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Global Natural Rates in the Long Run : Postwar Macro Trends and the Market-Implied r* in 10 Advanced Economies
Davis, Joshua M.; Fuenzalida, Cristian; Huetsch, Leon; … - National Bureau of Economic Research - 2023
Benchmark finance and macroeconomic models appear to deliver conflicting estimates of the natural rate and bond risk premia. This natural rate puzzle applies not only in the U.S. but across many advanced economies. We use a unified no-arbitrage macro- finance model with two trend factors to...
Persistent link: https://www.econbiz.de/10014421212
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Beyond BMI : The Value of More Accurate Measures of Fatness and Obesity in Social Science Research
Cawley, John - 2006
As an example of the value of fatness in predicting social science outcomes, we show that while BMI is positively correlated with the probability of employment disability in the PSID, when body mass is divided into its components, fatness is positively correlated with disability while fat-free...
Persistent link: https://www.econbiz.de/10012466377
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Measuring the Impact of Crack Cocaine
Fryer, Roland G. - 2005
A wide range of social indicators turned sharply negative for Blacks in the late 1980s and began to rebound roughly a decade later. We explore whether the rise and fall of crack cocaine can explain these patterns. Absent a direct measure of crack cocaine's prevalence, we construct an index based...
Persistent link: https://www.econbiz.de/10012467365
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The Black-White Education-Scaled Test-Score Gap in Grades K-7
Bond, Timothy N. - 2013
with a given test score in a given grade. We show that measurement error in test scores causes this approach to … grows rapidly in the early school years, particularly in reading, after correction for measurement error, the education …
Persistent link: https://www.econbiz.de/10012459419
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The Evolution of the Black-White Test Score Gap in Grades K-3 : The Fragility of Results
Bond, Timothy N. - 2012
Although both economists and psychometricians typically treat them as interval scales, test scores are reported using ordinal scales. Using the Early Childhood Longitudinal Study and the Children of the National Longitudinal Survey, we examine the effect of order-preserving scale transformations...
Persistent link: https://www.econbiz.de/10012460699
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Financial Market Risk Perceptions and the Macroeconomy
Pflueger, Carolin - 2019
We propose a novel measure of risk perceptions: the price of volatile stocks (PVS<sub>t</sub>), defined as the book-to-market ratio of low-volatility stocks minus the book-to-market ratio of high-volatility stocks. PVS<sub>t</sub> is high when perceived risk directly measured from surveys and option prices is low....
Persistent link: https://www.econbiz.de/10012480235
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Risk Bearing, Implicit Financial Services and Specialization in the Financial Industry
Wang, J. Christina - 2008
This paper makes three points regarding the proper measurement of the output of financial intermediaries. Two of them … concern the measurement of nominal financial output, especially banking output. First, we show that, to impute the nominal … third point concerns the construction of a financial services price index, and thus applies to the measurement of real …
Persistent link: https://www.econbiz.de/10012464033
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A Multiple Indicators Model for Volatility Using Intra-Daily Data
Engle, Robert F. - 2003
Many ways exist to measure and model financial asset volatility. In principle, as the frequency of the data increases, the quality of forecasts should improve. Yet, there is no consensus about a true' or best' measure of volatility. In this paper we propose to jointly consider absolute daily...
Persistent link: https://www.econbiz.de/10012468577
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Financial Risk Measurement for Financial Risk Management
Andersen, Torben G. - 2012
Current practice largely follows restrictive approaches to market risk measurement, such as historical simulation or … cross-fertilize the academic and practitioner communities, promoting improved market risk measurement technologies that draw …
Persistent link: https://www.econbiz.de/10012460575
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Diversity, Equity, and Inclusion
Edmans, Alex; Flammer, Caroline; Glossner, Simon - National Bureau of Economic Research - 2023
This paper measures diversity, equity, and inclusion (DEI) using proprietary data on survey responses used to compile the Best Companies to Work For list. We identify 13 of the 58 questions as being related to DEI, and aggregate the responses to form our DEI measure. This variable has low...
Persistent link: https://www.econbiz.de/10014287316