Geography and Agricultural Productivity: Cross-Country Evidence from Micro...
Why is agricultural productivity so low in poor countries relative to the rest of the world? Is it due to geography or constrained economic choices? We assess the quantitative role of geography and...
View ArticleThe Elasticity of Taxable Income in the Presence of Intertemporal Income...
Knowing the elasticity of taxable income (ETI) is crucial for understanding the effects of taxation on taxpayer behavior and consequently on tax revenues. Previous research finds that high-income...
View ArticleThe Production of Inequalities within Families and Across Generations: The...
There has long been interest in the extent to which effects of social stratification extend and persist across generations. We take a novel approach to this question by asking whether birth order and...
View ArticleA Measure of Risk Appetite for the Macroeconomy -- by Carolin Pflueger, Emil...
We document a strong and robust positive relationship between real rates and the contemporaneous valuation of volatile stocks, which we contend measures the economy's risk appetite. Our novel proxy for...
View ArticleDo Opioids Help Injured Workers Recover and Get Back to Work? The Impact of...
We estimate the effect of opioid prescriptions on the duration of temporary disability benefits among workers with work-related low back injuries. We use local opioid prescribing patterns to construct...
View ArticleEscaping Import Competition and Downstream Tariffs -- by Ana Cecilia Fieler,...
We propose and provide evidence for a new source of gains from trade: Firms invest in product differentiation to escape import competition. In the data and in the model, these investments are...
View ArticleHow Redeployable are Patent Assets? Evidence from Failed Startups -- by...
Entrepreneurial firms are important sources of patented inventions. Yet little is known about what happens to patents "released" to the market when startups fail. This study provides a first look at...
View ArticleIndivisibilities in Distribution -- by Thomas J. Holmes, Ethan Singer
This paper develops and estimates a model of indivisibilities in shipping and economies of scale in consolidation. It uses highly detailed data on imports for which it is possible to observe the...
View ArticleThe Production of Cognitive and Non-cognitive Human Capital in the Global...
A country's welfare depends on its ability to accumulate cognitive and noncognitive human capital. However, we do not fully understand what makes some countries successful at producing human capital...
View ArticleCost of Experimentation and the Evolution of Venture Capital -- by Michael...
We study how technological shocks to the cost of starting new businesses have led the venture capital model to adapt in fundamental ways over the prior decade. We both document and provide a framework...
View ArticleOptimal Taxation and Debt Management without Commitment -- by Davide...
This paper considers optimal fiscal policy in a deterministic Lucas and Stokey (1983) economy in the absence of government commitment. In every period, the government chooses a labor income tax and...
View ArticleCrypto Exchanges Pause Services Over Contract Bugs
A pair recently-published bugs allow an attacker to create an inordinate number of ERC-20 tokens
View ArticleNasdaq 'Would Consider' Creating a Crypto Exchange, Says CEO
The CEO of Nasdaq suggested Wednesday that the company could open a cryptocurrency exchange in the future.
View ArticleUS Congressman: 'Race to Regulate' Won't Solve Crypto Fraud
While fraud and 'bad actors' are a concern in the crypto industry, US Rep. Patrick McHenry says Congress should not rush to regulate.
View ArticleCisco Claims New Patent Could Apply to Bitcoin Mining
A Cisco patent suggests that internet customers would be able to create a distributed mining pool through a proprietary cloud application.
View ArticleDigital Currency Group Adds Zcash Offshoot ZenCash to Crypto Investment List
The fork of a fork of zcash made it onto Digital Currency Group's "conviction list."
View ArticleFitch Ratings: Blockchain Is a Potential 'Game-Changer' for Insurers
Fitch Ratings published a report Wednesday noting that blockchain can be a long-term solution to issues facing the insurance industry today.
View ArticleCrypto Exchange Gemini to Monitor Trading Using Nasdaq Tech
Gemini plans to monitor its exchange for potential illicit activities using Nasdaq's SMARTS Market Surveillance technology.
View ArticleThe 17 Millionth Bitcoin Is About to Be Mined: What It Means and Why It Matters
17 million done, four million to go.
View ArticleSBI Backs Token Exchange Templum's $10 Million Funding Round
Japanese investment giant SBI Holdings has added an initial coin offering (ICO) platform startup to its cryptocurrency portfolio company.
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