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Intergenerational mobility in professions

September 2, 2018 Bilal 0

Intergenerational mobility in professions https://ift.tt/2MyQlka Intergenerational mobility in professions: Nature, nurture, and regulatory rents The extent and nature of the relationship between individual socioeconomic status and family background of origin are of long-standing interest in the social sciences and public policy (Black and Devereux 2011, Corak 2013). A growing number of studies also document persistence within specific occupations, particularly among liberal professions (Aina and Nicoletti 2018). When examining the causal mechanisms, the literature has been largely dominated by the debate on the relative importance of an individual’s innate qualities versus environmental factors – i.e. ‘nature versus nurture’ (Sacerdote 2011). Surprisingly, […]

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Enterprise Without Entities

September 2, 2018 Bilal 0

Enterprise Without Entities https://ift.tt/2oxS4sF Publish via University of Michigan Law School Scholarship Repository August 26, 2018 at 02:15PM https://ift.tt/2oxS4sF

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Universal Basic Incomes vs. Targeted Transfers: Anti-Poverty Programs in Developing Countries — by Rema Hanna, Benjamin A. Olken

September 2, 2018 Bilal 0

Universal Basic Incomes vs. Targeted Transfers: Anti-Poverty Programs in Developing Countries — by Rema Hanna, Benjamin A. Olken https://ift.tt/2BSv552 Universal Basic Incomes vs. Targeted Transfers: Anti-Poverty Programs in Developing Countries NBER Working Paper No. 24939 Issued in August 2018 NBER Program(s):Development Economics, Public Economics Developing country governments are increasingly implementing cash assistance programs to combat poverty and inequality. This paper examines the potential tradeoffs between targeting these transfers towards low income households versus providing universal cash transfers, also known as a Universal Basic Income. We start by discussing how the fact that most households in poor countries do not pay […]

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Econographics — by Jonathan Chapman, Mark Dean, Pietro Ortoleva, Erik Snowberg, Colin Camerer

September 2, 2018 Bilal 0

Econographics — by Jonathan Chapman, Mark Dean, Pietro Ortoleva, Erik Snowberg, Colin Camerer https://ift.tt/2wgR7t1 Econographics NBER Working Paper No. 24931 Issued in August 2018 NBER Program(s):Development Economics, Law and Economics, Public Economics, Political Economy We study the pattern of correlations across a large number of behavioral regularities, with the goal of creating an empirical basis for more comprehensive theories of decision-making. We elicit 21 behaviors using an incentivized survey on a representative sample (n=1,000) of the U.S. population. Our data show a clear and relatively simple structure underlying the correlations between these measures. Using principal components analysis, we reduce the […]

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Is Europe Making Plans For A New World Order?

September 2, 2018 Bilal 0

Is Europe Making Plans For A New World Order? https://ift.tt/2w6uMOM Authored by German foreign minister Heiko Maas, op-ed via Handelsblatt Global, Europe’s relationship with the US was changing even before Donald Trump and his provocative Tweets came along. Germany now sees the current trans-Atlantic antipathy as a historic opportunity to redefine the EU’s role… Henry Kissinger was recently asked if Donald Trump could not unintentionally become the force behind the birth of a new western order. His answer: It would be ironic but not impossible. Instead of narrowing our view across the Atlantic to the ever-changing whims of the American […]

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Valuation vs. Momentum Investing

September 2, 2018 Bilal 0

Valuation vs. Momentum Investing https://ift.tt/2C2DXoH Bill Spitz (who is known to the readers of this blog for his prescient calls in the past, As Risk Increases, Spreads Widen) has written another gem documenting the "manias" leading up to the current market.  Students will learn something about about two strategies for investing:  Valuation (long run) vs. Momentum (short run).  Here is the bottom line advice: There are widely accepted and time tested methods of forecasting returns on various asset classes.  While we work very hard at refining the inputs to the process, you should understand that they vary considerably over time rendering […]

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Predictable movements in asset prices around FOMC meetings

September 2, 2018 Bilal 0

Predictable movements in asset prices around FOMC meetings https://ift.tt/2C1y8Yu The real effects of monetary policy are still heavily debated because monetary policy affects real quantities, such as employment or GDP growth, with a delay. For this reason, to understand the transmission mechanisms of monetary policy, researchers have studied the response of financial markets in narrow windows around monetary policy actions.  Monetary policy has large and immediate effects on stock markets. Bernanke and Kuttner (2005) show that a contractionary monetary policy shock of 25 basis points created a drop in broad stock indices of more than 1 percentage point within minutes […]

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Japanese markets in everything

September 2, 2018 Bilal 0

Japanese markets in everything https://ift.tt/2BYCiAx Stressed out, overworked, or just over it: Workers in Japan who want to leave their jobs — but don’t want to face the stress of quitting in person — are paying a company called Exit to tell their bosses that they won’t be back. People hoping to never set foot in their workplace again pay Exit $450 to help them quit their full-time jobs; those who have had it with part-time work can pay around $360. And as Alex Martin reports for Japan Times, “Repeat clients get a [$90] discount.” Here is the full NPR story, via Andrea […]

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Air Conditioning: Problem, Solution, Problem, Solution (?)

September 2, 2018 Bilal 0

Air Conditioning: Problem, Solution, Problem, Solution (?) https://ift.tt/2PkiTMf Problem: Many places of planet Earth are so hot, at least during significant portions of the year, that it has adverse effects on human health and productivity. Solution: Air conditioning! Problem:  The dramatic expansion of expansion of air conditioning all around the world raises demand for electricity. Generating electricity is often done with fossil fuels, which (especially in emerging markets where emissions standards are often more lax) can generate conventional air pollutants, and which in all markets add to carbon dioxide in the atmosphere. In addition, common methods of air conditioning also […]