综合经济学
As the United States is witnessing elevated racial differences pertaining to economic disparities, we have found a unique example contrary to the traditional narrative. Idaho is the only US state where Blacks earn more than Whites and all…
Using a combination of incentive modeling and empirical meta-analyses, this paper provides a pointed critique at the incentive systems that drive venture capital firms to optimize their practices towards activities that increase General…
We extract cyclic information in turnover and find it can explain the momentum echo. The reversal in recent month momentum is the key factor that cancels out the recent month momentum and excluding it makes the echo regress to a damped…
The scale and terms of aggregate borrowing in an economy depend on the manner in which wealth is distributed across potential creditors with heterogeneous beliefs about the future. This distribution evolves over time as uncertainty is…
The existing buildings and building construction sectors together are responsible for over one-third of the total global energy consumption and nearly 40% of total greenhouse gas (GHG) emissions. GHG emissions from the building sector are…
March 2020 confinement has shot Portuguese savings to historic levels, reaching 13.4% of gross disposable income in early 2021 (INE, 2023). To find similar savings figures we need to go back to 1999. With consumption reduced to a bare…
This paper investigates the inter-regional intra-industry disparity within selected Indian manufacturing industries and industrial states. The study uses three measures - the Output-Capital Ratio, the Capital-Labor Ratio, and the…
A fundemantal and unanswered question for the widely shared goal of electrifying passenger vehicles is how the price of electricity, which can vary greatly across countries and regions, affects buying behavior. I make use of a natural…
A consumer who wants to consume a good in a particular period may nevertheless attempt to buy it earlier if he is concerned that in delaying he would find the good already sold. This paper considers a model in which the good may be offered…
This paper investigates whether ideological indoctrination by living in a communist regime relates to low economic performance in a market economy. We recruit North Korean refugees and measure their implicit bias against South Korea by…
This paper studies the extent to which the cyclicality of occupational mobility shapes that of aggregate unemployment and its duration distribution. We document the relation between workers' occupational mobility and unemployment duration…
Purpose: The objective of this research was to show the response of the potential reduction of excess capacity in terms of capital intensity to the growth rate of labor productivity in the manufacturing industrial sector.…
Building energy retrofits have been identified as key to realizing climate mitigation goals in Canada. This study aims to provide a roadmap for existing mid-rise building retrofits in order to understand the required capital investment,…
There is a large consensus on the fundamental role of firm-level supply chain networks in macroeconomics. However, data on supply chains at the fine-grained, firm level are scarce and frequently incomplete. For listed firms, some commercial…
I present a structural empirical model of a one-sided one-to-many matching with complementarities to quantify the effect of subsidy design on endogenous merger matching. I investigate shipping mergers and consolidations in Japan in 1964. At…
When land becomes more connected, its value can change because of network externalities. This idea is intuitive and appealing to developers and policymakers, but documenting their importance is empirically challenging because it is…
The study was designed to determine the entrepreneurial capability and engagement of persons with disabilities toward a framework for inclusive entrepreneurship. The researcher used descriptive and correlational approaches through purposive…
Using administrative data on Taiwanese lottery winners, this paper examines the effects of cash windfalls on entrepreneurship. We compare the start-up decisions of households winning more than 1.5 million NTD (50,000 USD) in the lottery in…
Transforming food systems is essential to bring about a healthier, equitable, sustainable, and resilient future, including achieving global development and sustainability goals. To date, no comprehensive framework exists to track food…
We model incentive security in non-custodial stablecoins and derive conditions for participation in a stablecoin system across risk absorbers (vaults/CDPs) and holders of governance tokens. We apply option pricing theory to derive closed…