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Local (perturbation) methods compute solutions in one point and tend to deliver far lower accuracy levels than global solution methods. We develop a hybrid method that solves for some policy function...
TAKING RACE OUT OF THE EQUATION: SCHOOL REASSIGNMENT AND THE STRUCTURE OF PEER EFFECTS.
Executive stock options create incentives for executives to manage firms in ways that maximize firm market value. Since options increase in value with the volatility of the underlying stock, executive...
We study the dynamics linking monetary policy with bank leverage and show that adjustments in leverage act as the linchpin in the monetary transmission mechanism that works through fluctuations ...
We explore how the interconnected nature of global finance affects corporate risk taking. We show that a common global factor known to be associated with fluctuations in cross-border...
We explore a global game model of the impact of monetary policy shocks. Risk-neutral asset managers interact with risk-averse households in a market with a risky bond and a floating rate money m...
The purpose of this paper is to examine whether people treat all forms of uncertainty in the same way. Studies investigating known-risk gambles and ambiguous gambles have systematically used the urn c...
We explore a global game model of the impact of monetary policy shocks. Risk-neutral asset managers interact with risk-averse households in a market with a risky bond and a floating rate money...
We study the dynamics linking monetary policy with bank leverage and show that adjustments in leverage act as the linchpin in the monetary transmission mechanism that works through fluctuations...
The Great East Japan Earthquake devastated the eastern regions of Japan on this March. Due to the nuclear accident caused by the earthquake, Japan’s Cabinet stated to revise energy policies. This arti...
The article focuses on the condition of initial public offerings (IPO) of stocks in Fairfield County, Connecticut. The Fairfield County Business Journal reports that about 60 percent of nearly 60 loca...
“SOFTWARE is eating the world,” proclaims Marc Andreessen, the 40-year-old co-founder of Andreessen Horowitz, a venture-capital firm in Silicon Valley that has leapt to prominence since he set it up i...
Despite the rise in grade retention in poor areas in rural China recently, little work has been done to understand the impact of grade retention on the educational performance of students in these are...

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