S&T manpower act as the most important ingredient for scientific and technological activities. It is also an indicator of technological competitiveness of a country, which is most important in the 21st century. The manpower outturn and stock is also an important input while designing science...

This paper examines whether shareholder litigation contributes to the decline in U.S. stock market listings. We find that higher litigation risk induces firms to delist. We establish causality by exploiting a 1999 decision by the Ninth Circuit Court that reduced litigation risk. The effect is at...

A quasi-centralized limit order book (QCLOB) is a limit order book (LOB) in which financial institutions can only access the trading opportunities offered by counterparties with whom they possess sufficient bilateral credit. We perform an empirical analysis of a recent, high-quality data set...

Supported by several recent investigations, the empirical pricing kernel (EPK) puzzle might be considered a stylized fact. Based on an economic model with state dependent preferences for the financial investors, we want to emphasize a microeconomic view that succeeds in explaining the puzzle. We...

Supported by several recent investigations, the empirical pricing kernel (EPK) puzzle might be considered a stylized fact. Based on an economic model with state dependent preferences for the financial investors, we want to emphasize a microeconomic view that succeeds in explaining the puzzle. We...

We conducted a rapid analysis of President Biden’s executive order to cancel student debt. The analysis uses survey data from the National Center for Education Statistics Beginning Postsecondary Student (04/12) survey and Baccalaureate and Beyond (2016/2017) survey and the Survey of Consumer...