Too-Big-To-Fail Before the Fed -- by Gary Gorton, Ellis W. Tallman
"Too-big-to-fail" is consistent with policies followed by private bank clearing houses during financial crises in the U.S. National Banking Era prior to the existence of the Federal Reserve System....
View ArticleSufficient Statistics for Imperfect Externality-Correcting Policies -- by...
Pigouvian taxes can fully correct for market failures due to externalities, but actual policies are commonly forced to deviate from the Pigouvian ideal due to administrative or political constraints....
View ArticleQuantitative Models of Commercial Policy -- by Ralph Ossa
What tariffs would countries impose if they did not have to fear any retaliation? What would occur if there was a complete breakdown of trade policy cooperation? What would be the outcome if countries...
View ArticleDecentralized Governance and the Quality of School Leadership -- by Derek...
In response to widespread dissatisfaction with the schools, the 1988 Chicago School Reform Act decentralized school governance by forming elected local school councils (LSCs) responsible for principal...
View ArticleSome Theoretical Connections Among Wealth, Income, Sustainability, and...
In theory, and under some quite strong assumptions, there exists an important rigorous quantitative relationship among the following four fundamental economic concepts: (1) "wealth"; (2) "income"; (3)...
View ArticleFiscal and Financial Crises -- by Michael D. Bordo, Christopher M. Meissner
Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics towards modern banking crises where financial guarantees...
View ArticleThe Macroeconomic Impact of Financial and Uncertainty Shocks -- by Dario...
The extraordinary events surrounding the Great Recession have cast a considerable doubt on the traditional sources of macroeconomic instability. In their place, economists have singled out financial...
View ArticleUniversity Innovation and the Professor's Privilege -- by Hans K. Hvide,...
National policies take varied approaches to encouraging university-based innovation. This paper studies a natural experiment: the end of the "professor's privilege" in Norway, where university...
View ArticleA Market Based Solution for Fire Sales and Other Pecuniary Externalities --...
We show how bundling, exclusivity and additional markets internalize fire sale and other pecuniary externalities. Ex ante competition can achieve a constrained efficient allocation. The solution can be...
View ArticleThe Limits of Propaganda: Evidence from Chavez's Venezuela -- by Brian...
In this paper, we investigate viewer responses to changes in the ideological content of television programming using variation induced by cadenas, unannounced takeovers of the public television...
View ArticleTeacher Applicant Hiring and Teacher Performance: Evidence from DC Public...
Selecting more effective teachers among job applicants during the hiring process could be a highly cost-effective means of improving educational quality, but there is little research that links...
View ArticleLiquidity Requirements, Liquidity Choice and Financial Stability -- by...
We study a modification of the Diamond and Dybvig (1983) model in which the bank may hold a liquid asset, some depositors see sunspots that could lead them to run, and all depositors have incomplete...
View ArticleEffects of Welfare Reform on Women's Voting Participation -- by Dhaval M....
Voting is an important form of civic participation in democratic societies but a fundamental right that many citizens do not exercise. This study investigates the effects of welfare reform in the U.S....
View ArticleKeynote Remarks of Chairman Timothy Massad before the Institute of...
Keynote Remarks of Chairman Timothy Massad before the Institute of International Bankers Annual Washington Conference
View ArticleSWIFT And The Canadian Payments Association Examine Canadaâs Adoption...
SWIFT and the Canadian Payments Association (CPA) announce the release of a new information paper that outlines the adoption approach for ISO 20022 within the Canadian payments landscape.read more...
View ArticleCourt or Department of Labor Oversight Required for Fair Labor Standards Act...
Laws involving the Fair Labor Standards Act (FLSA) are constantly evolving. It may be difficult for employers to stay abreast of all these changes and ultimately resolve lawsuits that arise.read more...
View Articlehttps://t.co/VpLyIqSjJh
The bank that fintech built: Number26 and TransferWise team up to re-invent banking https://t.co/VpLyIqSjJh â moneyscience (@moneyscience) March 4, 2016
View ArticleWhat Happened At The Satoshi Roundtable
Behind the scenes at the #bitcoin Satoshi Roundtable - important info for BC enthusiasts https://t.co/ANulz1FEUu â moneyscience (@moneyscience) March 5, 2016
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