Wall Street and Silicon Valley: A Delicate Interaction 1 July 2022 George-Marios Angeletos, Guido Lorenzoni and Alessandro PavanEntrepreneurs and venture capitalists are concerned about investors’ beliefs in asset markets because these beliefs shape the value of a potential IPO and the possibility to expand.
Belief Convergence under Misspecified Learning: A Martingale Approach 1 July 2022 Mira Frick, Ryota Iijima and Yuhta IshiiWe present an approach to analyse learning outcomes in a broad class of misspecified environments, spanning both single-agent and social learning
Marginal Jobs and Job Surplus: A Test of the Efficiency of Separations 1 July 2022 Simon Jäger, Benjamin Schoefer and Josef ZweimüllerWe present a test of Coasean theories of efficient separations.
Matching in Dynamic Imbalanced Markets 1 July 2022 Itai Ashlagi, Afshin Nikzad and Philipp StrackWe study dynamic matching in exchange markets with easy- and hard-to-match agents.
Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinance Program 25 June 2022 Sumit Agarwal, Gene Amromin, Souphala Chomsisengphet, Tim Landvoigt, Tomasz Piskorski, Amit Seru and Vincent YaoWe examine the ability of the government to impact mortgage refinancing activity and spur consumption by focusing on the Home Affordable Refinance Program (HARP).
A Risk-based Theory of Exchange Rate Stabilization 25 June 2022 Tarek A. Hassan, Thomas M. Mertens and Tony ZhangWe develop a novel, risk-based theory of the effects of exchange rate stabilization. In our model, the choice of exchange rate regime allows policymakers to make their currency, and by extension, the firms in their country, a safer investment for international investors.
Economic and Social Outsiders but Political Insiders: Sweden’s Populist Radical Right 25 June 2022 Ernesto Dal Bo, Frederico Finan, Olle Folke, Torsten Persson and Johanna RickneWe study the politicians and voters of the Sweden Democrats, a major populist radical-right party. Based on detailed administrative data, we present the first comprehensive account of which politicians are selected into such a party.
Estimating the Costs of Standardization: Evidence from the Movie Industry 25 June 2022 El Hadi CaouiThis paper studies the decentralized adoption of a technology standard when network effects are present.
