SEC, NASAA Sign Info-Sharing Agreement For Crowdfunding And Other Offerings
The Securities and Exchange Commission and the North American Securities Administrators Association today signed an information-sharing agreement as new rules to facilitate intrastate crowdfunding...
View ArticleEBA Expresses Dissent Over The Eu Commission Proposed Amendments To Technical...
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View ArticleTOM MTF Statistics Week 07, 2017
Click here to download the weekly statistics update of TOM MTF for week 07, 2017.read more...
View ArticleRemarks Of SEC Acting Chairman Michael Piwowar At The Signing Of The...
Good morning, everyone. I would like to extend a special welcome to Mike Rothman, President of the North American Securities Administrators Association (NASAA), Judy Shaw, former-President of NASAA,...
View ArticleSIFMA, ABA And IIB Respond To Joint Agenciesâ Cybersecurity Request For...
SIFMA, jointly with the American Bankers Association (ABA) and Institute of International Bankers (IIB), today submitted comments to the Board of Governors of the Federal Reserve System (“Fed”), the...
View ArticleNigerian Stock Exchange Weekly Market Report For 17 February 2017
A total turnover of 1.073 billion shares worth N8.608 billion in 14,486 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.052 billion shares valued at...
View ArticleESM Receives â¬2 Billion Loan Repayment From Greece
The European Stability Mechanism on Monday received a loan repayment of €2 billion from the Greek government. The repayment was a contractual obligation with the ESM and follows the sale of an asset by...
View ArticleWorld Federation Of Exchanges Responds To FSB Consultation On Continuity Of...
The World Federation of Exchanges (“WFE”), which represents more than 200 market infrastructure providers including exchanges and CCPs, has responded to a consultation from the Financial Stability...
View ArticleBack to Basics: Why do Firms Invest in Research? -- by Ashish Arora, Sharon...
If scientific knowledge is a public good, why do firms invest in research? This paper revisits this question with new data on patent citations to corporate scientific publications. Using data on 4,736...
View ArticleLong-Run Covariability -- by Ulrich K. Mueller, Mark W. Watson
We develop inference methods about long-run comovement of two time series. The parameters of interest are defined in terms of population second-moments of lowfrequency trends computed from the data....
View ArticleHigh-Skilled Immigration, STEM Employment, and Non-Routine-Biased Technical...
We study the role of foreign-born workers in the growth of employment in STEM occupations since 1980. Given the importance of employment in these fields for research and innovation, we consider their...
View ArticlePolitical Cycles and Stock Returns -- by Lubos Pastor, Pietro Veronesi
We develop a model of political cycles driven by time-varying risk aversion. Heterogeneous agents make two choices: whether to work in the public or private sector and which of two political parties to...
View ArticleFirm-Related Risk and Precautionary Saving Response -- by Andreas Fagereng,...
We propose a new approach to identify the strength of the precautionary motive and the extent of self-insurance in response to earnings risk based on Euler equation estimates. To address endogeneity...
View ArticleImpact of Violent Crime on Risk Aversion: Evidence from the Mexican Drug War...
Whereas attitudes towards risk are thought to play an important role in many decisions over the life-course, factors that affect those attitudes are not fully understood. Using longitudinal survey data...
View ArticleHuman Decisions and Machine Predictions -- by Jon Kleinberg, Himabindu...
We examine how machine learning can be used to improve and understand human decision-making. In particular, we focus on a decision that has important policy consequences. Millions of times each year,...
View ArticleFunding Liquidity without Banks: Evidence from a Shock to the Cost of Very...
In 2011, Colombia instituted a tax on repayment of bank loans, thereby increasing the cost of short-term bank credit more than long-term credit. Firms responded by cutting their short-term loans for...
View ArticleIllusory Gains from Chile's Targeted School Voucher Experiment -- by Benjamin...
In 2008, Chile implemented a targeted voucher program that increased voucher values for disadvantaged students at participating schools by approximately 50%. Although disadvantaged students made...
View ArticleSticking Points: Common-Agency Problems and Contracting in the U.S....
We propose a "common-agency" model for explaining inefficient contracting in the U.S. healthcare system. In our setting, common-agency problems arise when multiple payers seek to motivate a shared...
View ArticleFirms' Internal Networks and Local Economic Shocks -- by Xavier Giroud,...
This paper shows that firms spread the adverse impacts of local employment shocks across regions through their internal networks of establishments. Linking confidential micro data at the establishment...
View ArticleCurrency Matters: Analyzing International Bond Portfolios -- by John D....
Currency denomination is a prominent feature in the analysis of the structure of international bond markets, but is largely absent from analyses of cross-border investment in debt securities. This...
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