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Exchange Of The Year! SIX Swiss Exchange Wins "Exchange Of The...
The award ceremony for the Structured Products Europe Awards 2016 was held last night at "The Mayfair" in London. A delegation of SIX Swiss Exchange led by André Buck, Head Sales, accepted the...
View ArticleObjective-setting and communication of macroprudential policies
Macroprudential policy faces a range of challenges that stem from the difficulty to quantify its principal objective, financial stability, and from the absence of an established analytical paradigm to...
View ArticleSecurities Commission Malaysia Announces New Appointments
Securities Commission Malaysia (SC) today announced the appointment of Dato’ Gumuri Hussain as the Executive Chairman of Audit Oversight Board (AOB), effective 18 November 2016.read more...
View ArticleESMA Publishes MiFID II Q&AS On Transparency And Market Structure Topics
The European Securities and Markets Authority (ESMA) has published two Questions and Answers (Q&A) documents regarding implementation issues relating to market structures and transparency topics...
View ArticleACER Decides On The Electricity TSOs’ Proposal For Capacity Calculation...
Today ACER has issued a Decision on the electricity Transmission System Operators’ proposal for the determination of the Capacity Calculation Regions (CCRs Proposal) in accordance with Article 9(11) of...
View ArticleUBS MTF Market Holiday
This market notice is to inform you that UBS MTF will be closed on the following days during the Christmas period: Monday 26th December 2016 Monday 2nd January 2017 Â
View ArticleNew EU Banking Supervisory System: A Good Start But Important Issues Still...
The European Central Bank (ECB) succeeded in setting up and staffing the Single Supervisory Mechanism (SSM) within a narrow timeframe, according to a new report from the European Court of Auditors....
View ArticleTrade Liberalization and Mortality: Evidence from U.S. Counties -- by Justin...
We investigate the impact of a large economic shock on mortality. We find that counties more exposed to a plausibly exogenous trade liberalization exhibit higher rates of suicide and related causes of...
View ArticleExtending Industry Specialization through Cross-Border Acquisitions -- by...
We investigate the role of industry specialization in horizontal cross-border mergers and acquisitions. We find that acquirers from more specialized industries in a country are more likely to buy...
View ArticleTake the Short Route: Equilibrium Default and Debt Maturity -- by Mark...
We study the interactions between sovereign debt default and maturity choice in a setting with limited commitment for repayment as well as future debt issuances. Our main finding is that under a wide...
View ArticleThe Impact of Consumer Credit Access on Employment, Earnings and...
How does consumer credit access impact job flows, earnings, and entrepreneurship? To answer this question, we build a new administrative dataset which links individual employment and entrepreneur tax...
View ArticleDoes The Samaritan's Dilemma Matter? Evidence From U.S. Agriculture -- by...
The Samaritan's dilemma posits a downside to charity: recipients may rely on free aid instead of their own efforts. Anecdotally, the expectation of free assistance is thought to be important for...
View ArticlePegxit Pressure: Evidence from the Classical Gold Standard -- by Kris James...
We develop a simple model that highlights the costs and benefits of fixed exchange rates as they relate to trade, and show that negative export-price shocks reduce fiscal revenue and increase the...
View ArticleAn Analysis of the Labor Market for Uber's Driver-Partners in the United...
Uber, the ride-sharing company launched in 2010, has grown at an exponential rate. This paper provides the first comprehensive analysis of the labor market for Uber's driver-partners, based on both...
View ArticleMultilateral Trade Bargaining and Dominant Strategies -- by Kyle Bagwell,...
Motivated by GATT bargaining behavior and renegotiation rules, we construct a three-country, two-good general-equilibrium model of trade and examine multilateral tariff bargaining under the constraints...
View ArticleShifting College Majors in Response to Advanced Placement Exam Scores -- by...
Mapping continuous raw scores from millions of Advanced Placement examinations onto the 1 to 5 integer scoring scale, we apply a regression discontinuity design to understand how students' choice of...
View ArticleThe Impact of Emerging Market Competition on Innovation and Business Strategy...
How do firms in high-income countries adjust to emerging market competition? We estimate how a representative panel of Canadian firms adjusts innovation activities, business strategies, and exit in...
View ArticleMacro Risks and the Term Structure of Interest Rates -- by Geert Bekaert,...
We extract aggregate supply and aggregate demand shocks for the US economy from macroeconomic data on inflation, real GDP growth, core inflation and the unemployment gap. We first use unconditional...
View ArticlePseudo-wealth and Consumption Fluctuations -- by Martin Guzman, Joseph E....
This paper provides an explanation for situations in which the state variables describing the economy do not change, but aggregate consumption experiences significant changes. We present a theory of...
View ArticleThe Theory of Credit and Macro-economic Stability -- by Joseph E. Stiglitz
In the aftermath of the Great Recession, there is a growing consensus, even among central bank officials, concerning the limitations of monetary policy. This paper provides an explanation for the...
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