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Journal Article
Jargon Alert: Present Value
Journal Article
Regional News at a Glance
Bankrupt Patriot Coal Questions Its Origin - Rhodes. IPO Succeeds for Northern VA based Hilton - Sablik. State Upholds Rare Negligence Rule - Haltom. D.C. Living Wage Bill Prompts Retailer Pushback - Sablik.
Briefing
Using Inventories to Help Explain Post-1984 Business Cycles
Real business cycle (RBC) models have been highly successful at explaining business cycles that occurred before 1984. But since then, shifts in comovements and relative volatilities of key economic aggregates have challenged their preeminence. One possible refinement of the standard RBC model is to include multiple stages of production. This extension allows researchers to use inventory data to estimate the discount rate that firms use to assess future income streams. The results indicate that variations in the discount rate reflect financial frictions that have become significant drivers of ...
Journal Article
RESEARCH SPOTLIGHT: Superstars of Tax Flight
"Taxation and the International Mobility of Inventors." Ufuk Akcigit, Salome Baslandze, and Stefanie Stantcheva. National Bureau of Economic Research Working Paper No. 21024, March 2015.
Journal Article
The Role of Lower-Ranked Economics Ph.D. Programs
Journal Article
Economic History: Conflagration in Baltimore
The 1904 disaster was a turning point for U.S. fire prevention
Journal Article
Nuclear Reactions
Lessons learned from projects in Georgia and South Carolina might determine the course of U.S. nuclear development for decades to come.
Briefing
TARGET2: symptom, not cause, of eurozone woes
In recent years, large positive and negative balances have arisen in TARGET2, the interbank settlement and payments system of the Eurozone. These balances show that the Deutsche Bundesbank, the central bank of Germany, has become a large net creditor to the European Central Bank (ECB). Conversely, they show that central banks in the periphery nations of Portugal, Ireland, Italy, Greece, and Spain have become significant net debtors to the ECB. Critics of the Eurosystem have portrayed these balances as a "stealth bailout" of the periphery nations, but TARGET2 merely reflects persistent ...
Journal Article
Jargon Alert: Adverse Selection