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Does Drawing Down the U.S. Strategic Petroleum Reserve Help Stabilize Oil Prices?
Kilian, Lutz - 2019
We study the efficacy of releases from the U.S. Strategic Petroleum Reserve (SPR) within the context of fully specified models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. Using novel identifying strategies and evaluation methods,...
Persistent link: https://www.econbiz.de/10012865918
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Concentration in International Markets : Evidence from US Imports
Bonfiglioli, Alessandra; Crinò, Rosario; Gancia, Gino - 2021
We use transaction-level data to study changes in the concentration of US imports. Concentration has fallen in the typical industry, while it is stable by industry and origin country. The fall in concentration is driven by the extensive margin: the number of exporting firms has grown, and the...
Persistent link: https://www.econbiz.de/10013235106
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The Impacts of the Dollar-Renminbi Exchange Rate Misalignment on the China-United States Commodity Trade : An Asymmetric Analysis
Ferjani, Sabrine; Saafi, Sami; Nouira, Ridha; Rault, … - 2022
Contrary to most existing studies of the literature that assumed that the effects of real exchange rate (RE) misalignment on trade flows are symmetric, this paper considers a more general and realistic framework allowing for possible asymmetric effects. We use monthly time-series data over the...
Persistent link: https://www.econbiz.de/10013291707
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Structural Transformation of Occupation Employment
Duernecker, Georg; Herrendorf, Berthold - 2021
reallocation of labor from goods-producing to service-producing occupations is a robust feature in censuses from around the world …
Persistent link: https://www.econbiz.de/10013211114
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The Fiscal Theory of the Price Level with a Bubble
Brunnermeier, Markus K. - 2020
This paper incorporates a bubble term in the standard FTPL equation to explain why countries with persistently negative primary surpluses can have a positively valued currency and low inflation. It also provides an example with closed-form solutions in which idiosyncratic risk on capital returns...
Persistent link: https://www.econbiz.de/10012834354
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Financial Cycles, Credit Bubbles and Stabilization Policies
Corrado, Luisa - 2019
This paper analyzes the effects of several policy instruments to mitigate financial bubbles generated in the banking … policy instruments in counteracting financial bubbles. We find that an endogenous capital requirement reduces the impact of a …
Persistent link: https://www.econbiz.de/10012892165
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Another Look at Cryptocurrency Bubbles
Gronwald, Marc - 2019
This paper deals with cryptocurrency bubbles. First, it points out that a number of recent papers on cryptocurrency … bubbles are awed due to an insufficient consideration of the fundamental value of cryptocurrencies. As even fiat money is said … to exhibit features of bubbles, the same applies to cryptocurrencies. Thus, any empirical investigation into either the …
Persistent link: https://www.econbiz.de/10012866076
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The Role of Venture Capital and Governments in Clean Energy : Lessons from the First Cleantech Bubble
van den Heuvel, Matthias; Popp, David - 2022
After a boom and bust cycle in the early 2010s, venture capital (VC) investments are, once again, flowing towards green businesses. In this paper, we use Crunchbase data on 150,000 US startups founded between 2000 and 2020 to better understand why VC initially did not prove successful in funding...
Persistent link: https://www.econbiz.de/10013292501
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Approximate Expected Utility Rationalization
Echenique, Federico - 2019
We propose a new measure of deviations from expected utility, given data on economic choices under risk and uncertainty. In a revealed preference setup, and given a positive number e, we provide a characterization of the datasets whose deviation (in beliefs, utility, or perceived prices) is...
Persistent link: https://www.econbiz.de/10012892237
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On the Causes and Consequences of Deviations from Rational Behavior
Zegners, Dainis - 2020
This paper presents novel evidence for the prevalence of deviations from rational behavior in human decision making – and for the corresponding causes and consequences. The analysis is based on move-by-move data from chess tournaments and an identification strategy that compares behavior of...
Persistent link: https://www.econbiz.de/10012831655