The first-in, first-out (FIFO) queue discipline respects the order of arrival but is not efficient when customers have heterogeneous waiting costs. Priority queues, in which customers with higher waiting costs are served before customers with lower waiting costs, are more efficient but usually...

Dollar carry trade risk premiums – unlike dollar-neutral or foreign exchange carry risk premiums – are positively correlated with firm-level dispersions in investment, profitability, and book-to-market in addition to the Treasury-bill rate, long term bond yield, term spread, and default...

100% renewable energy is increasingly becoming a goal in the United States, and it makes sense for both climate and cost reasons. First, generating electricity from renewable resources, instead of fossil fuels, avoids climate-changing carbon and methane emissions. Second, solar and wind power...

We determine how time delays affect trade, using newly collected data on the days it takes to move standard cargo from the factory gate to the ship in 98 countries. We estimate a difference gravity equation and find that each additional day that a product is delayed prior to being shipped...

Dollar carry trade risk premiums - unlike dollar-neutral or foreign exchange carry risk premiums - are positively correlated with firm-level dispersions in investment, profitability, and book-to-market in addition to the Treasury-bill rate, long term bond yield, term spread, and default spread....

This paper studies the properties of high frequency stock trading time using the Trade and Quote Data starting from 1993 to 2002. I show that all these stocks' trading time dynamics exhibit similar temporal patterns: 1) they can be modeled as multifractal processes at large time scales ranging...

This paper, exploiting the properties of mixed causal and noncausal models, proposes strategies to detect time reversibility in stochastic processes. These novel strategies can be implemented to verify the time reversibility of stationary stochastic processes. We show that they can also be used...