Search Results

(refine search)

SORT BY: PREVIOUS / NEXT

All:
Title:
Author:
Abstract:
Keywords:

+ Add Search Parameter

Working Paper
The Monetization of Innovation
Warusawitharana, Missaka; Zucchi, Francesca (2022-12)
We develop a dynamic model for digital service firms, which invest in monetization to generate revenues from services provided to customers for free. Our model captures and explains why such firms often build a large customer base and become highly valued while continuing to suffer losses—traditional models would struggle to explain this pattern. Counterfactual analysis reveals that monetization uncertainty slows technological advancement by diverting resources away from innovation. We also show that regulation aimed at protecting user privacy has sizable adverse effect on firm size and the ...
Finance and Economics Discussion Series , Paper 2022-084

Working Paper
Financial development and long-run volatility trends
Wen, Yi; Wang, Pengfei; Xu, Zhiwei (2013)
Countries with more developed financial markets tend to have significantly lower aggregate volatility. This relationship is also highly non-linear starting from a low level of financial development the reduction in aggregate volatility is far more significant with respect to financial deepening than when the financial market is more developed. We build a fully-edged heterogeneous-agent model with an endogenous financial market of private credit and debt to rationalize these stylized facts. We show how financial development that promotes better credit allocations under more relaxed borrowing ...
Working Papers , Paper 2013-003

Speech
Enhancing financial stability by improving culture in the financial services industry
Dudley, William (2014-10-20)
Remarks at the Workshop on Reforming Culture and Behavior in the Financial Services Industry, Federal Reserve Bank of New York, New York City.
Speech , Paper 147

Speech
Opening remarks at reforming culture and behavior in the financial services industry: workshop on progress and challenges
Dudley, William (2015-11-05)
Opening Remarks at Reforming Culture and Behavior in the Financial Services Industry: Workshop on Progress and Challenges, Federal Reserve Bank of New York, New York City.
Speech , Paper 184

Speech
Opening remarks at the Workshop on Reforming Culture and Behavior in the Financial Services Industry.
Dudley, William (2014-10-20)
Remarks at the Workshop on Reforming Culture and Behavior in the Financial Services Industry, Federal Reserve Bank of New York, New York City.
Speech , Paper 148

Working Paper
Creative Destruction and the Reallocation of Capital in Rural and Urban Areas
Brown, Jason; Lambert, Dayton (2024-10-22)
We test the implications of Schumpeter’s theory of creative destruction on food manufacturer births and deaths using a dynamic, unobserved effects count model with correlated random effects. We find evidence of a creative destruction process via the interaction of previous firm birth and death, which is correlated with higher rates of contemporaneous firm birth and death in a given location. Results support Marshall’s notion of “something is in the air,” as evidenced by the strong correlation between sources of unobserved heterogeneity in the birth and death processes. Consistent with ...
Research Working Paper , Paper RWP 24-11

Working Paper
Training and Search on the Job
Lentz, Rasmus; Roys, Nicolas (2015-10-30)
The paper studies human capital accumulation over workers? careers in an on the job search setting with heterogenous firms. In renegotiation proof employment con- tracts, more productive firms provide more training. Both general and specific training induce higher wages within jobs, and with future employers, even conditional on the future employer type. Because matches do not internalize the specific capital loss from employer changes, specific human capital can be over-accumulated, more so in low type firms. While validating the Acemoglu and Pischke (1999) mechanisms, the analysis ...
Working Papers , Paper 2016-25

show more (44)

PREVIOUS / NEXT

Fed in Print

Search Results

FILTER BY year

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

FILTER BY Keywords