工作论文 PAPERS
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Co-Movement of Steady-State Government Debt and Household Debt
To understand whether and how movements of government debt and household debt...
Insook Lee
Working Paper | |No. 20210303
Keywords: Government debt, household debt, co-movement, uninsurable income risk
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Downward Wage Rigidity, Corporate Investment, and Firm Value
Firms reduce investment when facing downward wage rigidity (DWR), the inabili...
DuckKi Cho
Working Paper | |No. 20210302
Keywords: Downward wage rigidity, corporate investment, minimum wage laws, theory of second best
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It's Not Who You Know - It's Who Knows You: Employee Social Capital and Firm ...
We show that the social capital embedded in employees’ networks contributes ...
DuckKi Cho, Lyungmae Choi, Michael Hertzel, Jessie Jiaxu Wang
Working Paper | |No. 20210301
Keywords: Labor and Finance, social capital, social connections, directed networks
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Shadow Union in Local Labor Markets and Capital Structure
This paper identifies an externality of a firm s unionization that affects th...
DuckKi Cho, Lyungmae Choi
Working Paper | No. 20210201 |
Keywords: Shadow Union, Capital Structure, Local Labor Market, Threat of Unionization
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Home Location Choices and the Gender Commute Gap
Using administrative records of home mortgages in Beijing, we show that house...
Yizhen Gu, Naijia Guo, Jing Wu, Ben Zou
Working Paper | No. 20210105 |
Keywords: Gender gap, Commute to work, Housing demand
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Nonparametric Quantile Regressions for Panel Data Models with Large
This paper considers panel data models where the conditional quantiles of the...
Liang Chen
Working Paper | No. 20210104 |
Keywords: Panel data, Quantile regressions, incidental parameters, Jackknife, Bias correction
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Two-Step Estimation of Quantile Panel Data Models with Interactive Fixed Effe...
This paper considers the estimation of panel data models with interactive fix...
Liang Chen
Working Paper | No. 20210103 |
Keywords: Panel data, Interactive fixed effects, Smoothed quantile regressions, Principal component analy
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Land Cronyism and Corporate Political Cycles in China
This paper measures the degree of industrial land subsidy to a firm using the...
Chunyang Wang, Qinghua Zhang
Working Paper | No.20210102 |
Keywords: Cronyism, land, Political turnover, China
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Predicting Recession Probabilities Using Term Spreads: New Evidence from a Ma...
The literature on using yield curves to forecast recessions typically measure...
Jaehyuk Choi, Desheng Ge, Kyu Ho Kang, Sungbin Sohn
Working Paper | No. 20210101 |
Keywords: Yield Curve, Estimation risk, Density forecasting
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Does Outlawing Mandatory Retirement Reduce Public-Pension Benefit Claim?
Exploiting the 2011 abolishment of the mandatory-retirement provision that ha...
Insook Lee
Working Paper | No. 2020002 |
Keywords: mandatory retirement, public-pension claim, household head