Showing 1 - 10 of 48
We study a search and bargaining model of an asset market, where investors’ heterogeneous valuations for the asset are drawn from an arbitrary distribution. Our solution technique renders the analysis fully tractable and allows us to provide a full characterization of the equilibrium, in...
Persistent link: https://www.econbiz.de/10011098936
Popular discussions often treat the great housing boom of the 1996-2006 period as if it were a national phenomenon with similar impacts across locales, but across metropolitan areas, price growth was dramatically higher in warmer, less educated cities with less initial density and higher initial...
Persistent link: https://www.econbiz.de/10011188561
In a model of evolution driven by conflict between societies more powerful states have an advantage. When the influence of outsiders is small we show that this results in a tendency to hegemony. In a simple example in which institutions differ in their "exclusiveness" we find that these...
Persistent link: https://www.econbiz.de/10010950707
We analyze the effectiveness of consumer financial regulation by considering the 2009 Credit Card Accountability Responsibility and Disclosure (CARD) Act in the United States. Using a difference-in- differences research design and a unique panel data set covering over 160 million credit card...
Persistent link: https://www.econbiz.de/10010951059
. The primary cost of booms has not typically been overbuilding, but rather the financial chaos that accompanies housing …
Persistent link: https://www.econbiz.de/10010951074
We analyze how admission policies affect stereotypes against students from disadvantaged groups. Many critics of affirmative action argue that lower admission standards cause such stereotypes and suggest group-blind admissions as a remedy. We show that when stereotypes result from social...
Persistent link: https://www.econbiz.de/10010951076
(k) enrollment rates. We study a low-cost manipulation designed to simplify the 401(k) enrollment process. Employees are …
Persistent link: https://www.econbiz.de/10005036804
There is a strong connection between per worker productivity and metropolitan area population, which is commonly interpreted as evidence for the existence of agglomeration economies. This correlation is particularly strong in cities with higher levels of skill and virtually non-existent in less...
Persistent link: https://www.econbiz.de/10005036817
Buenos Aires and Chicago grew during the nineteenth century for remarkably similar reasons. Both cities were conduits for moving meat and grain from fertile hinterlands to eastern markets. However, despite their initial similarities, Chicago was vastly more prosperous for most of the 20th...
Persistent link: https://www.econbiz.de/10005036820
Does media bias affect voting? We address this question by looking at the entry of Fox News in cable markets and its impact on voting. Between October 1996 and November 2000, the conservative Fox News Channel was introduced in the cable programming of 20 percent of US towns. Fox News...
Persistent link: https://www.econbiz.de/10005040663