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The Effect of News on Bond Prices : Evidence from the United Kingdom 1900-1920
Elmendorf, Douglas W.; Weil, David N.; Hirschfeld, Mary L. - 2021
We study the relationship of non-quantitative news to bond prices. We select a set of major news events based solely on their significance as judged by historians, and examine the corresponding bond price movements. We find strong evidence that news has some influence on bond price movements,...
Persistent link: https://www.econbiz.de/10013232737
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Technology Entry in the Presence of Patent Thickets
Hall, Bronwyn H. - 2015
describes incentives to enter technology areas characterized by varying technological opportunity, complexity, and the potential …
Persistent link: https://www.econbiz.de/10013017500
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Effect of Pensions and Disability Benefits on Retirement in the UK
Banks, James W. - 2014
can be explained by the availability of publicly-funded disability insurance and the financial incentives provided by … affected by financial incentives. A one standard deviation change in the option value is estimated to reduce the likelihood of … exit probability of 9.4%. This suggests the variation in financial incentives across different individuals could explain a …
Persistent link: https://www.econbiz.de/10013058259
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A Lifetime of Changes : State Pensions and Work Incentives at Older Ages in the UK, 1948-2018
Banks, James W. - 2018
broadly neutral with regard to work incentives. Exploiting variation in pension wealth and work incentives across different …
Persistent link: https://www.econbiz.de/10012907763
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Optimal Monetary Policy and Wage Indexation Under Alternative Disturbances and Information Structures
Turnovsky, Stephen - 2010
The interdependence between the optimal degree of wage indexation and optimal monetary policy is analyzed for a small open economy under a variety of assumptions regarding: (i) relative information available to private agents and the stabilization authority; (ii) the perceived nature of the...
Persistent link: https://www.econbiz.de/10012760318
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Education, Information, and Efficiency
Welch, Finis - 2010
This represents two chapters of a proposed book co-authored by Bob Evenson and myself. The subject is relationships between agricultural productivity, research and information. The first chapter of this part is concerned with the quot;theoryquot; of the value of information. Among other things,...
Persistent link: https://www.econbiz.de/10012763235
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Information and Capital Markets
Stiglitz, Joseph E. - 2004
This paper provides the foundations of a general theory of information and the capital market. We show that in a pure …, and, in particular, they may behave in a risk averse manner, paying attention to own risk (which traditional theory …
Persistent link: https://www.econbiz.de/10012786274
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Social Learning and Selective Attention
Caplin, Andrew - 2015
Popularity is self reinforcing. The attention garnered by popular options propels further interest in them. Yet rather than blindly follow the crowd, most pay attention to how well these items match their tastes. We model this role of social learning in guiding selective attention and market...
Persistent link: https://www.econbiz.de/10013026798
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College Attrition and the Dynamics of Information Revelation
Arcidiacono, Peter - 2016
This paper investigates the role played by informational frictions in college and the workplace. We estimate a dynamic structural model of schooling and work decisions, where individuals have imperfect information about their schooling ability and labor market productivity. We take into account...
Persistent link: https://www.econbiz.de/10012989133
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The Revolution of Information Economics : The Past and the Future
Stiglitz, Joseph E. - 2017
contract theory and behavioral economics. It reinvigorated institutional economics, showing how institutions mattered, in some …
Persistent link: https://www.econbiz.de/10012948090