Phase-type Approximation of the Gerber-Shiu Function. (arXiv:1701.02798v1...
The Gerber-Shiu function provides a way of measuring the risk of an insurance company. It is given by the expected value of a function that depends on the ruin time, the deficit at ruin, and the...
View ArticleOrganizational Culture and Leadership, 5th Edition
The book that defined the field, updated and expanded for today's organizationsread more...
View ArticlePledgeability, Industry Liquidity, and Financing Cycles -- by Douglas W....
Why are downturns following prolonged episodes of high valuations of firms so severe and long? Why do firms promise high external payments when they anticipate high valuations, and underperform...
View ArticleEffects of Maternal Work Incentives on Youth Crime -- by Hope Corman, Dhaval...
This study exploits differences in the implementation of welfare reform across states and over time to identify causal effects of maternal work incentives, and by inference employment, on youth arrests...
View ArticleImperfect Markets versus Imperfect Regulation in U.S. Electricity Generation...
This paper measures changes in electricity generation costs caused by the introduction of market mechanisms to determine output decisions in service areas that were previously using...
View ArticleRelated Investing: Corporate Ownership and Capital Mobilization during Early...
Scholars engage in extensive debate about the role of families and corporations in economic growth. Some propose that personal ties provide a mechanism for overcoming such transactions costs as...
View ArticleThe Economic Consequences of Family Policies: Lessons from a Century of...
We draw lessons from existing work and our own analysis on the effects of parental leave and other interventions aimed at aiding families. The outcomes of interest are female employment, gender gaps in...
View ArticleTargeted Remedial Education: Experimental Evidence from Peru -- by Juan...
An outstanding challenge in education is improving learning among low-achieving students. We present results from the first randomized experiment of an inquiry-based remedial science-education program...
View ArticleFDI and Capital Formation in Developing Economies: New Evidence from...
We contribute to the long debated issue of whether inward foreign direct investment (FDI) can stimulate investment in developing countries by introducing a novel measure of FDI, based on industry-level...
View ArticleOpen Borders in the European Union and Beyond: Migration Flows and Labor...
In 2004, the European Union admitted 10 new countries, and wages in these countries were generally well below the levels in the existing member countries. Citizens of these newly-admitted countries...
View ArticleThe Rise of American Ingenuity: Innovation and Inventors of the Golden Age --...
We examine the golden age of U.S. innovation by undertaking a major data collection exercise linking historical U.S. patents to state and county-level aggregates and matching inventors to Federal...
View ArticleExit, Tweets and Loyalty -- by Joshua S. Gans, Avi Goldfarb, Mara Lederman
Hirschman's Exit, Voice, and Loyalty highlights the role of "voice" in disciplining firms for low quality. We develop a formal model of voice as a relational contact between firms and consumers and...
View ArticleSubsidizing Fuel Efficient Cars: Evidence from China's Automobile Industry --...
The Chinese automobile market is the largest in the world with annual sales exceeding 20 million vehicles. The tremendous growth in sales---over 200 percent from 2008 to 2015---and concerns over local...
View ArticleThe Effect of State Medicaid Expansions on Prescription Drug Use: Evidence...
This study provides a national analysis of how the 2014 Affordable Care Act (ACA) Medicaid expansions have affected aggregate prescription drug utilization. Given the prominent role of prescription...
View Article'Acting Wife': Marriage Market Incentives and Labor Market Investments -- by...
Do single women avoid career-enhancing actions because these actions could signal personality traits, like ambition, that are undesirable in the marriage market? We answer this question through two...
View ArticlePrestige and Profit: The Royal Society of Arts and Incentives for Innovation,...
Debates have long centered around the relative merits of prizes and other incentives for technological innovation. Some economists have cited the experience of the prestigious Royal Society of Arts...
View ArticlePolitical Determinants of Competition in the Mobile Telecommunication...
We study how political factors shape competition in the mobile telecommunication sector. We show that the way a government designs the rules of the game has an impact on concentration, competition, and...
View ArticleLocation Choice, Portfolio Choice -- by Ioannis Branikas, Harrison Hong,...
Households hold nondiversified stock portfolios of firms headquartered near their city of residence. Explanations assign a causal role for proximity, either in generating an informational advantage or...
View ArticleMisallocation, Selection and Productivity: A Quantitative Analysis with Panel...
We use household-level panel data from China and a quantitative framework to document the extent and consequences of factor misallocation in agriculture. We find that there are substantial frictions in...
View ArticleBirth Order and Delinquency: Evidence from Denmark and Florida -- by Sanni N....
Birth order has been found to have a surprisingly large influence on educational attainment, yet much less is known about the role of birth order on delinquency outcomes such as disciplinary problems...
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