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  • Fair weather or foul? The macroeconomic effects of El Niño 

    Cashin, P; Mohaddes, K; Raissi, M (Elsevier, 2017-05-01)
    This paper employs a dynamic multi-country framework to analyze the international macroeconomic transmission of El Niño weather shocks. This framework comprises 21 country/region-specific models, estimated over the period ...
  • 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. (Faculty of 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. (Faculty of 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 ...

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