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A Theory of Visionary Disruption
Gans, Joshua - National Bureau of Economic Research - 2022
Exploitation of disruptive technologies often requires resource deployment that creates conflict if there are divergent beliefs regarding the efficacy of a new technology. This arises when a visionary agent has more optimistic beliefs about a technological opportunity. Exploration in the form of...
Persistent link: https://www.econbiz.de/10013210119
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Historical Differences in Female-Owned Manufacturing Establishments : The United States, 1850-1880
Gozen, Ruveyda; Hornbeck, Richard; Humlum, Anders; … - National Bureau of Economic Research - 2024
We characterize female-owned manufacturing establishments using newly digitized manuscripts from the US Census of Manufactures (1850, 1860, 1870, 1880). Female-owned establishments were smaller than male-owned establishments and had lower capital-to-output ratios, which could reflect...
Persistent link: https://www.econbiz.de/10014576604
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News and the Dollar/Yen Exchange Rate, 1931-1933 : The End of the Gold Standard, Imperialism, and the Great Depression
Ito, Takatoshi - 1988
's aggression in China and resulting diplomatic isolation. In 1933, the yen appreciated against the dollar, mainly in the New York …
Persistent link: https://www.econbiz.de/10012476381
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Exchange Rate Returns Standardized by Realized Volatility are (Nearly) Gaussian
Andersen, Torben G. - 2000
. We consider two major dollar exchange rates, and we show that returns standardized instead by the realized volatilities …
Persistent link: https://www.econbiz.de/10012471288
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How Did the Dollar Peg Fail in Asia?
Ito, Takatoshi - 1999
exchange rate fluctuations vis-…-vis the Japanese yen and the US dollar. Then, the optimal basket weight to minimize the …
Persistent link: https://www.econbiz.de/10012471508
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Rethinking Exchange Rate Regimes
Ilzetzki, Ethan; Reinhart, Carmen M.; Rogoff, Kenneth S. - National Bureau of Economic Research - 2021
with a large recent literature, we find that the dollar has become ever-more central as the de facto anchor or reference …
Persistent link: https://www.econbiz.de/10012660025
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The International Price of Remote Work
Brinatti, Agostina; Cavallo, Alberto; Cravino, Javier; … - National Bureau of Economic Research - 2021
. We also document that remote wages in local currency move almost one-for-one with the dollar exchange rate of the worker …
Persistent link: https://www.econbiz.de/10012660114
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Five Facts about the UIP Premium
Kalemli-Ozcan, Sebnem; Varela, Liliana - National Bureau of Economic Research - 2021
We document five novel facts about Uncovered Interest Parity (UIP) deviations vis-à-vis the U.S. dollar for 34 …
Persistent link: https://www.econbiz.de/10012585407
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The Flight to Safety and International Risk Sharing
Kekre, Rohan; Lenel, Moritz - National Bureau of Economic Research - 2021
We study a business cycle model of the international monetary system featuring a time-varying demand for safe dollar … generates a dollar appreciation and decline in global output. Dollar bonds thus command a negative risk premium and the U … fiscal policies, including dollar swap lines …
Persistent link: https://www.econbiz.de/10012629458
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Do Central Banks Rebalance Their Currency Shares?
Chinn, Menzie David; Itō, Hiro; McCauley, Robert N. - National Bureau of Economic Research - 2021
Do central banks rebalance their currency shares? The answer matters because the dollar's predominant role in large …) dollar, stabilising its value against other major currencies. We hypothesise that larger reserve holdings have led central …
Persistent link: https://www.econbiz.de/10012616637