About this collection

Cambridge Working Papers in Economics (CWPE) is a new series of papers from the Faculty of Economics and the Department of Applied Economics. It supersedes the DAE Working Paper series.


Please note the Working Papers often represent early stages in the presentation of research findings, and should not be quoted without permission.

Recent Submissions

  • 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 ...
  • Estimation of a Multiplicative Covariance Structure in the Large Dimensional Case 

    Hafner, C. M. (Department of Applied Economics, 2016-11-09)
    We propose a Kronecker product structure for large covariance or correlation matrices. One feature of this model is that it scales logarithmically with dimension in the sense that the number of free parameters increases ...

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