The Saudi Stock Exchange (Tadawul) Announces The Quarterly Update (1st...
The Saudi Stock Exchange (Tadawul) announces that the number of free float shares for all companies have been revised for the 1st quarter 2016 (07/04/2016). The revised number of free float shares per...
View ArticleThe Saudi Stock Exchange (Tadawul) Announces That Alandalus Property Co. Has...
The Saudi Stock Exchange (Tadawul) announces that Alandalus Property Co. has been included to Tadawul All Share Index (TASI) and the Real Estate Development sector index as the stock close price on...
View ArticleThe Saudi Stock Exchange Announces The Publication Of The Weekly Stock Market...
The total value of shares traded for the week ending 7 April 2016 amounted to SAR 22.90 billion, decreasing by 23.39% over the previous week; while total stock market capitalization reached SAR...
View ArticleThe Causes and Consequences of Test Score Manipulation: Evidence from the New...
In this paper, we show that the design and decentralized, school-based scoring of New York's high school exit exams - the Regents Examinations - led to the systematic manipulation of test sores just...
View ArticleThe Effect of Aid on Growth: Evidence from a Quasi-Experiment -- by Sebastian...
The literature on aid and growth has not found a convincing instrumental variable to identify the causal effects of aid. This paper exploits an instrumental variable based on the fact that since 1987,...
View ArticleThe Limited Macroeconomic Effects of Unemployment Benefit Extensions -- by...
By how much does an extension of unemployment benefits affect macroeconomic outcomes such as unemployment? Answering this question is challenging because U.S. law extends benefits for states...
View ArticleTerm Structures of Asset Prices and Returns -- by David Backus, Nina...
We explore the term structures of claims to a variety of cash flows: US government bonds (claims to dollars), foreign government bonds (claims to foreign currency), inflation-adjusted bonds (claims to...
View ArticleCoordinated Noise Trading: Evidence from Pension Fund Reallocations -- by Zhi...
We document a novel channel through which coordinated noise trading exerts externalities on financial markets dominated by institutional investors. We exploit a unique set of events where Chilean...
View ArticleThe Impact of Innovation in the Multinational Firm -- by L. Kamran Bilir,...
When firms operate production plants in multiple countries, technological improvements developed in one country may be shared with firm sites abroad for efficiency gain. We develop a dynamic model that...
View ArticleTemporary Migration and Endogenous Risk Sharing in Village India -- by...
When people can self-insure via migration, they may have less need for informal risk sharing. At the same time, informal insurance may reduce the need to migrate. To understand the joint determination...
View ArticlePaving the Way to Development: Costly Migration and Labor Market Integration...
How integrated are labor markets within a country? Labor mobility is key to the integration of local labor markets and therefore to understanding the efficacy of policies to reduce regional inequality....
View ArticleCan Currency Competition Work? -- by Jesus Fernandez-Villaverde, Daniel Sanches
Can competition among privately issued fiat currencies such as Bitcoin or Ethereum work? Only sometimes. To show this, we build a model of competition among privately issued fiat currencies. We modify...
View ArticleOptimal Contracting with Subjective Evaluation: The Effects of Timing,...
We introduce a general Principal-Agent model with subjective evaluation and malfeasance characterized by two-sided asymmetric information on performance that allows for an arbitrary information...
View ArticleCanary in a Coal Mine: Infant Mortality, Property Values, and Tradeoffs...
Pollution is a common byproduct of economic activity. Although policymakers should account for both the benefits and the negative externalities of polluting activities, it is difficult to identify...
View ArticleDifferences in Quarterly Utilization-Adjusted TFP by Vintage, with an...
This paper documents large differences across vintages in the properties of the widely-used quarterly utilization-adjusted TFP series produced by Fernald (2014), who provides updated data each quarter...
View ArticleCorporate Resilience to Banking Crises: The Roles of Trust and Trade Credit...
Are firms more resilient to systemic banking crises in economies with higher levels of social trust? Using firm-level data in 34 countries from 1990 through 2011, we find that liquidity-dependent firms...
View ArticleThe Deposits Channel of Monetary Policy -- by Itamar Drechsler, Alexi Savov,...
We propose and test a new channel for the transmission of monetary policy. We show that when the Fed funds rate increases, banks widen the interest spreads they charge on deposits, and deposits flow...
View ArticleLearning, Career Paths, and the Distribution of Wages -- by Santiago Caicedo,...
We develop a theory of career paths and earnings in an economy in which agents organize in production hierarchies. Agents climb these organizational hierarchies as they learn stochastically from other...
View ArticleLevered Returns -- by Ivo Welch
Do financial markets properly reflect leverage? Unlike Gomes and Schmid (2010) who examine this question with a structural approach (using long-term monthly stock characteristics), my paper examines it...
View ArticleFaculty Preferences over Unionization: Evidence from Open Letters at Two...
What determines employee preferences for unionizing their workplaces? A substantial literature addresses this question with surveys on worker attitudes and pay. Unionization drives at the Universities...
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