Showing 161 - 170 of 14,519
We randomized over 5,000 US individuals in poverty to one of three conditions during the first year of the COVID-19 pandemic: receiving a one-time $500 unconditional cash transfer (UCT; half a month’s worth of total household income for the median participant; N=1,374), a $2,000 UCT (two...
Persistent link: https://www.econbiz.de/10014025919
We develop and estimate a life-cycle consumption savings model in which observed genetic variation is allowed to affect wealth accumulation through several distinct channels. We focus on genetic markers that predict educational attainment, aggregated into a predictive index called a polygenic...
Persistent link: https://www.econbiz.de/10014030259
Brazilian policy makers and researchers have discussed the introduction of a complementary pension system to complement the Regime Geral de Previdência Social (RGPS), specially for those that want a retirement income above the RGPS ceiling. This article first recommends that the complementary...
Persistent link: https://www.econbiz.de/10014032220
We compare execution quality of six brokerage accounts across five brokers by generating a sample of 85,000 simultaneous market orders. Commission levels and payment for order flow (PFOF) differ across our accounts. We find that execution prices vary significantly across brokers: the mean...
Persistent link: https://www.econbiz.de/10013491790
Firms offering "buy now, pay later" (BNPL) point-of-sale installment loans with minimal underwriting and low interest have captured a growing fraction of the market for short-term unsecured consumer credit. We provide a detailed look into the US BNPL market by constructing a large panel of BNPL...
Persistent link: https://www.econbiz.de/10013492099
We placed over 85,000 retail trades at six retail brokers to validate the Boehmer et al. (2021) algorithm, which uses subpenny trade prices to identify and sign retail trades. The algorithm identifies only 35% of our trades as retail, incorrectly signs 28% of trades, and yields uninformative...
Persistent link: https://www.econbiz.de/10013492248
This letter responds to the U.S. Treasury Department’s request for public comments on President Biden’s Executive Order No. 14067, “Ensuring Responsible Development of Digital Assets” (Mar. 9, 2022). This letter contends that (1) digital stablecoins currently pose significant risks to...
Persistent link: https://www.econbiz.de/10013492255
Korean Abstract: 본고는 289명의 북한이탈주민에 대한 설문조사를 통해 북한 소비자의 지급 수단 실태를 정량적으로 분석하였다. 조사결과 2015~2019년 현재 북한 주민들은 소비자 지급수단으로 실물지급수단으로 내화현금,...
Persistent link: https://www.econbiz.de/10013492343
There is ongoing debate as to whether the practice known as “payment for order flow” (PFOF) causes price improvement for retail investors. In this paper, I use a randomized controlled trial to attempt to answer this question and measure the extent of price improvement. The trial involves...
Persistent link: https://www.econbiz.de/10013492626
A commonly-accepted retirement goal for a healthy pension is for it to sustain the relatively higher standard-of-living of the latter part of one’s working life throughout retirement. A recent innovation implemented by Brazil in January 2023 might provide a solution to the pension challenges...
Persistent link: https://www.econbiz.de/10014353729