Fiscal Austerity in Ambiguous Times

By Axelle Ferriere and Anastasios G. Karantounias

American Economic Journal: Macroeconomics, January 2019

This paper analyzes optimal fiscal policy with ambiguity aversion and endogenous government spending. We show that, without ambiguity, optimal surplus-to-output ratios are acyclical and that there is no rationale for either reduction or further accumulati...

When Is Foreign Exchange Intervention Effective? Evidence from 33 Countries

By Marcel Fratzscher, Oliver Gloede, Lukas Menkhoff, Lucio Sarno, and Tobias Stöhr

American Economic Journal: Macroeconomics, January 2019

This paper examines foreign exchange intervention based on novel daily data covering 33 countries from 1995 to 2011. We find that intervention is widely used and an effective policy tool, with a success rate in excess of 80 percent under some criteria. Th...

2019 Live Webcasts of Selected AEA Sessions

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Test Page

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Janna Johnson on the undercounting of children in the US Census

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How big of a problem is the US Census undercount of children for social science research?

Derek Wu on federal grants and education spending

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Do federal grants crowd out local revenues?

Wenlan Qian on consumer response to interest rates

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How does spending change when mortgage interest rates drop?

Steven Bednar on how physical activity affects student achievement

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Does it matter whether students have gym class in the morning or afternoon?

Mallory Avery on colonial resistance and economic development

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How do the reactions of native populations to colonial rule affect future growth?

Alessandro Flamini on illegal drugs and public corruption

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Did the arrival of crack cocaine in California increase institutionalized corruption?

Pallab Ghosh on tenure in economics

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What matters more: the quantity of publications or having fewer papers in top journals?

Tali Regev on the impact of gendered language

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How does referring to women in the masculine affect their performance in math?

Call for Nominations: 2019 Klaus J. Jacobs Research Prize

[News]

January 10, 2019

Deadline for submission is March 1, 2019.

Boubacar Diallo on the "Scramble for Africa"

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How did the partitioning of Africa in the 19th century affect modern day financial development across countries?

International Trade - Part 9

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Alicia Sasser Modestino on the effectiveness of financial coaching

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To what extent can educational programs improve people's financial behaivor?

Matteo Binfare on the performance of investment-savvy university boards

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Does board member experience with investing improve endowment returns?

Haishan Yuan on the challenges of regulating fisheries

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Are bans effective in reducing the number of boats in fisheries?

Soazic Elise Wang Sonne on climate change and childhood behavior

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Does lower rainfall and higher temperatures lead to bad behaviors in Chadian children?

Boys' club

[Research Highlight]

December 11, 2018

An elite education can propel someone into a top corporate job...if they are a wealthy man.