Given the global dominance of American movies, they play a significant role in presenting U.S. ideology and culture to the world, thus raising concern of undermining domestic culture. This paper investigates whether trade shapes culture by studying the impact of imported American movies on...

We focus on two particular aspects of model risk: the inability of a chosen model to fit observed market prices at a given point in time (calibration error) and the model risk due to the recalibration of model parameters (in contradiction to the model assumptions). In this context, we use...

When the nominal interest rate reaches the zero lower bound (ZLB), a conventional monetary policy, namely, the adjustment of short-term interest rate, may become impractical and ineffective for central banks. Therefore, quantitative easing (QE) is one of the few available policy options of...

In recent years, the concurrent occurrences of the COVID-19 pandemic and the Russian invasion of Ukraine have led to global disruptions in supply chains and a surge in commodity prices. Major advanced economies have experienced an increase in inflation rates and a decline in economic activity....

Abstract The 2010 Affordable Care Act expanded Medicaid eligibility to states’ residents with incomes below the federal poverty line, creating both opportunities and challenges to hospitals in states that adopted the new Medicaid eligibility. This article explores the effect of Medicaid...