2016

最新文章

• Monetary Policy, Financial Stability, and the Zero Lower Bound AI翻译
  作者：Fischer, Stanley
  作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
• Revenue and Incentive Effects of Basis Step-Up at Death: Lessons from the 2010 Voluntary Estate Tax Regime AI翻译
  作者：Gordon, Robert; Joulfaian, David; Poterba, James
  作者单位：New York University; United States Department of the Treasury; Georgetown University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
• Too Big to Fail Before the Fed AI翻译
  作者：Gorton, Gary; Tallman, Ellis W.
  作者单位：Yale University; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Cleveland
• Religious Workers' Density and the Racial Earnings Gap AI翻译
  作者：Lozano, Fernando; Cheng, Jessica Shiwen
  作者单位：Claremont Colleges; Pomona College; IZA Institute Labor Economics
• Consumption Inequality and Family Labor Supply AI翻译
  作者：Blundell, Richard; Pistaferri, Luigi; Saporta-Eksten, Itay
  作者单位：University of London; University College London; University of London; London School Economics & Political Science; Stanford University; Center for Economic & Policy Research (CEPR); National Bureau of Economic Research; Tel Aviv University
  摘要：We examine the link between wage and consumption inequality using a life-cycle model incorporating consumption and family labor supply decisions. We derive analytical expressions for the dynamics of consumption, hours, and earnings of two earners in the presence of correlated wage shocks, nonseparability, progressive taxation, and asset accumulation. The model is estimated using panel data for hours, earnings, assets, and consumption. We focus on family labor supply as an insurance mechanism a...
• Just Luck: An Experimental Study of Risk-Taking and Fairness (vol 103, pg 1398, 2013) AI翻译
  作者：Cappelen, Alexander W.; Konow, James; Sorensen, Erik O.; Tungodden, Bertil
  作者单位：Norwegian School of Economics (NHH); University of Kiel; Loyola Marymount University
• The Power of Forward Guidance Revisited AI翻译
  作者：McKay, Alisdair; Nakamura, Emi; Steinsson, Jon
  作者单位：Boston University; Columbia University; Columbia University
  摘要：In recent years, central banks have increasingly turned to forward guidance as a central tool of monetary policy. Standard monetary models imply that far future forward guidance has huge effects on current outcomes, and these effects grow with the horizon of the forward guidance. We present a model in which the power of forward guidance is highly sensitive to the assumption of complete markets. When agents face uninsurable income risk and borrowing constraints, a precautionary savings effect t...
• On the Timing and Pricing of Dividends: Comment AI翻译
  作者：Schulz, Florian
  作者单位：University of Washington; University of Washington Seattle
  摘要：I present novel empirical evidence on the term structure of the equity risk premium. In contrast to previous research that documented high discount rates for the short-term component of the market portfolio, I show evidence for an unconditionally flat term structure of equity risk premia. The tension with previous literature arises largely as a result of differential treatments of heterogeneous investment taxes, manifested in micro evidence on abnormal equity returns on ex-dividend days, and l...
• We Thinking and Its Consequences AI翻译
  作者：Akerlof, Robert
  作者单位：University of Warwick
• Safe Asset Scarcity and Aggregate Demand AI翻译
  作者：Caballero, Ricardo J.; Farhi, Emmanuel; Gourinchas, Pierre-Olivier
  作者单位：Massachusetts Institute of Technology (MIT); Harvard University; University of California System; University of California Berkeley