Narrow search
Showing 1 - 10 of 364
Cover Image
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
Cover Image
Term Length and Political Performance
Dal Bo, Ernesto - 2010
We evaluate the effects of the duration of legislative terms on the performance of legislators. We exploit a natural …
Persistent link: https://www.econbiz.de/10012758131
Cover Image
Current Account Sustainability and Relative Reliability
Curcuru, Stephanie E. - 2010
The sustainability of the large and persistent U.S. current account deficits is one of the biggest issues currently being confronted by international macroeconomists. Some very plausible theories suggest that the substantial global imbalances can continue in a benign manner, other equally...
Persistent link: https://www.econbiz.de/10012758438
Cover Image
Frequency of Price Adjustment and Pass-Through
Gopinath, Gita - 2010
, estimates of long-run pass-through shed light on the determinants of the duration of prices. The standard workhorse model with … the variation in pass-through in the data can generate substantial variation in price duration, equivalent to one third of …
Persistent link: https://www.econbiz.de/10012758567
Cover Image
Returns to Physician Human Capital : Analyzing Patients Randomized to Physician Teams
Doyle, Joseph J. - 2010
Patient sorting can confound estimates of the returns to physician human capital. This paper compares nearly 30,000 patients who were randomly assigned to clinical teams from one of two academic institutions. One institution is among the top medical schools in the country, while the other...
Persistent link: https://www.econbiz.de/10012758577
Cover Image
Moral Hazard vs. Liquidity and Optimal Unemployment Insurance
Chetty, Raj - 2010
unemployment durations caused by UI benefits is due to a quot;liquidity effectquot; rather than distortions in marginal incentives … much larger effects on durations for liquidity constrained households. Second, lump-sum severance payments increase … reduced-form liquidity and moral hazard elasticities. The formula implies that the optimal UI benefit level exceeds 50 percent …
Persistent link: https://www.econbiz.de/10012759356
Cover Image
After Midnight : A Regression Discontinuity Design in Length of Postpartum Hospital Stays
Almond, Douglas - 2010
Patients who receive more hospital treatment tend to have worse underlying health, confounding estimates of the returns to such care. This paper compares the costs and benefits of extending the length of hospital stay following delivery using a discontinuity in stay length for infants born close...
Persistent link: https://www.econbiz.de/10012759459
Cover Image
Social Security and the Timing of Divorce
Goda, Gopi Shah - 2010
Social Security provides spousal benefits in retirement to secondary workers in married couples based on the primary worker's earnings record. In addition, Social Security pays spousal benefits to divorced secondary workers whose marriages lasted at least ten years. However, if a marriage failed...
Persistent link: https://www.econbiz.de/10012759856
Cover Image
The Spike at Benefit Exhaustion : Leaving the Unemployment System or Starting a New Job?
Card, David - 2010
In this paper, we review the literature on the quot;spikequot; in unemployment exit rates around benefit exhaustion, and present new evidence based on administrative data for a large sample of job losers in Austria. We find that the way unemployment spells are measured has a large effect on the...
Persistent link: https://www.econbiz.de/10012760395
Cover Image
Quasi-Experimental Evidence on the Effects of Unemployment Insurance from New York State
Meyer, Bruce D. - 2010
This paper examines unemployment duration and the incidence of claims following a 36 percent increase in the maximum … duration to be convincingly separated from effects on incidence. The results show a sharp fall in the hazard of leaving UI that … incidence of claims and with this change in incidence biasing duration estimates. The evidence further suggests that, at least …
Persistent link: https://www.econbiz.de/10012760421