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  • Voting, education, and the Great Gatsby Curve 

    Rauh, C (Elsevier, 2017-02-01)
    High inequality goes hand in hand with low intergenerational earnings mobility across countries. Little is known about why the US is characterized by high inequality and low mobility, while the opposite tends to hold for ...
  • Experimentation and Learning-by-Doing 

    Safronov, M. (Department of Applied Economics, 2016-11-25)
    I consider a multi-armed bandit problem, where by experimenting with any arm an agent not only learns its payoffs, but also due to learning-by-doing becomes experienced at that arm. Experience provides an additional payoffs ...
  • Corporate Debt Structure, Precautionary Savings, and Investment Dynamics 

    Xiao, J. (Department of Applied Economics, 2016-11-22)
    Micro-level evidence indicates that firms which substituted bank loans with bond issues during the Great Recession did not experience a large contraction in their total borrowing, but they have been hoarding more cash and ...
  • Sovereign Risk and Bank Risk-Taking 

    Ari, A. (Department of Applied Economics, 2016-11-17)
    In European countries recently hit by a sovereign debt crisis, banks have sharply raised their holdings of domestic sovereign debt, reduced credit to forms, and faced rising financing costs, raising concerns about economic ...

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