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A new options-pricing formula applies to far-out-of-the money put options on the overall stock market when disaster risk is the dominant force, the size distribution of disasters follows a power law, and the economy has a representative agent with Epstein-Zin utility. In the applicable region,...
Persistent link: https://www.econbiz.de/10012456784
India. Between 1995 and 2009, 85 percent of coal-based generation capacity owned by state governments was unbundled from …
Persistent link: https://www.econbiz.de/10012461275
remain small. We estimate the parameters of the model using firm-level data for India and the United States. We study the …
Persistent link: https://www.econbiz.de/10012660011
complementarity. This amplification enables our model to nearly fully account for the income gap between India and the US without …
Persistent link: https://www.econbiz.de/10012496114
This paper proposes a new framework for studying the interplay between culture and institutions. We follow the recent sociology literature and interpret culture as a \repertoire", which allows rich cultural responses to changes in the environment and shifts in political power. Specifically, we...
Persistent link: https://www.econbiz.de/10012533381
American metropolitan areas with comparable geographic units in Brazil, China and India. Both Gibrat's Law and Zipf's Law seem … to hold as well in Brazil as in the U.S., but China and India look quite different. In Brazil and China, the implications … of the spatial equilibrium hypothesis, the central organizing idea of urban economics, are not rejected. The India data …
Persistent link: https://www.econbiz.de/10012456671
's technology gaps both with the U.S. and India between 1979 and 2008, comparing the technology level of these economies using a CES … India and the U.S. for the period before 2008. The pairwise gaps between the U.S. and China, and the U.S. and India remain … productivity than India over the period, the bilateral technology gap between China and India is still in India's favor. India had …
Persistent link: https://www.econbiz.de/10012457012
by carrying out algorithmic audits of Facebook in its two biggest markets, the US and India, focusing on two algorithms …
Persistent link: https://www.econbiz.de/10014226178
the US, India, and Africa are matched in pairs within and, in some cases, across countries. Employers make a one … by conditional reciprocity or by intrinsic motivation. Subjects from India and Africa are more likely to follow intrinsic …
Persistent link: https://www.econbiz.de/10013362026
"A long-standing question in social science is to what extent differences in management cause differences in firm performance. To investigate this we ran a management field experiment on large Indian textile firms. We provided free consulting on modern management practices to a randomly chosen...
Persistent link: https://www.econbiz.de/10011394862