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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 ...
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 ...
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 ...
Portfolio Choice in the Model of Expected Utility with a Safety-First Component
(Private Enterprise Research Center, Texas A&M University, 2020-10-14)
Whereas the majority of economists interpret risk as dispersion or variation in an outcome variable, many everyday decision makers tend to associate risk with the outcome failing to meet a certain “safety� level. In ...
Coronavirus Economics: The Impact of Shutting Down Meatpacking Plants
(Private Enterprise Research Center, Texas A&M University, 2020-06-25)
Motivated by the observed beef and livestock market impacts of coronavirus-caused meatpacking plant shutdowns, this paper constructs a theoretical model to study the effects of closures among downstream producers on both ...
Generosity Across the Income and Wealth Distributions
(Private Enterprise Research Center, Texas A&M University, 2020-06-29)
Despite widespread interest, there is little systematic evidence on the relationship between income, wealth, and charitable giving. Although the media suggests that the well-off are stingy, the misuse of data, incomplete ...
Public Pension Reforms and Fiscal Foresight: Narrative Evidence and Aggregate Implications
(Private Enterprise Research Center, Texas A&M University, 2020-06-29)
With aging societies, policymakers have increasingly focused on pension retrenchment reforms in recent years to keep their pension systems solvent. PERC Professor Sarah Zubairy and co-author Huixin Bi explore the evolution ...
Does Race Matter for Police Use of Force? Evidence from 911 Calls
(Private Enterprise Research Center, Texas A&M University, 2020-03-10)
While there is much concern about the role of race in police use of force, identifying causal effects is difficult. This is in part because of selection, and in part because researchers often observe only interactions ...
The Effect of Open-Air Waste Burning on Infant Health: Evidence from Government Failure in Lebanon
(Private Enterprise Research Center, Texas A&M University, 2020-06-15)
An estimated 40 percent of the world's garbage is burned in open-air fires, which are responsible for as much as half of the global emissions of some pollutants. However, there is little evidence on the health consequences ...
Social Security Wealth and Federal Liabilities
(Private Enterprise Research Center, Texas A&M University, 2020-10-27)
This study identifies Social Security wealth as accrued benefits based on past participation in the program. This definition is similar to accrued pension wealth associated with defined benefit plans. Accrued Social Security ...