Showing 1 - 10 of 449
philanthropy, in improving access and quality of public schooling in Georgia and in the rest of the South in the first half of the …
Persistent link: https://www.econbiz.de/10013219296
. We track descendants of those eligible to win in Georgia's Cherokee Land Lottery of 1832, which had nearly universal …
Persistent link: https://www.econbiz.de/10013077227
We characterize the macroeconomic performance of a set of industrialized economies in the aftermath of the oil price shocks of the 1970s and of the last decade, focusing on the differences across episodes. We examine four different hypotheses for the mild effects on inflation and economic...
Persistent link: https://www.econbiz.de/10012751823
-controlled migration, distinguishing between source developing and developed countries. We utilize free-movement within the EU to examine … the free migration regime and compare that to immigration into the EU from two other groups, developed and developing …
Persistent link: https://www.econbiz.de/10013129125
This paper models and estimates ex ante safety-net benefits at a sample of large banks in US and Europe during 2003-2008. Our results suggest that difficult-to-fail and unwind (DFU) banks enjoyed substantially higher ex ante benefits than other institutions. Safety-net benefits prove...
Persistent link: https://www.econbiz.de/10013130253
We examine the capital-market effects of changes in securities regulation in the European Union (EU) aimed at reducing … market abuse and increasing transparency. To estimate causal effects for the population of EU firms, we exploit that for … plausibly exogenous reasons, like national legislative procedures, EU countries adopted these directives at different times. We …
Persistent link: https://www.econbiz.de/10013130969
This paper estimates, using data from the United States and Euro Area, a two-country stochastic growth model in which both neutral and investment-specific technology shocks are nonstationary but cointegrated across economies. The results point to large and persistent swings in productivity, both...
Persistent link: https://www.econbiz.de/10013131508
At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to … segmentation is significantly lower for EU versus non- EU members. Bilateral valuation differentials remain lower for EU members …, financial regulation, and interest rate differences. Importantly, we find that EU membership reduces equity market segmentation …
Persistent link: https://www.econbiz.de/10013135396
We use a comprehensive database of inter-dealer quotes to conduct the first empirical analysis of the dynamics of the swaption cube. Using a model independent approach, we establish a set of stylized facts regarding the cross-sectional and time-series variation of conditional volatility and...
Persistent link: https://www.econbiz.de/10013135764
Using a small empirical model of inflation, output, and money estimated on U.S. data, we compare the relative performance of monetary targeting and inflation targeting. The results show that monetary targeting would be quite inefficient, with both higher inflation and output variability. This is...
Persistent link: https://www.econbiz.de/10013137167