What do we know about the effects of Austerity? -- by Alberto F. Alesina,...
This paper summarizes the results of a large recent literature on multi year fiscal plans for deficit reduction (austerity). The key results are that deficit reduction policies based upon spending cuts...
View ArticleAI as the next GPT: a Political-Economy Perspective -- by Manuel Trajtenberg
History suggests that dismal prophecies regarding the impact of great technological advances rarely come to pass. Yet, as many occupations will indeed vanish with the advent of AI as the new General...
View ArticleUnconventional Fiscal Policy -- by Francesco D'Acunto, Daniel Hoang, Michael...
Unconventional fiscal policy uses announcements of future increases in consumption taxes to generate inflation expectations and accelerate consumption expenditure. It is budget neutral and time...
View ArticlePrediction, Judgment and Complexity -- by Ajay K. Agrawal, Joshua S. Gans,...
We interpret recent developments in the field of artificial intelligence (AI) as improvements in prediction technology. In this paper, we explore the consequences of improved prediction in...
View ArticleMarket Structure in Bitcoin Mining -- by June Ma, Joshua S. Gans, Rabee Tourky
We analyze the Bitcoin protocol for electronic peer-to-peer payments and the operations that support the "blockchain" that underpins it. It is shown that that protocol maps formally into a dynamic game...
View ArticleFinancial Constraints, Institutions, and Foreign Ownership -- by Ron Alquist,...
This paper examines how external finance dependence, financial development, and institutions influence brownfield foreign direct investment (FDI). We develop a model of cross-border acquisitions in...
View ArticleHigh-Priced Drugs in Medicare Part D: Diagnosis and Potential Prescription --...
Drug pricing in the U.S. is a persistently vexing policy problem. While there is agreement among many policy analysts that supra competitive prices are necessary to promote innovation; significant...
View ArticleIOHK | Symphony of the BlockchainIOHK | Symphony of the Blockchain
The Symphony of Blockchain is an interactive, visual and auditory exploration of Bitcoin, cryptocurrency and the blockchain. It is an ongoing research initiative with a singular aim: to help bring...
View ArticleWeekly Top 5 Papers – January 29, 2018
1. Do Alpha Males Deliver Alpha? Testosterone and Hedge Funds by Yan Lu (University of Central Florida-Department of Finance) and Melvyn Teo (Singapore Management University – Lee Kong Chian School...
View ArticleSan Francisco Blockchain Startups Partner on Decentralized Insurance
Two San Francisco blockchain startups are teaming up, including one that is aiming to create a kind of decentralized Airbnb.
View ArticleA Little Lightning Project Has Two Big Implications for Bitcoin's Tech
A small Japanese startup is paving the way in ideating how bitcoin's experimental Lightning network could take shape on two fronts.
View ArticleWEF Trials Blockchain in Bid to Boost Air Travel Security
The World Economic Forum is working with the Canadian and Dutch governments to pilot a digital identity project that focuses in part on blockchain.
View ArticleGoogle's DoubleClick Ads Used to Distribute Crypto Mining Malware
Security firm TrendMicro stated in a new report that Google's DoubleClick ad services were used to distribute cryptocurrency mining malware.
View ArticleRemarks of Commissioner Brian Quintenz before the Commodity Markets Council...
Remarks of Commissioner Brian Quintenz before the Commodity Markets Council State of the Industry 2018 Conference Drawing without an Eraser
View ArticleMoment Explosions in the Rough Heston Model. (arXiv:1801.09458v1 [q-fin.MF])
We show that the moment explosion time in the rough Heston model [El Euch, Rosenbaum 2016, arxiv:1609.02108] is finite if and only if it is finite for the classical Heston model. Upper and lower bounds...
View ArticleFirst Passage Time for Tempered Stable Process and Its Application to...
In this paper, we will discuss an approximation of the characteristic function of the first passage time for a Levy process using the martingale approach. The characteristic function of the first...
View ArticleA representative agent model based on risk-neutral prices....
In this paper, we determine a representative agent model based on risk-neutral information. The main idea is that the pricing kernel is transition independent, which is supported by the well-known...
View ArticleOn a capital allocation principle coherent with the Solvency 2 standard...
Solvency II Directive 2009/138/EC requires an insurance and reinsurance undertakings assessment of a Solvency Capital Requirement by means of the so-called "Standard Formula" or by means of partial or...
View ArticleThe Real Reason why I'm HereThe Real Reason why I'm Here
I'm in San Fran ! https://t.me/Boxdatamining
View ArticleNZX Annual 2017 Operational & Regulation Metrics
Please find attached NZX annual operational and regulation metrics for 2017.read more...
View Article