EEX Registers First Trade In EUA Options
The European Energy Exchange (EEX) has registered its first trade in EUA options. The trade was registered in the December 2016 expiry period with a volume of 250,000 EUAs. The trade was conducted by...
View ArticleThe Interest Rate Effect on Private Saving: Alternative Perspectives -- by...
Using an uneven panel of 135 countries from 1995 to 2014, we investigate the link between interest rates and private saving, and focus on whether the interest rate effect is dominated by the income...
View ArticleSustaining Impacts When Transfers End: Women Leaders, Aspirations, and...
Numerous evaluations show that conditional cash transfer programs change households' investments in their young children, but there are many open questions about how such changes can be sustained after...
View ArticleAmbiguity and the Tradeoff Theory of Capital Structure -- by Yehuda Izhakian,...
We examine the importance of ambiguity, or Knightian uncertainty, in the capital structure decision. We develop a static tradeoff theory model in which agents are both risk averse and ambiguity averse....
View ArticleThe Surprising Instability of Export Specializations -- by Diego Daruich,...
We study the instability of hyper-specialization of exports. We have two main findings. (1) Specializations are surprisingly unstable: Export ranks are not persistent, and new top products and...
View ArticleMacroprudential Policy: Promise and Challenges -- by Enrique G. Mendoza
Macroprudential policy holds the promise of becoming a powerful tool for preventing financial crises. Financial amplification in response to domestic shocks or global spillovers and pecuniary...
View ArticleIt's Not the Thought that Counts: A Field Experiment on Gift Exchange and...
One of the most important outstanding questions in fundraising is whether donor premiums, or gifts to prospective donors, are effective in increasing donations. Donors may be motivated by reciprocity,...
View ArticleIs The Monetarist Arithmetic Unpleasant? -- by Martin Uribe
The unpleasant monetarist arithmetic of Sargent and Wallace (1981) states that in a fiscally dominant regime tighter money now can cause higher inflation in the future. In spite of the qualifier...
View ArticleJapan's Ultimately Unaccursed Natural Resources-Financed Industrialization --...
Japan's successful industrialization in the late 19th and early 20th century largely exhausted its then abundant natural resources. Rather than exemplifying rapid development in the absence of natural...
View ArticleThe Welfare Cost of Uncertainty in Policy Outcomes -- by Edward Schlee, V....
This paper proposes a simple index of the welfare significance of uncertainty in the public goods resulting as policy outcomes. Our measure is the ex ante compensation an individual would require to...
View ArticleIs it the "How" or the "When" that Matters in Fiscal...
Using data from 16 OECD countries from 1981 to 2014 we find that the composition of fiscal adjustments is much more important than the state of the cycle in determining their effects on output....
View ArticleDistributional Effects of Air Pollution from Electric Vehicle Adoption -- by...
We examine the distributional effects of changes in local air pollution from driving electric vehicles in the United States. We employ an econometric model to estimate power plant emissions and an...
View ArticleGeographical Distribution of Emergency Department Closures and Consequences...
We develop a conceptual framework and empirically investigate how a permanent emergency department (ED) closure affects patients with acute myocardial infarction (AMI). We first document that large...
View ArticleTransforming Cities: Does Urbanization Promote Democratic Change? -- by...
Could urbanization lead to more democracy and better government for the mega-cities of the developing world? This paper reviews three channels through which urbanization may generate political change....
View ArticleFear of Fracking? The Impact of the Shale Gas Exploration on House Prices in...
Shale gas has grown to become a major new source of energy in countries around the globe. While its importance for energy supply is well recognized, there has also been public concern over potential...
View ArticleDo Good Reports Mean Higher Prices? The Impact of Hospital Compare Ratings on...
Previous research found that the initiation of Hospital Compare (HC) quality reporting had little impact on patient outcomes. However little is known about its impact on hospital prices, which may be...
View ArticleDFM Celebrates the 45th National Day Of The United Arab Emirates
Dubai Financial Market (DFM) hosted a special ceremony on Tuesday, 29 November 2016 to celebrate the 45th National Day of the United Arab Emirates, with the participation of a large number of DFM...
View ArticleJapan's Financial Services Agency: The Third Meeting Of The Task Force On...
The Task Force on Fair Disclosure Rule of the Financial System Council will hold its third meeting on December 2nd, 2016 as follows.read more...
View ArticleHong Kong's Securities And Futures Commission: Mandatory Online Submission Of...
The Securities and Futures Commission (SFC) announced today that with effect from 1 February 2017, all individual applicants and licensees will be required to submit their licensing applications,...
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