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Innovation and uncertainty in the medical industry: Evidence from the case of Myriad Genetics, Inc.

Veuger, Stan A.; Clemens, Jeffrey - American Enterprise Institute - 2015

We describe the broad range of uncertainties faced by the developers of medicalÂÂ technologies. Empirically, we estimate the asset market incidence of the realization ÂÂ of two such of uncertainties experienced by the biotechnology firmÂÂ Myriad Genetics, Inc.

Persistent link: https://www.econbiz.de/10011273205

Portfolio diversification in concentrated bond and loan portfolios

Kupiec, Paul H. - American Enterprise Institute - 2015

In this working paper, Paul Kupiec develops an algorithm to approximate the loss rate distribution for fixed income portfolios with obligor concentrations.

Persistent link: https://www.econbiz.de/10011273214

Measuring and communicating Social Security earnings replacement rates

Biggs, Andrew George; Schieber, Sylvester J.; Pang, Gaobo - American Enterprise Institute - 2015

Persistent link: https://www.econbiz.de/10011265306

Testing for systemic risk using stock returns

Kupiec, Paul H. - American Enterprise Institute - 2015

Conditional value at risk (CoVaR) and marginal expected shortfall (MES) have been proposed as stock return based measures of the systemic risk created by individual financial institutions even though the literature provides no formal hypothesis test for detecting systemic risk. Our conclusion is...

Persistent link: https://www.econbiz.de/10011124239

Can the 'single point of entry' strategy be used to recapitalize a failing bank?

Kupiec, Paul H.; Wallison, Peter J. - American Enterprise Institute - 2014

The failure of the largest banks will not generally endanger the solvency of their parent bank holding companies (BHCs), preventing the secretary of the Treasury from using single point of entry (SPOE).

Persistent link: https://www.econbiz.de/10011124242

The Dormant Commerce Clause and the Balkanization of the Municipal Bond Market (with Technical Appendix)

Viard, Alan D. - American Enterprise Institute - 2009

The selective income tax exemption for home-state municipal bonds at issue in Davis v. Kentucky Department of Revenue is a barrier to interstate commerce.

Persistent link: https://www.econbiz.de/10010941120

State taxation of interstate commerce and income flows: The economics of Neutrality

Viard, Alan D.; Lirette, Ryan - 2014

Although the U.S. Supreme Court has long held that the Commerce Clause of the U.S. Constitution prohibits state taxes … that discriminate against interstate commerce, it has failed to provide a clear explanation of which taxes are … interstate commerce. We show that state taxes discriminate against interstate commerce if the combined tax burden on inbound and …

Persistent link: https://www.econbiz.de/10014439119

Why the Small Business Administration's Loan Programs Should Be Abolished

Rugy, Veronique de - American Enterprise Institute - 2009

This working paper finds no evidence that the SBA loan guarantees serve any focused or rigorously defined public policy purpose at all.

Persistent link: https://www.econbiz.de/10010941136

Predicting Tax Reform

hassett, kevin allen; Mathur, Aparna - American Enterprise Institute - 2009

Despite the frequency of tax changes and their potential importance to investors, there has been relatively little modeling of anticipated tax changes.

Persistent link: https://www.econbiz.de/10010941139

Do political protests matter? Evidence from the Tea Party movement

Veuger, Stan A.; Shoag, Daniel; Madestam, Andreas; … - American Enterprise Institute - 2012

Can protests cause political change, or are they merely symptoms of underlying shifts in policy preferences?

Persistent link: https://www.econbiz.de/10010949200

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