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An Alternative Explanation for the “Fed Information Effect”
The American Economic Review, 2023Regressions of private-sector macroeconomic forecast revisions on monetary policy surprises often produce coefficients with signs opposite to standard macroeconomic models.
Michal Bauer, Eric T Swanson
semanticscholar +1 more source
Information Design: A Unified Perspective
Journal of Economic Literature, 2017Given a game with uncertain payoffs, information design analyzes the extent to which the provision of information alone can influence the behavior of the players.
D. Bergemann, S. Morris
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Targeting High Ability Entrepreneurs Using Community Information: Mechanism Design in the Field
The American Economic Review, 2022Identifying high-growth microentrepreneurs in low-income countries remains a challenge due to a scarcity of verifiable information. With a cash grant experiment in India we demonstrate that community knowledge can help target high-growth ...
Reshmaan N. Hussam +2 more
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ESG Disclosure, Market Forces, and Investment Efficiency
Social Science Research NetworkThis paper examines the impact of environmental, social, and governance (ESG) disclosure on firm investment. The analysis characterizes the optimal precision of ESG disclosure that channels investors’ tastes for ESG into firm investment. Although it is
Hao Xue
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Disentangling Moral Hazard and Adverse Selection
The American Economic ReviewWhile many real-world principal-agent problems have both moral hazard and adverse selection, existing tools largely analyze only one at a time. Do the insights from the separate analyses survive when the frictions are combined? We develop a simple method—
Hector Chade
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Monitoring Team Members: Information Waste and the Transparency Trap
Social Science Research NetworkIn a model of moral hazard in teams, we demonstrate that firms' concerns about low trust among teammates can justify two common but otherwise puzzling patterns: information waste and transparency trap.
Matteo Camboni, Michael Porcellacchia
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Do Ordeals Work for Selection Markets? Evidence from Health Insurance Auto-Enrollment
The American Economic ReviewAre application hassles, or “ordeals,” an effective way to limit public program enrollment? We provide new evidence by studying (removal of) an auto-enrollment policy for health insurance, adding an extra step to enroll.
Mark Shepard, Myles Wagner
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