Federal Reserve Board Announces It Will Seek $1.2 Million Fine And Permanent...
The Federal Reserve Board on Monday announced that it will seek a $1.2 million fine and a permanent ban on employment in the banking industry in an enforcement action against a foreign exchange (FX)...
View ArticleMIAX Options - September 1, 2016 Fee Changes
Effective September 1, 2016, pending SEC approval, the MIAX Options Fee Schedule will be amended.read more...
View ArticleInterview with Phillip Barlag, Author of The Leadership Genius of Julius Caesar
1. Why did you choose to write this book? Early in the book, I discuss a story where Caesar was able to stop a mutiny of his army - which occurred while he was away from camp - by returning, standing...
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How to Build Wealth with Real Estate Investment Trusts
 Using easy-to-understand language and simple examples to illustrate industry-specific concepts, The Intelligent REIT Investorenables even novice investors to quickly gain fluency in REIT industry...
View ArticleEstimating the Value of Public Insurance Using Complementary Private...
The welfare associated with public insurance is often difficult to quantify. Relative to private insurance, a fundamental difficulty is that public insurance is typically compulsory, so the demand for...
View ArticleDirect-to-Consumer Advertising and Online Search -- by Matthew Chesnes,...
Beginning in 1997, the Food and Drug Administration (FDA) allowed television advertisements to make major statements about a prescription drug, while referring to detailed drug information on the...
View ArticleThe Lifecycle of the 47% -- by Don Fullerton, Nirupama S. Rao
We assess the concentration and duration of zero tax liabilities and of transfer receipts, using data for households with ten to forty years of observations from the Panel Survey of Income Dynamics. We...
View ArticleThe Derivation of Discount Rates with an Augmented Measure of Income. -- by...
Most developed economies invest in public goods such as national defense, education, infrastructure, and the environment. Expenditures on public projects entail a diversion of funds away from...
View ArticleDo Minimum Wage Increases Influence Worker Health? -- by Brady P. Horn,...
This study investigates whether minimum wage increases in the United States affect an important non-market outcome: worker health. To study this question, we use data on lesser-skilled workers from the...
View ArticleRelative Tax Rates, Proximity and Cigarette Tax Noncompliance: Evidence from...
We analyze data about cigarette tax compliance from the first national scale littered cigarette packs collection. We code each pack based on whether an appropriate tax had been paid at the location...
View ArticleThe Complexity of Liquidity: The Extraordinary Case of Sovereign Bonds -- by...
It is well-documented that government bonds with almost identical cash flows can trade at different prices. The explanation is that due to higher liquidity the most recently issued bond tends to trade...
View ArticleIdentifying and Estimating Neighborhood Effects -- by Bryan S. Graham
Residential segregation by race and income are enduring features of urban America. Understanding the effects of residential segregation on educational attainment, labor market outcomes, criminal...
View ArticleFinancial Aid, Debt Management, and Socioeconomic Outcomes: Post-College...
Prior research has demonstrated that financial aid can influence both college enrollments and completions, but less is known about its post-college consequences. Even for students whose attainment is...
View ArticleFrom Science to Technology: The Value of Knowledge From Different Energy...
Using an original data set of both scientific articles and patents pertaining to alternative energy technologies, this paper provides new evidence on the flows of knowledge between university, private...
View ArticleMonetary Policy and Asset Valuation: Evidence From a Markov-Switching cay --...
This paper presents evidence of infrequent shifts, or "breaks," in the mean of the consumption-wealth variable cay_{t}, an asset market valuation ratio driven by fluctuations in stock market wealth...
View ArticleA Time to Make Laws and a Time to Fundraise? On the Relation between Salaries...
Paying higher salaries is often believed to enhance worker effort, leading workers to work harder to avoid getting fired. However, workers may also respond to higher salaries by focusing on tasks that...
View ArticleThe Political Economy of Debt and Entitlements -- by Laurent Bouton,...
This paper presents a dynamic political-economic model of total government obligations. Its focus is on the interplay between debt and entitlements. In our model, both are tools by which temporarily...
View ArticleImputation in U.S. Manufacturing Data and Its Implications for Productivity...
In the U.S. Census Bureau's 2002 and 2007 Censuses of Manufactures 79% and 73% of observations respectively have imputed data for at least one variable used to compute total factor productivity. The...
View ArticleLegal Access to Alcohol and Criminality -- by Benjamin Hansen, Glen R. Waddell
Previous research has found strong evidence that legal access to alcohol is associated with sizable increases in criminality. We revisit this relationship using the census of judicial records on...
View ArticleIsrael and the 1990-2015 Global Developments: Riding with the Global Flows...
The global economy has been buffeted by several unprecedented economic events during the past 35 years. We survey the impact of these events on Israel's development, institutions, and economic...
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