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  • 27 May 2014
  • First Look

First Look: May 27

times, when expected short-run returns are relatively low and 2) the model-implied forecaster of aggregate returns exhibits modest predictive ability. Collectively, we provide a simple, theoretically motivated and practically useful approach to View Details
Keywords: Sean Silverthorne
  • 08 Jan 2008
  • First Look

First Look: January 8, 2008

of options in the future and their subsequent revealed preferences over those options. Using a novel panel data set, we analyze the film rental and return patterns of a sample of online DVD rental customers over a period of four months.... View Details
Keywords: Martha Lagace
  • 01 Sep 2015
  • First Look

First Look -- September 1, 2015

returns are a linear combination of two accounting fundamentals: book to market and ROE. Empirical estimates based on this relation predict the cross section of out-of-sample returns in 26 of 29 international equity markets, with a highly... View Details
Keywords: Sean Silverthorne
  • 26 Oct 2010
  • First Look

First Look: October 26, 2010

(retained earnings) is cheaper than external equity (share issues). If there are no perfect substitutes for equity finance, payout taxes may have an effect on the investment of firms. High taxes will favor investment by firms that can finance internally. Using an... View Details
Keywords: Sean Silverthorne
  • 20 Oct 2009
  • First Look

First Look: October 20

illustrates that in a gray market setting, the transfer price that maximizes a multinational's profits may also be the same one that maximizes the social welfare of the domestic economy that houses it. Download the paper: http://www.hbs.edu/research/pdf/09-098.pdf... View Details
Keywords: Martha Lagace
  • 15 Feb 2011
  • First Look

First Look: Feb. 15

trends. Happiness Adaptation to Income and to Status in an Individual Panel Authors:Rafael Di Tella and Robert MacCulloch Publication:Journal of Economic Behavior and Organization (forthcoming) Abstract We study adaptation to income and... View Details
Keywords: Sean Silverthorne
  • 19 Jan 2016
  • First Look

January 19, 2016

investments. Using both calendar-time portfolio stock return regressions and firm-level panel regressions we find that firms with good ratings on material sustainability issues significantly outperform firms with poor ratings on these... View Details
Keywords: Sean Silverthorne
  • 18 Sep 2018
  • First Look

New Research and Ideas, September 18, 2018

growth, voting rules, and media consumption, vs. individual factors, such as race and education. We use individual-level panel data covering the vast majority of the U.S. voting-age population from 2008 to 2014 and track changes in... View Details
Keywords: Dina Gerdeman
  • 06 Jun 2017
  • First Look

First Look at New Research and Ideas: June 6, 2017

revenue distributions rightward while between-firm selection and market reallocation raise the left truncation of the distributions and shift revenue leftward. Using a rich cross-country firm-level panel dataset, we find significant... View Details
Keywords: Sean Silverthorne
  • 21 Aug 2012
  • First Look

First Look: August 21

ability distributions as endogenous to current taxes. We model this endogeneity, calibrate the model to match estimates of the intergenerational transmission of earnings ability in the United States, and use the model to simulate optimal... View Details
Keywords: Sean Silverthorne
  • 17 Jul 2012
  • First Look

First Look: July 17

show that knowledge spillover shifts both distributions rightward while selection and reallocation raise the left truncation of the distributions and shift revenue leftward. Using a rich firm-level panel dataset that spans 60 countries,... View Details
Keywords: Sean Silverthorne
  • 20 Mar 2012
  • First Look

First Look: March 20

increased five-fold between 1997 and 2007. We construct and analyze a panel of Mexican bank financial data covering this period and find no evidence that foreign entry increases the availability of credit. We also find that switching from... View Details
Keywords: Sean Silverthorne
  • 13 Dec 2016
  • First Look

December 13, 2016

Using a rich cross-country firm panel dataset, we find significant evidence of both mechanisms and effects of competition in product, technology, and labor space. However, selection and market reallocation account for the majority of... View Details
Keywords: Carmen Nobel
  • 13 Jul 2010
  • First Look

First Look: July 13

foreign market share therefore increased five-fold between 1997 and 2007. We construct and analyze a panel of Mexican bank financial data covering this period and find no evidence that foreign entry increases the availability of credit.... View Details
Keywords: Martha Lagace
  • 15 Dec 2009
  • First Look

First Look: Dec. 15, 2009

pairwise industry and establishment level and measure agglomeration in a global and continuous metric space. These indices exhibit distinct advantages compared to traditional measures of agglomeration including the independence on the level of geographic aggregation.... View Details
Keywords: Martha Lagace
  • 26 Jun 2007
  • First Look

First Look: June 26, 2007

also apparent using only portfolio investment responses to within-country corporate tax rate changes in a panel from 1994 to 2005. Investors appear to alter their portfolio choices to circumvent home and host country institutional... View Details
Keywords: Martha Lagace
  • 17 Jan 2012
  • First Look

First Look: January 17

using a precisely constructed matched sample, we estimate the effect of a scientist becoming a Howard Hughes Medical Investigator (HHMI) on citations to articles the scientist published before the prize was awarded. We do find evidence of... View Details
Keywords: Sean Silverthorne
  • 20 Oct 2015
  • First Look

October 20, 2015

improve the lives of the estimated two billion people who live on less than $2 a day by facilitating more secure, accessible, and reliable ways to store and transfer money than are currently available. The development of this ecosystem... View Details
Keywords: Sean Silverthorne
  • 11 Oct 2016
  • First Look

October 11, 2016

not be confined to the pursuit of strong institutions: firms may also seek weak institutions to mitigate hazards. Using panel data from the global smartphone industry and recent patent wars among key industry rivals, we examine how... View Details
Keywords: Sean Silverthorne
  • 29 Jan 2008
  • First Look

First Look: January 29, 2008

cost of external finance shape both the probability of entering entrepreneurship and the characteristics of those who become entrepreneurs. As expected, differences-in-differences estimates show that the entry rates for individuals who... View Details
Keywords: Martha Lagace

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