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Arbitrage-Free Limit Order Books and the Pricing of Order Flow Risk

Lehmann, Bruce N. - 2008

This paper builds on the landmark contribution of Glosten (1994) by treating the determination of limit order supply schedules as an exercise in asset pricing theory with the possible sizes of incoming market orders as the value-relevant states of nature, yielding an analogue of the Fundamental...

Persistent link: https://www.econbiz.de/10012772385

Market Liquidity and Funding Liquidity

Pedersen, Lasse Heje - 2007

' funding liquidity - i.e., the ease with which they can obtain funding. Traders provide market liquidity, and their ability to … market liquidity and funding liquidity are mutually reinforcing, leading to liquidity spirals. The model explains the …We provide a model that links an asset's market liquidity - i.e., the ease with which it is traded - and traders …

Persistent link: https://www.econbiz.de/10012777582

Corporate Bond Default Risk : A 150-Year Perspective

Giesecke, Kay - 2010

We study corporate bond default rates using an extensive new data set spanning the 1866-2008 period. We find that the corporate bond market has repeatedly suffered clustered default events much worse than those experienced during the Great Depression. For example, during the railroad crisis of...

Persistent link: https://www.econbiz.de/10013146263

Putting Computerized Instruction to the Test : A Randomized Evaluation of a "Scientifically-Based" Reading Program

Rouse, Cecilia E. - 2012

Although schools across the country are investing heavily in computers in the classroom, there is surprisingly little evidence that they actually improve student achievement. In this paper we present results from a randomized study of a well-defined use of computers in schools: a popular...

Persistent link: https://www.econbiz.de/10013115712

Experimental Evidence on the Effects of Home Computers on Academic Achievement Among Schoolchildren

Fairlie, Robert W. - 2013

Computers are an important part of modern education, yet many schoolchildren lack access to a computer at home. We test whether this impedes educational achievement by conducting the largest-ever field experiment that randomly provides free home computers to students. Although computer ownership...

Persistent link: https://www.econbiz.de/10013081832

Computing Inequality : Have Computers Changed the Labor Market?

Autor, David H. - 2007

This paper examines the effect of technological change and other factors on the relative demand for workers with different education levels and on the recent growth of U.S. educational wage differentials. A simple supply-demand framework is used to interpret changes in the relative quantities,...

Persistent link: https://www.econbiz.de/10012778847

Computerization and Immigration : Theory and Evidence from the United States

Basso, Gaetano - 2017

Recent technological changes have been characterized as “routine-substituting,” reducing demand for routine tasks but increasing it for analytical and service tasks. Little is known about how these changes have impacted immigration, or task specialization between immigrants and natives. In...

Persistent link: https://www.econbiz.de/10012945606

A Practical Guide to Parallelization in Economics

Fernández-Villaverde, Jesús - 2018

This guide provides a practical introduction to parallel computing in economics. After a brief introduction to the basic ideas of parallelization, we show how to parallelize a prototypical application in economics using, on CPUs, Julia, Matlab, R, Python, C++-OpenMP, Rcpp–OpenMP, and C++-MPI,...

Persistent link: https://www.econbiz.de/10012920352

The Effects of Computers and Acquired Skills on Earnings, Employment and College Enrollment : Evidence from a Field Experiment and California Ui Earnings Records

Fairlie, Robert W. - 2018

This paper provides the first evidence on the earnings, employment and college enrollment effects of computers and acquired skills from a randomized controlled trial providing computers to entering college students. We matched confidential administrative data from California Employment...

Persistent link: https://www.econbiz.de/10012928315

Tools or Toys? the Impact of High Technology on Scholarly Productivity

Hamermesh, Daniel S.; Oster, Sharon M. - 2021

Toys. The impact of computers on productivity has been examined directly on macro data and indirectly (on wages) using microeconomic data. This study examines the direct impact on the productivity of scholarship by considering how high technology might alter patterns of coauthoring of articles...

Persistent link: https://www.econbiz.de/10013222211

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