Categories: In the news., Macroeconomics, Statistics and Time Series.
NBER News
- Dancing With Activists -- by Lucian A. Bebchuk, Alon Brav, Wei Jiang, Thomas KeuschAn important milestone often reached in the life of an activist engagement is entering into a “settlement” agreement between the activist and the target’s board. Using a comprehensive hand-collected data set, we analyze the drivers, nature, and consequences of such settlement agreements. Settlements are more likely when the activist has a credible threat to win […]
- State-Dependent Demand Estimation with Initial Conditions Correction -- by Andrey Simonov, Jean-Pierre H. Dubé, Günter J. Hitsch, Peter E. RossiWe analyze the initial conditions bias in the estimation of brand choice models with structural state dependence. Using a combination of Monte Carlo simulations and empirical case studies of shopping panels, we show that popular, simple solutions that mis-specify the initial conditions are likely to lead to bias even in relatively long panel datasets. The […]
- The Impact of Brexit on UK Firms -- by Nicholas Bloom, Philip Bunn, Scarlet Chen, Paul Mizen, Pawel Smietanka, Gregory ThwaitesWe use a major new survey of UK firms, the Decision Maker Panel, to assess the impact of the June 2016 Brexit referendum. We identify three key results. First, the UK’s decision to leave the EU has generated a large, broad and long-lasting increase in uncertainty. Second, anticipation of Brexit is estimated to have gradually […]
- How Do Private Digital Currencies Affect Government Policy? -- by Max Raskin, Fahad Saleh, David YermackThis paper provides a systematic evaluation of the different types of digital currencies. We express skepticism regarding centralized digital currencies and therefore focus our economic analysis on private digital currencies. Specifically, we highlight the potential for private digital currencies to improve welfare within an emerging market with a selfish government. In that setting, we demonstrate […]
- On the Redesign of Accident Liability for the World of Autonomous Vehicles -- by Steven ShavellThis article studies a model of liability for automobile accidents in the coming world in which automobiles will be autonomous. In that world, travelers will not be drivers, rendering liability premised on driver fault irrelevant as a means of reducing accident dangers. Moreover, no other conventional principle of individual or of manufacturer liability would serve […]
Recent Comments