MIT Dept. of Economics Working Papers Series: Recent submissions
Now showing items 37-39 of 1293
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Do Credit Market Shocks Affect the Real Economy? Quasi-Experimental Evidence from the Great Recession and 'Normal' Economic Times
(Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2012-11-30)We estimate the effect of the sharp reduction in credit supply following the 2008 financial crisis on the real economy. The identification strategy relies on the substantial heterogeneity in the degree to which banks cut ... -
Carry Trade and Systemic Risk: Why are FX Options so Cheap?
(Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2012-12-05)In this paper we document first that, in contrast with their widely perceived excess returns, popular carry trade strategies yield low systemic-risk-adjusted returns. In particular, we show that carry trade returns are ... -
Do labor market policies have displacement effects? Evidence from a clustered randomized experiment
(Cambridge, MA: Department of Economics, Massachusetts Institute of Technology, 2012-11-10)This paper reports the results from a randomized experiment designed to evaluate the direct and indirect (displacement) impacts of job placement assistance on the labor market outcomes of young, educated job seekers in ...
