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The Coholding Puzzle: New Evidence from Transaction-Level Data (2024)
Journal Article
Gathergood, J., & Olafsson, A. (2024). The Coholding Puzzle: New Evidence from Transaction-Level Data. Review of Financial Studies, https://doi.org/10.1093/rfs/hhae016

Why do individuals pay debt interest when they could use their savings to pay down the debt? We explore why individuals "co-hold" debt and savings using detailed and highly disaggregated daily-level data on household finances. We find that co-holding... Read More about The Coholding Puzzle: New Evidence from Transaction-Level Data.

Tests for equal forecast accuracy under heteroskedasticity (2024)
Journal Article
Harvey, D. I., Harvey, D. I., Leybourne, S. J., Leybourne, S. J., & Zu, Y. (2024). Tests for equal forecast accuracy under heteroskedasticity. Journal of Applied Econometrics, https://doi.org/10.1002/jae.3050

Heteroskedasticity is a common feature in empirical time series analysis, and in this paper, we consider the effects of heteroskedasticity on statistical tests for equal forecast accuracy. In such a context, we propose two new Diebold–Mariano-type te... Read More about Tests for equal forecast accuracy under heteroskedasticity.

Investor Logins and the Disposition Effect (2024)
Journal Article
Quispe-Torreblanca, E., Gathergood, J., Loewenstein, G., & Stewart, N. (in press). Investor Logins and the Disposition Effect. Management Science, https://doi.org/10.1287/mnsc.2022.00359

Using data from an online brokerage, we examine the role of investor logins in trading behavior. We find that a new reference point is created when an investor logs in and views the investor’s portfolio. We observe this as a disposition effect on ret... Read More about Investor Logins and the Disposition Effect.

Macroprudential policies and Brexit: A welfare analysis (2024)
Journal Article
Rubio, M. (in press). Macroprudential policies and Brexit: A welfare analysis. Economic Inquiry, https://doi.org/10.1111/ecin.13214

Brexit will have implications on financial stability and the implementation of macroprudential policies. The United Kingdom (UK) will no longer be subject to the jurisdiction of the European Systemic Risk Board. This paper studies the welfare implica... Read More about Macroprudential policies and Brexit: A welfare analysis.

Sustaining Tanzania's Economic Development: A Firm and Household Perspective (2024)
Book
Morrissey, O., Semboja, J., & Were, M. (Eds.). (2024). Sustaining Tanzania's Economic Development: A Firm and Household Perspective. Oxford: Oxford University Press. https://doi.org/10.1093/oso/9780192885746.001.0001

The book addresses the progress and resilience of firms and households in Tanzania. How has growth, access to (export) markets and interlinkages helped establish resilience for firms? What are the key variations in households’ income sources and how... Read More about Sustaining Tanzania's Economic Development: A Firm and Household Perspective.

Sixty Years of the Voting Rights Act: Progress and Pitfalls (2024)
Journal Article
Bernini, A., Facchini, G., Tabellini, M., & Testa, C. (in press). Sixty Years of the Voting Rights Act: Progress and Pitfalls. Oxford Review of Economic Policy,

We review the literature on the effects of the 1965 Voting Rights Act (VRA), which removed formal restrictions to Black political participation. After a brief description of racial discrimination suffered by Black Americans since Reconstruction, we i... Read More about Sixty Years of the Voting Rights Act: Progress and Pitfalls.

The plague, the skill-premium, and the road to modern economic growth (2024)
Journal Article
Jensen, M. K., & Luo, R. (2024). The plague, the skill-premium, and the road to modern economic growth. Macroeconomic Dynamics, https://doi.org/10.1017/S1365100523000573

When bubonic plague arrived in Britain in the mid-14th century, it caused dramatic economic and structural change. Within 50 years, the skill-premium was reduced by half, and another 50 years on, agriculture's share of the labor force had declined by... Read More about The plague, the skill-premium, and the road to modern economic growth.

The role of public external knowledge for firm innovativeness (2024)
Journal Article
García-Vega, M., & Vicente-Chirivella, Ó. (2024). The role of public external knowledge for firm innovativeness. International Journal of Industrial Organization, 93, Article 103056. https://doi.org/10.1016/j.ijindorg.2024.103056

Public research organizations (PROs) and universities receive large amounts of public funding for the generation and transmission of knowledge, and companies contract external knowledge from both. An important question for the management of a firm's... Read More about The role of public external knowledge for firm innovativeness.

Dishonesty and public employment (2023)
Journal Article
Cruces, G., Rossi, M., & Schargrodsky, E. (2023). Dishonesty and public employment. American Economic Review: Insights, 5(4), 511-526. https://doi.org/10.1257/aeri.20220550

We exploit a natural experiment to study the causal link between dishonest behavior and public employment. When military conscription was mandatory in Argentina, eligibility was determined by both a lottery and a medical examination. To avoid conscri... Read More about Dishonesty and public employment.

“Notre-taxe de Paris”, tax expenditures with two public goods (2023)
Journal Article
Rueda, V., & Wilemme, G. (2023). “Notre-taxe de Paris”, tax expenditures with two public goods. Revue Economique, 74(6), 1053-1065. https://doi.org/10.3917/reco.746.1053

This article presents a new efficiency-equity trade-off when setting up tax rebates in the presence of multiple goods. Although tax rebates can efficiently raise more public funds, they can also alter the mix of public goods. We find the condition fo... Read More about “Notre-taxe de Paris”, tax expenditures with two public goods.