Impacts on the probability of transition to entrepreneurship in rural China associated with the utilization of information communication technology (ICT) are estimated using longitudinal data from the China Family Panel Studies (CFPS) survey. We identify cell phone ownership and internet use as...

What is the appropriate inflation target for a currency union, when conducting monetary policy: core inflation or headline inflation? We answer the question in a two-country New Keynesian model with an energy sector. We derive the welfare loss function and find that optimal monetary policy...

AbstractThe Effect of Investor Relations on Income Objectives andMeeting ExpectationsBy: Marcus KirkOver a quarter of publicly listed firms employ National InvestorRelationsInstitute (NIRI) members. Yet we know little about the impact ofinvestor relations (IR)for these firms. I examine the role...

We model hierarchical cascades of failures among banks linked through an interdependent network. The interaction among banks include not only direct cross-holding, but also indirect dependency by holding mutual assets outside the banking system. Using data extracted from the European Banking...