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[WP] Are investors ethics agnostic?

My colleague, an FPM and I have a new paper looking at whether stock investors care about ethical behavior on part of top management. We use the 2013… 169 more words

Research

[WP] Derivatives pricing using QuantLib

My colleague and I have a new paper introducing QuantLib for pricing derivatives in practice. Here is the abstract:

Given the complexity of over-the-counter derivatives and structured products, almost all of derivatives pricing today is based on numerical methods.

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Research

The ECB confirms the confidence fairy doesn't exist

In this working paper, the ECB studies the ‘confidence effects’ of fiscal consolidation, or what many call austerity politics. There are some ifs and buts but by and large this study confirms what Keynesians warned about: budget cuts in the middle of crisis have great negative effects. 61 more words

Eurocrisis

Working Paper: Phillips - Gateway effects: why the cited evidence does not support their existence for low-risk tobacco products (and what evidence would)

My new working paper is available for download: Phillips – how to detect gateway effects (pdf).

This paper serves multiple purposes. It addresses the titular question, about how an analysis of empirical evidence could support a claim that e-cigarettes, smokeless tobacco, or other low-risk tobacco products are a gateway to smoking. 445 more words

Working Paper

New version of Phillips-Nissen-Rodu working paper

A new version of the working paper, now titled “Smoking or quitting: choice, true preferences, tobacco harm reduction, and other neglected considerations” is out. It is available for download  7 more words

Working Paper

Capaldo's European Disintegration

In October 2014, Jeronim Capaldo from Tufts University published a working paper on the Transatlantic Trade and Investment Partnership (TTIP) which he subtitled European Disintegration, Unemployment and Instability… 289 more words

SmOD

Measuring Consumer Valuation of Limited Provider Networks

Measuring Consumer Valuation of Limited Provider Networks

NBER Working Paper 20812. (Joint with Amanda Starc)

WTP for Network Breadth

Abstract: We measure provider coverage networks for plans on the Massachusetts health insurance exchange using a two measures: consumer surplus from a hospital demand system and the fraction of population hospital admissions that would be covered by the network. 68 more words

Working Paper