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Has the Information Channel of Monetary Policy Disappeared? Revisiting the Empirical Evidence
(Private Enterprise Research Center, Texas A&M University, 2020-03-10)
Does the Federal Reserve have an “information advantage� in forecasting macroeconomic variables beyond what is known to private sector forecasters? And are market participants reacting only to monetary policy shocks ...
Diversity In Economics Seminars: Who Gives Invited Talks?
(Private Enterprise Research Center, Texas A&M University, 2021-04-12)
In economics, as in many other academic disciplines, it is common for departments to invite external speakers to give research talks in academic seminars. These invited seminars are a primary way that academic economists ...
State Dependence of Monetary Policy Across Business, Credit and Interest Rate Cycles
(Private Enterprise Research Center, Texas A&M University, 2020-04-28)
In this paper, PERC Professor Sarah Zubairy, along with co-authors Sami Alpanda and Eleonora Granziera study how phases of the business, credit and interest rate cycles affect the transmission of monetary policy using ...
Household Debt and the Effects of Fiscal Policy
(Private Enterprise Research Center, Texas A&M University, 2021-11-02)
This paper examines how the effects of government spending shocks depend on the balance-sheet position of households. Employing U.S. household survey data, the authors find that in response to a positive government spending ...
Almost Stochastic Dominance: Magnitude Constraints on Risk Aversion
(Private Enterprise Research Center, Texas A&M University, 2021-06-01)
Almost stochastic dominance (ASD) extends conventional first and second degree stochastic dominance by placing restrictions on the variability in the first and second derivatives of utility. Such restrictions increase the ...
Illegal Immigration: The Trump Effect
(Private Enterprise Research Center, Texas A&M University, 2021-06-03)
Recent years have witnessed the emergence of increasingly provocative anti-immigrant politicians in both Europe and the United States. The authors examine whether the 2016 election of Donald Trump, who made illegal immigration ...
Corrupt Police
(Private Enterprise Research Center, Texas A&M University, 2020-08-21)
PERC Professor Danila Serra, along with Klaus Abbink and Dmitry Ryvkin employ laboratory experiments to examine the effects of corrupt law enforcement on crime within a society. The authors embed corruption in a social ...
Comparative Risk Apportionment
(Private Enterprise Research Center, Texas A&M University, 2021-01-04)
A decision maker who would rather apportion an independent risk in a state with a good lottery than in a state with a bad lottery is said to have a preference for risk apportionment (Eeckhoudt & Schlesinger, 2006). In this ...
Elderly Entitlements and Wealth Inequality
(Private Enterprise Research Center, Texas A&M University, 2022-12-21)
By most measures, wealth inequality has risen significantly over the last three decades and is a growing concern. However, standard wealth definitions require that individuals possess a legal claim to assets included as ...
Networking the Yield Curve: Implications for Monetary Policy
(Private Enterprise Research Center, Texas A&M University, 2021-05-06)
In this working paper, authors Tatevik Sekhposyan, Tatjana Dahlhaus, and Julia Schaumburg introduce a flexible, time-varying network model to trace the propagation of interest rate surprises across different maturities. ...