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- Can informal health providers help improve health?
Signi cantly higher treatment e ects in areas with better quality of primary health facilities Informal health providers should be regarded as complementary with rather than substituting the existing public health system Non-poor households were able to translate their improved knowledge into better care-seeking behavior and better health outcomes
- The Fundamental Institutions of Chinas Reforms and Development . . .
The Fundamental Institutions of China's Reforms and Development by Chenggang Xu Published in volume 49, issue 4, pages 1076-1151 of Journal of Economic Literature, December 2011, Abstract: China's economic reforms have resulted in spectacular growth and poverty reduction However, China's instituti
- Passive Investing and the Rise of Mega-Firms
5Related mechanisms are at play in Bhattacharya and O’Hara (2018) and Cong and Xu (2016) who study how ETFsaffectmarketeبنciencyandliquidity, Bond and Garcia (2022) who study the efects of lowering the costs of passive investing, and Haddad, Huebner, and Loualiche (2022) who study how passive investing afects the elasticity of asset demand curves
- The Derivative Payoff Bias
A significant fraction of U S equity index derivatives expire “a m ” on the 3rd Friday of each month via constituent stocks’ opening trade price We show these prices are biased upwards since the advent of overnight trading in the early 2000s Equity prices drift up from Thursday close to 3rd Friday open and revert at the point derivative payofs are calculated As a result, equity
- Do Stock Prices Move Too Much to be Justified by SubsequentChanges in . . .
A simple model that is commonlyused to interpret movements in corporate common stock price indexes asserts that real stock prices equal the present value of rationally expected or optimally forecastedfuture real dividends discounted by a constant real dis- count rate This valuation model (or varia- tions on it in which the real discount rate is not constant but fairly stable) is often used
- Long Run Growth of Financial Data Technology
Online Appendix We start by proving a few preliminary lemmas that are useful in proving the main results Throughout this appendix, as we will often treat the signal-to-noise ratio in prices as a single variable, we de ne
- Optimal Time-Consistent Debt Policies
Abstract We study time-consistent debt policies in a trade-off model of debt in which the firm can freely issue new debt and repurchase existing debt A debt policy is time-consistent if in any state equityholders prefer to follow it rather than to deviate from it but lose credibility in sustaining debt discipline in the future In a class of policies, the optimal time-consistent debt policy
- Who’s Getting Globalized? - American Economic Association
We thank Rohit Naimpally, Guo Xu, Fatima Aqeel and Max Perez Leon for excellent research assistance, and Alvaro González, Leonardo Iacovone, Clement Imbert, Horacio Larreguy, Philip Osafo-Kwaako, John Papp, and the World Bank Making Markets Work for the Poor Initiative for assistance in obtaining segments of the data We have benefited greatly from many discussions with Glen Weyl, as well as
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