2007

最新文章

• Beliefs, doubts and learning: Valuing macroeconomic risk AI翻译
  作者：Hansen, Lars Peter
  作者单位：University of Chicago
• Reciprocity in groups and the limits to social capital AI翻译
  作者：Bloch, Francis; Genicot, Garance; Ray, Debraj
  作者单位：Aix-Marseille Universite; Georgetown University; New York University
• Testing for indeterminacy: An application to US monetary policy: Reply AI翻译
  作者：Lubik, Thomas A.; Schorfheide, Frank
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - Richmond; University of Pennsylvania
• Competence implies credibility AI翻译
  作者：Moscarini, Giuseppe
  摘要：The (reputation for) competence of a central bank at doing its job makes monetary policy under discretion credible and transparent. Based on its reading of the state of the economy, the central bank announces its policy intentions to the public in a cheap-talk game. The precision of its private signal measures its competence. The fineness of the equilibrium message space measures its credibility and transparency. This is increasing in the competence/inflation bias ratio: the public expects a c...
• The impact of new drugs on US longevity and medical expenditure, 1990-2003: Evidence from longitudinal, disease-level data AI翻译
  作者：Lichtenberg, Frank R.
  作者单位：Columbia University
• Market maker inventories and stock prices AI翻译
  作者：Hendershott, Terrence; Seasholes, Mark S.
  作者单位：University of California System; University of California Berkeley
• The cross section of foreign currency risk premia and consumption growth risk AI翻译
  作者：Lustig, Hanno; Verdelhan, Adrien
  作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Boston University
  摘要：Aggregate consumption growth risk explains why low interest rate currencies do not appreciate as much as the interest rate differential and why high interest rate currencies do not depreciate as much as the interest rate differential. Domestic investors earn negative excess returns on low interest rate currency portfolios and positive excess returns on high interest rate currency portfolios. Because high interest rate currencies depreciate on average when domestic consumption growth is low and...
• Do we really know that the WTO increases trade? Reply AI翻译
  作者：Rose, Andrew K.
  作者单位：University of California System; University of California Berkeley
• Good-bye Lenin (or not?): The effect of communism on people's preferences AI翻译
  作者：Alesina, Alberto; Fuchs-Schuendeln, Nicola
  作者单位：Harvard University
• Selection bias, demographic effects, and ability effects in common value auction experiments AI翻译
  作者：Casari, Marco; Ham, John C.; Kagel, John H.
  作者单位：Purdue University System; Purdue University; University of Southern California; University System of Ohio; Ohio State University
  摘要：Inexperienced women, along with economics and business majors, are much more susceptible to the winner's curse, as are subjects with lower SAT/ACT scores. There are strong selection effects in bid function estimates for inexperienced and experienced subjects due to bankruptcies and bidders who have lower earnings returning less frequently as experienced subjects. These selection effects are not identified using standard econometric techniques but are identified through experimental treatment e...