The European Central Bank’s Monetary Policy Announcement Effect on the Exchange Rate in the Effective Lower Bound Era

By Raisa Khadija Muhtar, University of St. Andrews

Using a high-frequency event study of the European Central Bank’s (ECB) monetary policy announcements for both the “Press Release” event window and “Press Conference” event window, this paper observes an increasing sensitivity of exchange rate response to monetary policy announcements windows over the period of 2002 to 2019. Continue reading The European Central Bank’s Monetary Policy Announcement Effect on the Exchange Rate in the Effective Lower Bound Era

The Effect of National Radio on Financial Behavior

By Smeet Butala, University of Maryland

This paper examines the effects of increasing national coverage of All India Radio on financial inclusion during the early 2000s. Specifically, the dependent variable is bank account ownership and the explanatory variable of interest is subdistrict-level radio coverage. Continue reading The Effect of National Radio on Financial Behavior

BLOG: One Solution to Two Problems: Solving Federal Debt and the Climate Problem through a Human-Oriented Carbon Tax

By Shreyansh Budhia, The George Washington University

Carbon taxes, or the taxation of greenhouse gas emissions, have been touted as a solution to rein in both climate change and the ballooning U.S. national debt. Carbon tax proposals also maintain many free market principles and have found support even among some fiscal conservatives. Continue reading BLOG: One Solution to Two Problems: Solving Federal Debt and the Climate Problem through a Human-Oriented Carbon Tax

BLOG: Three Gap Analysis of Macroeconomic Consistency: A Case Study of the Ecuadorian Economy

By Juan Andres Mesias, The George Washington University

This paper studies the macroeconomic consistency of the Ecuadorian economy from 2007- 2016. Initially, the paper develops a Three-Gap Model to carry out a basic consistency check on all three macroeconomic accounts, public, private and current accounts. Continue reading BLOG: Three Gap Analysis of Macroeconomic Consistency: A Case Study of the Ecuadorian Economy

BLOG: Northern Rock: The Forgotten Harbinger of the Global Financial Crisis

By Bishoy Megalla, Yale University

During the early days of 2007, Northern Rock stood as the fifth-largest bank in the United Kingdom by mortgage assets; with £113.5 billion in assets, the bank had grown tremendously from its origins in the twentieth century as a simple building society. Continue reading BLOG: Northern Rock: The Forgotten Harbinger of the Global Financial Crisis

BLOG: How Price and Non-Price Incentives Affect California Water Demand

By Christopher Deranian, University of Maryland, College Park

Over the past two decades, drought conditions in California have repeatedly threatened freshwater security in the state. Since Governor Jerry Brown declared a state of emergency in 2014, a variety of policies have been enacted to promote water conservation. Continue reading BLOG: How Price and Non-Price Incentives Affect California Water Demand