This paper investigates how different outcomes of criminal appeals impact crime deterrence. My panel data analysis (1997-2013) indicates that crime rates decrease when convictions are affirmed by the appellate court, as long as conviction rates are not too high. Crime rates are further found to...

The many facets of retirement have been studied widely by economists. However, the effect of retirement on marriage stability has been ignored in the literature. Retirement represents a dramatic change in individual time allocation that may affect marriage stability. In particular, individuals...

In empirical macroeconomics, proxy structural vector autoregressive models (SVARs) have become a prominent path towards detecting monetary policy (MP) shocks. However, in practice, the merits of proxy SVARs depend on the relevance and exogeneity of the instrumental information employed. Our...

We analyze the impact of EU structural and cohesion funds on economic growth of European regions, using 2SLS to tackle the potential problem of endogeneity, and estimating a spatial model to account for inter-regional spillovers. We use the presence of environmentally protected areas (under the...

We estimate the domestic and international transmission of 4 types of US monetary policy, namely the current fed funds rate, Odyssean and Delphic forward guidance, and large-scale asset purchases. A credit channel is involved in the international transmission, driving large deviations from the...

Within the field of spatial analysis, filtering has emerged as a powerful modeling technique to retrieve systematic patterns of geographical variation. In this work, spatial filtering is introduced in the context of modeling mortality for the first time in actuarial literature....

In empirical macroeconomics, proxy structural vector autoregressive models (SVARs) have become a prominent path towards detecting monetary policy (MP) shocks. However, in practice, the merits of proxy SVARs depend on the relevance and exogeneity of the instrumental information employed. Our...

Panel or grouped data are often used to allow for unobserved individual heterogeneity in econometric models via fixed effects. In this paper, we discuss identification of a panel data model in which the unobserved heterogeneity both enters additively and interacts with treatment variables. We...

This paper studies the impact of adult prosecution on recidivism and employment trajectories for adolescent, first-time felony defendants. We use extensive linked Criminal Justice Admin- istrative Record System and socio-economic data from Wayne County, Michigan (Detroit). Using the discrete age...

This working paper is written by Shifu Jiang (Hong Kong Monetary Authority).We estimate the domestic and international transmission of four types of US monetary policy, namely the current fed funds rate, Odyssean and Delphic forward guidance, and large-scale asset purchases. A credit channel is...