The developing Chinese economy has gone through significant market reforms in recent decades by taking a deliberate path of trail-and-error policymaking. We hand-collect a sample of 59 policy reversals related to market liberalization from 1999 to 2017. Using a general equilibrium term structure...

Over the last decade, the derivatives market has witnessed a collapse of covered interest parity (CIP) which has unlocked a stream of arbitrage opportunities across currencies for investment managers. In this paper, we introduce two new factors --- inflation differential and relative economic...

Drawing on insights of current and past editors of top economics and finance journals, we provide guidelines for reviewers in preparing referee reports and cover letters for journals. Peer review is fundamental to the progress of science and we believe that fundamental changes in reviewing...

Peer review is fundamental to the efficacy of the scientific process. We draw from our experience both as editors, authors and association representatives to provide a set of guidelines for referees in preparing their reports and cover letters to journal editors. While our document is directed...

This paper proposes a simple generalization of the classical measurement error model, introducing new measurement errors that subtract signal from the true variable of interest, in addition to the usual classical measurement errors (CME) that add noise. The effect on OLS regression of these lack...

In this paper we study the implications of general-purpose technological growth for asset prices. The model features two types of shocks: quot;smallquot;, frequent, and disembodied shocks to productivity and quot;largequot; technological innovations, which are embodied into new vintages of the...

I document that the return expectations of Wall Street analysts are contrarian and countercyclical, contrasting with existing evidence that return expectations among Main Street investors (CFOs, retail investors) appear exclusively extrapolative and positively correlated. I demonstrate that an...

The present paper, following the philosophical work of Robert Nozick, intends to develop the approach of simplicity in the economic investigation. This purpose contributes to structure a heuristic for projects of investigation that can serve like mark of discussion of grade projects in the...

The recent political developments in the Middle East have prompted increased scrutiny of the economies of the nations lying in this region. Over the past few months, the financial markets of Middle East and North Africa (MENA) have been affected by the speculations that existed before the war in...