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Title
Author(s)
Year
Michael Oppenheimer
2017
Michael Oppenheimer June, 2017 With Solomon Hsiang, Robert Kopp, Amir Jina, James Rising, Michael Delgado, Shashank Mohan, D. J. Rasmussen, Robert Muir-Wood, Paul Wilson, Kate Larsen, Trevor Houser: Science, Vol 356, Issue 6345 Climate Change Finance ...
Elke Weber
2017
Knowledge about the existence and source of national differences in willingness to take risks plays a vital role in ensuring successful communication, collaboration, and understanding across countries, from the personal to the organizational and political ...
Uwe Reinhardt
2016
Uwe Reinhardt October, 2016 Journal of the American Medical Association The choice of young people to forgo health insurance combined with the high cost of providing care for the sickest Americans are together generating big losses for insurers ...
2016
We propose a measure for systemic risk, ∆CoVaR, defined as the conditional value at risk (CoVaR) of the financial system conditional on an institution being under distress in excess of the CoVaR conditional on the median state of the institution. Our ...
Alan Blinder
2015
One frequently hears, often as a complaint, about the financial regulatory “pendulum” swinging too far in one direction or the other—from excessively tight regulation to excessively lax, and vice versa. My concern in this paper is precisely with those ...
2015
A theory of money needs a proper place for financial intermediaries. Intermediaries create inside money and their ability to take risks determines the money multiplier. In downturns, intermediaries shrink their lending activity and fire-sell assets. ...
Miguel Centeno
2015
In this article, we discuss the increasing interdependence of societies, focusing specifically on issues of systemic instability and fragility generated by the new and unprecedented level of connectedness and complexity resulting from globalization. We ...
Marc Fleurbaey
2015
The common practice consists in using a unique value of the discount rate for all public investments. Endorsing a social welfare approach to discounting, we show how different public investments should be discounted depending on: the risk on the returns ...
G. John Ikenberry
2015
This book brings together twelve scholars–-six Americans and six Chinese-–to explore the ways America and China think about international order. What are the traditions, historical experiences, and ideologies that each country brings to debates about how ...
Edward Felten
2015
Bitcoin has emerged as the most successful cryptographic currency in history. Within two years of its quiet launch in 2009, Bitcoin grew to comprise billions of dollars of economic value despite only cursory analysis of the system's design. Since ...
2015
This paper reviews some of the most prominent asset price bubbles from the past 400 years and documents how central banks (or other institutions) reacted to those bubbles. The historical evidence suggests that the emergence of bubbles is often preceded or ...
Alan Blinder
2015
This article comes in three parts. Part 1 reviews a few pertinent facts about the stunning economic events that have occurred in the United States (and elsewhere) since 2007. The author chose these particular facts from among many for their relevance to ...
Alan Krueger
2015
The rescue of the US automobile industry amid the 2008-2009 recession and financial crisis was a consequential, controversial, and difficult decision to make at a fraught moment for the US economy. Both of us were involved in the decision process at the ...
Harold James
2015
This paper examines the role of currencies at moments of geopolitical shifts and in particular the “Thucydides dilemma” in which a strong state whose power is perceived as declining might have incentives to use financial power to strike against a weaker ...
Atif Mian
2015
Academic research, government inquiries, and press accounts show extensive mortgage fraud during the housing boom of the mid-2000s. We explore a particular type of mortgage fraud: the overstatement of income on mortgage applications. We define “income ...
2015
This paper develops a dynamic two-country neoclassical stochastic growth model with incomplete markets. Short-term credit flows can be excessive and reverse suddenly. The equilibrium outcome is constrained inefficient due to pecuniary externalities. First ...
Gene Grossman
2015
We study patterns of foreign direct investment (FDI) in a multi-country world economy. We develop a model featuring non-homothetic preferences for quality and monopolistic competition in which specialization is purely demand-driven and the decision to ...
Harold James
2014
With present concerns over the regulation of the banking industry continuing to make headlines, an examination of the historiography of financial crises is timely. With contributions from world-renowned figures such as Niall Ferguson, Adair Turner and ...
Edward Felten
2014
We propose Mixcoin, a protocol to facilitate anonymous payments in Bitcoin and similar cryptocurrencies. We build on the emergent phenomenon of currency mixes, adding an accountability mechanism to expose theft. We demonstrate that incentives of mixes and ...
2014
Financial institutions may be vulnerable to predatory short selling. When the stock of a financial institution is shorted aggressively, leverage constraints imposed by short-term creditors can force the institution to liquidate long-term investments at ...

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