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Senior Fellows/Fellows

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Senior Fellows/Fellows

Death by Pokemon GO: The Economic and Human Cost of Using Apps While Driving

John J. MCCONNELL, Mara FACCIO
Based on detailed police accident reports for Tippecanoe County, Indiana, and using the introduction of the virtual reality game Pokémon GO as a natural experiment, we document a disproportionate increase in vehicular crashes and associated vehicular damage, personal injuries, and fatalities in the...
Keywords: Vehicular Crashes, Cost of Users Playing Pokémon GO While Driving
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Annual Conference

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Corporate Finance, Senior Fellows/Fellows

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May 2015

Death by Committee? An Analysis of Corporate Board (Sub)-Committees

Renee B. ADAMS, Vanitha RAGUNATHAN, Robert TUMARKIN
Theoretical models of groups suggest that sub-group usage can affect communication among members and group decision-making. To examine the trade-offs from forming sub-groups, we assemble a detailed dataset on corporate boards (groups) and committees (sub-groups). Boards have increasingly used commit...
Keywords: board of directors, Committee, Decision-Making, Sarbanes-Oxley
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Senior Fellows/Fellows

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Senior Fellows/Fellows, 2017

Currency Wars-Unconventional Monetary Policy Does Not Stimulate Exports

Andrew K. ROSE
I investigate whether countries that use unconventional monetary policy (UMP) experience export booms. I use a popular gravity model of trade which requires neither the exogeneity of UMP, nor instrumental variables for UMP. In practice, countries that engage in UMP experience a drop in exports vis-Ã...
Keywords: quantitative, easing, negative, nominal, interest, trade, gravity, bilateral, data, empirical
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Annual Conference

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International Macroeconomics, Money & Banking, Senior Fellows/Fellows

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May 2022

Currency Risk in the Long Run

Pasquale Della CORTE, Giorgio VALENTE, Can GAO, Daniel P.A. PREVE
We study the long-horizon risk profile of a currency strategy, whereby a US investor earns excess returns by entering in an unhedged long position in a foreign long-term bond funded at the domestic risk-free rate. After showing the drivers of the strategy returns, we derive and estimate their long-h...
Keywords: Currency risk, Long-term bonds, Predictability, Long-term investments
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Annual Conference

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Investment Finance, Senior Fellows/Fellows

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May 2022

Currency Management by International Fixed Income Mutual Funds

Clemens SIALM, Qifei ZHU
Investments in international fixed income securities are exposed to significant currency risks. We collect novel data on mutual fund currency derivatives and document that around 90% of U.S. international fixed income funds use currency forwards to manage their foreign exchange exposure. Funds’ cu...
Keywords: currency risk, forward contracts, mutual funds, fixed-income securities, performance
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