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The value of a firm’s securities measures the value of the firm’s productive assets. If the assets include only capital goods and not a permanent monopoly franchise, the value of the securities measur...
Foreign participation in local-currency-bond markets in emerging countries has increased dramatically over the past decade. In light of this trend, we revisit the question of the optimal exchange-rate...
Using panel data from the RAND Health and Retirement Study, I show that rejected applicants for Social Security Disability Insurance (SSDI) possess significantly more assets immediately prior to their...
Examines the accumulation of foreign currency reserve assets and explore its implications for monetary policy, global financial markets and the U.S. economy. Explanation on the simplified central bank...
During Enrico Mattei’s chairmanship, AGIP achieved important results in the natural gas business by completing a slow process of capabilities assimilation begun in the 1930s through the firm’s activit...

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