This paper started with data. We were convinced that the discrepancy between book and market values of banks was key to understanding the data. We then developed a theory where, with a simple model, only one state variable driving Tobin's Q, you can explain several data moments.
"We provide a guide for researchers on how to estimate gene-environment (GxE) interplay, using school-starting age as a case study. We argue that gene-environment (G x E) studies can help
(i) assess treatment effect heterogeneity,
(ii) test theoretical predictions, and 👇
"We are thrilled to share that our latest research is now published in @RevEconStudies! 🎉Check it out here:
https://www.restud.com/a-q-theory-of-banks/
We look forward to hearing your thoughts! "
@JulianeBegenau, @SakiBigio, Majerovitz, and Vieyra
