AI as the new General...
View ArticleUnconventional Fiscal Policy -- by Francesco D'Acunto, Daniel Hoang, Michael...
Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time...
View ArticlePrediction, Judgment and Complexity -- by Ajay K. Agrawal, Joshua S. Gans,...
We interpret recent developments in the field of artificial intelligence (AI) as improvements in prediction technology. In this paper, we explore the consequences of improved prediction in...
View ArticleMarket Structure in Bitcoin Mining -- by June Ma, Joshua S. Gans, Rabee Tourky
We analyze the Bitcoin protocol for electronic peer-to-peer payments and the operations that support the "blockchain" that underpins it. It is shown that that protocol maps formally into a dynamic game...
View ArticleFinancial Constraints, Institutions, and Foreign Ownership -- by Ron Alquist,...
This paper examines how external finance dependence, financial development, and institutions influence brownfield foreign direct investment (FDI). We develop a model of cross-border acquisitions in...
View ArticleHigh-Priced Drugs in Medicare Part D: Diagnosis and Potential Prescription --...
Drug pricing in the U.S. is a persistently vexing policy problem. While there is agreement among many policy analysts that supra competitive prices are necessary to promote innovation; significant...
View ArticleIOHK | Symphony of the BlockchainIOHK | Symphony of the Blockchain
The Symphony of Blockchain is an interactive, visual and auditory exploration of Bitcoin, cryptocurrency and the blockchain. It is an ongoing research initiative with a singular aim: to help bring...
View ArticleWeekly Top 5 Papers – January 29, 2018
1. Do Alpha Males Deliver Alpha? Testosterone and Hedge Funds by Yan Lu (University of Central Florida-Department of Finance) and Melvyn Teo (Singapore Management University – Lee Kong Chian School...
View Article
