综合经济学
In this paper, I revisit Phillips, Wu and Yu's seminal 2011 paper on testing for the dot-com bubble. I apply recent advancements of their methods to individual Nasdaq stocks and use a novel specification for fundamentals. To address a…
The study examined the relationship between capital market performance and the macroeconomic dynamics in Nigeria, and it utilized secondary data spanning 1993 to 2020. The data was analyzed using vector error correction model (VECM)…
This paper examined the economic consequences of the COVID-19 pandemic on sub-Saharan Africa (SSA) using the historical approach and analysing the policy responses of the region to past crises and their economic consequences. The study…
Extraordinary fiscal and monetary interventions in response to the COVID-19 pandemic have revived concerns about zombie prevalence in advanced economies. Within a sample of publicly listed U.S. companies, we find zombie prevalence and…
The random utility model (RUM, McFadden and Richter, 1990) has been the standard tool to describe the behavior of a population of decision makers. RUM assumes that decision makers behave as if they maximize a rational preference over a…
A leading explanation for widespread replication failures is publication bias. I show in a simple model of selective publication that, contrary to common perceptions, the replication rate is unaffected by the suppression of insignificant…
In spring 2022, the German federal government agreed on a set of measures that aim at reducing households' financial burden resulting from a recent price increase, especially in energy and mobility. These measures include among others, a…
This textbook is an introduction to economic networks, intended for students and researchers in the fields of economics and applied mathematics. The textbook emphasizes quantitative modeling, with the main underlying tools being graph…
Bank operational risk capital modeling using the Basel II advanced measurement approach (AMA) often lead to a counter-intuitive capital estimate of value at risk at 99.9% due to extreme loss events. To address this issue, a flexible…
Information frictions can harm the welfare of participants in two-sided matching markets. Consider a centralized admission, where colleges cannot observe students' preparedness for success in a particular major or degree program. Colleges…
Using images containing information on wealth, this research investigates that pictures are capable of reliably predicting the economic prosperity of households. Without surveys on wealth-related information and human-made standard of…
We assess the demand effects of discounts on train tickets issued by the Swiss Federal Railways, the so-called `supersaver tickets', based on machine learning, a subfield of artificial intelligence. Considering a survey-based sample of…
Ongoing school closures and gradual reopenings have been occurring since the beginning of the COVID-19 pandemic. One substantial cost of school closure is breakdown in channels of reporting of violence against children, in which schools…
Individuals invest in Environmental-Social-Governance (ESG)-assets not only because of (higher) expected returns but also driven by ethical and social considerations. Less is known about ESG-conscious investor subjective beliefs about…
The emergence of new organizational forms--such as virtual teams--has brought forward some challenges for teams. One of the most relevant challenges is coordinating the decisions of team members who work from different time zones. Intuition…
Biobased energy, particularly corn starch-based ethanol and other liquid renewable fuels, are a major element of federal and state energy policies in the United States. These policies are motivated by energy security and climate change…
This paper studies the effects of talk radio, specifically the Rush Limbaugh Show, on electoral outcomes and attitude polarization in the U.S. We propose a novel identification strategy that considers the radio space in each county as a…
Inbreeding homophily is a prevalent feature of human social networks with important individual and group-level social, economic, and health consequences. The literature has proposed an overwhelming number of dimensions along which human…
We argue that the recent growth in income inequality is driven by disparate growth in investment income rather than by disparate growth in wages. Specifically, we present evidence that real wages are flat across a range of professions,…
This paper uses a before-after, experimental-control group method to evaluate the impacts of the newly opened Expo light rail transit line in Los Angeles on personal vehicle greenhouse gas (GHG) emissions. We applied the California Air…