finance

Impulse responses to an expansionary monetary shock in the standard New Keynesian model and New Keynesian model with fairness concerns

When Two Tribes Go To Work: Board Political Diversity and Firm Performance

European Journal of Political Economy Analysing the effects of ideological diversity in boardrooms, we find a positive correlation with firm performance. However, the causal effect is instead negative, even excluding top management. The implications are discussed in light of growing polarization.

Optimal stimulus spending during the Great Recession in the United States

Losing Money on the Margin

Journal of Economic Behavior and Organization Margin calls limit the losses of margin-traders. This study shows these induce lower returns with lottery-like skewness. Analyzing Chinese brokerage data, we observe significant losses for margin traders, suggesting a reevaluation of regulation.