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How Do Top Acquirers Compare in Technology Mergers? New Evidence from an S&P Taxonomy
Jin, Ginger Zhe; Leccese, Mario; Wagman, Liad - National Bureau of Economic Research - 2022
Some argue that large platforms, such as Alphabet/Google, Amazon, Apple, Facebook and Microsoft (or GAFAM), are unusual in their number, pace and concentration of technology mergers, with the potential to harm market competition. Using a unique taxonomy developed by S&P Global Market...
Persistent link: https://www.econbiz.de/10012814417
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Endogenous Stratification in Randomized Experiments
Abadie, Alberto - 2013
Researchers and policy makers are often interested in estimating how treatments or policy interventions affect the outcomes of those most in need of help. This concern has motivated the increasingly common practice of disaggregating experimental data by groups constructed on the basis of an...
Persistent link: https://www.econbiz.de/10012458921
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Nonlinear Policy Rules and the Identification and Estimation of Causal Effects in a Generalized Regression Kink Design
Card, David - 2012
We consider nonparametric identification and estimation in a nonseparable model where a continuous regressor of … endogenous assignment variable (like previous earnings). We provide new results on identification and estimation for these …
Persistent link: https://www.econbiz.de/10012460096
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External Validity in a Stochastic World
Rosenzweig, Mark - 2016
We examine the generalizability of internally valid estimates of causal effects in a fixed population over time when that population is subject to aggregate shocks. This temporal external validity is shown to depend upon the distribution of the aggregate shocks and the interaction between these...
Persistent link: https://www.econbiz.de/10012456228
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The Effects of Cryptocurrency Wealth on Household Consumption and Investment
Aiello, Darren; Baker, Scott; Balyuk, Tetyana; Di … - National Bureau of Economic Research - 2023
This paper uses transaction-level data across millions of accounts to identify cryptocurrency investors and evaluate how fluctuations in individual crypto wealth affect household consumption, equity investment, and local real estate markets. We estimate an MPC out of unrealized crypto gains that...
Persistent link: https://www.econbiz.de/10014322832
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COVID-Induced Economic Uncertainty
Baker, Scott R. - 2020
Assessing the economic impact of the COVID-19 pandemic is essential for policymakers, but challenging because the crisis has unfolded with extreme speed. We identify three indicators - stock market volatility, newspaper-based economic uncertainty, and subjective uncertainty in business...
Persistent link: https://www.econbiz.de/10012481939
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Policy Evaluation in Uncertain Economic Environments
Brock, William A. - 2003
This paper develops a decision-theoretic approach to policy analysis. We argue that policy evaluation should be conducted on the basis of two factors: the policymaker's preferences, and the conditional distribution of the outcomes of interest given a policy and available information. From this...
Persistent link: https://www.econbiz.de/10012468673
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Testing Macroprudential Stress Tests : The Risk of Regulatory Risk Weights
Acharya, Viral V. - 2013
their risk assessments and outcomes to those from a simple methodology that relies on publicly available market data and … market data; (iii) This discrepancy arises due to the reliance on regulatory risk weights in determining required levels of … capital once stress-test losses are taken into account. In particular, the continued reliance on regulatory risk weights in …
Persistent link: https://www.econbiz.de/10012459694
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The Macroeconomic Impact of Financial and Uncertainty Shocks
Caldara, Dario - 2016
The extraordinary events surrounding the Great Recession have cast a considerable doubt on the traditional sources of macroeconomic instability. In their place, economists have singled out financial and uncertainty shocks as potentially important drivers of economic fluctuations. Empirically...
Persistent link: https://www.econbiz.de/10012456616
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Biodiversity Risk
Giglio, Stefano; Kuchler, Theresa; Stroebel, Johannes; … - National Bureau of Economic Research - 2023
values. We first develop a news-based measure of aggregate biodiversity risk and analyze how it varies over time. We also … construct and publicly release several firm-level measures of exposure to biodiversity risk, based on textual analyses of firms …-related funds. Exposures to biodiversity risk vary substantially across industries in a way that is economically sensible and …
Persistent link: https://www.econbiz.de/10014250155