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And the award for ‘most dangerous politician in my lifetime’ goes to …
Published: 3/12/2019He’s maybe the most dangerous politician of my lifetime. He’s helped transform the Republican Party into a cult, worshiping at the altar of authoritarianism. He’s damaged our country in ways that may ... Read moreSource: blogs.berkeley.edu -
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5G hype vs. reality: how policymakers can harness its benefits
Published: 2/12/2019For some, 5G is a miracle network that will bring the internet’s speed, abundance, and possibility out of our pockets and throughout our physical world. For others, it’s the next nationa ... Read moreSource: blogs.berkeley.edu -
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Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress -- by Zhiguo He, Paymon Khorrami, Zhaogang Song
Published: 26/11/2019Two intermediary-based factors - a broad financial distress measure and a dealer corporate bond inventory measure - explain about 50% of the puzzling common variation of credit spread changes beyond c ... Read moreSource: papers.nber.org
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Does Stock Market Listing Impact Investment in Japan? -- by Joseph J. French, Ryosuke Fujitani, Yukihiro Yasuda
Published: 26/11/2019We provide the first large sample comparison of investment by Japanese listed and unlisted public firms. We show that listed firms invest more and have greater sensitivity to investment opportunities ... Read moreSource: papers.nber.org -
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Inflation Dynamics: Dead, Dormant, or Determined Abroad? -- by Kristin Forbes
Published: 26/11/2019Inflation dynamics have been difficult to explain over the last decade. This paper explores if a more comprehensive treatment of globalization can help. CPI inflation has become more synchronized arou ... Read moreSource: papers.nber.org -
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Stranded Fossil Fuel Reserves and Firm Value -- by Christina Atanasova, Eduardo S. Schwartz
Published: 26/11/2019Do capital markets reflect the possibility that fossil fuel reserves may become “stranded assets” in the transition to a low carbon economy? We examine the relation between oil firms’ value and their ... Read moreSource: papers.nber.org
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Capital Controls: Theory and Evidence -- by Bilge Erten, Anton Korinek, Jose Antonio Ocampo
Published: 26/11/2019This paper synthesizes recent advances in the theoretical and empirical literature on capital controls. We start by observing that international capital flows have both benefits and costs, but some of ... Read moreSource: papers.nber.org -
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Choosing Racial Identity in the United States, 1880-1940 -- by Ricardo Dahis, Emily Nix, Nancy Qian
Published: 26/11/2019This paper documents that many black males experienced a change in racial classification to white in the United States, 1880 – 1940, while changes in racial classification were negligible for other ra ... Read moreSource: papers.nber.org -
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Does Electricity Drive Structural Transformation? Evidence from the United States -- by Paul Gaggl, Rowena Gray, Ioana Marinescu, Miguel Morin
Published: 26/11/2019Electricity is a general purpose technology and the catalyst for the second industrial revolution. Developing countries are currently making huge investments in electrification, with a view to achievi ... Read moreSource: papers.nber.org
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Teacher Effects on Student Achievement and Height: A Cautionary Tale -- by Marianne Bitler, Sean Corcoran, Thurston Domina, Emily Penner
Published: 26/11/2019Estimates of teacher “value-added” suggest teachers vary substantially in their ability to promote student learning. Prompted by this finding, many states and school districts have adopted value-added ... Read moreSource: papers.nber.org -
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The Impact of the General Data Protection Regulation on Internet Interconnection -- by Ran Zhuo, Bradley Huffaker, kc claffy, Shane Greenstein
Published: 26/11/2019The Internet comprises thousands of independently operated networks, where bilaterally negotiated interconnection agreements determine the flow of data between networks. The European Union’s General D ... Read moreSource: papers.nber.org -
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The Intellectual Spoils of War? Defense R&D, Productivity and International Spillovers -- by Enrico Moretti, Claudia Steinwender, John Van Reenen
Published: 26/11/2019In the US and many other OECD countries, expenditures for defense-related R&D represent a key policy channel through which governments shape innovation, and dwarf all other public subsidies for innova ... Read moreSource: papers.nber.org
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The Specialness of Zero -- by Joshua S. Gans
Published: 26/11/2019A model is provided whereby a monopolist firm chooses to price its product at zero. This outcome is shown to be driven by the assumption of ‘free disposal’ alongside selection markets (where prices im ... Read moreSource: papers.nber.org -
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Financing Entrepreneurship through the Tax Code: Angel Investor Tax Credits -- by Sabrina T. Howell, Filippo Mezzanotti
Published: 26/11/2019A central issue in public finance is the tradeoff between maintaining tax revenues and using the tax code to incentivize particular economic activities. One important dimension of this tradeoff is whe ... Read moreSource: papers.nber.org -
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Racial Disparities in Voting Wait Times: Evidence from Smartphone Data -- by M. Keith Chen, Kareem Haggag, Devin G. Pope, Ryne Rohla
Published: 26/11/2019Equal access to voting is a core feature of democratic government. Using data from millions of smartphone users, we quantify a racial disparity in voting wait times across a nationwide sample of polli ... Read moreSource: papers.nber.org
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Driving Behavior and the Price of Gasoline: Evidence from Fueling-Level Micro Data -- by Christopher R. Knittel, Shinsuke Tanaka
Published: 26/11/2019We use novel microdata on on-road fuel consumption and prices paid for fuel in Japan to estimate short-run price elasticities of demand for gasoline consumption. We have three main findings. First, ou ... Read moreSource: papers.nber.org -
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Spillover Effects of IP Protection in the Inter-war Aircraft Industry -- by Walker Hanlon, Taylor Jaworski
Published: 26/11/2019Can granting IP protection to producers of one good affect the innovation rate in other related goods? To answer this question we exploit a unique policy experiment in the inter-war military aircraft ... Read moreSource: papers.nber.org -
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The Effects of Foreign-Born Peers in US High Schools and Middle Schools -- by Jason Fletcher, Jinho Kim, Jenna Nobles, Stephen Ross, Irina Shaorshadze
Published: 26/11/2019The multi-decade growth and spatial dispersion of immigrant families in the United States has shifted the composition of US schools, reshaping the group of peers with whom students age through adolesc ... Read moreSource: papers.nber.org
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Estimating The Anomaly Base Rate -- by Alexander M. Chinco, Andreas Neuhierl, Michael Weber
Published: 26/11/2019The academic literature literally contains hundreds of variables that seem to predict the cross-section of expected returns. This so-called "anomaly zoo" has caused many to question whether researcher ... Read moreSource: papers.nber.org -
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Instead of compensating for inequalities, liberals should reshape the markets
Published: 25/11/2019For decades, liberals have called for government action to correct the excesses of the free market: progressive taxation; public health insurance; unemployment insurance; Social Security; and health, ... Read moreSource: blogs.berkeley.edu -
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The bizarre smear against impeachment witness Lt. Col. Alexander Vindman
Published: 25/11/2019Now that the impeachment hearings are over, at least for the foreseeable future, I have been reflecting on the curious behaviors of the minority members of the House Intelligence Committee. Two stand ... Read moreSource: blogs.berkeley.edu
