Digital Commons Network^™

“Facilitate Then Curate: Highlighting Student & Bipoc Voices In The Library Collection With The Reading Resilience Project”, Kelly Blanchat

Library Staff Publications

No abstract provided.

Late Babylonian Administrative And Legal Texts, Concerning Craftsmen, From The Eanna Archive, Yuval Levavi, Elizabeth E. Payne

Yale Oriental Series

Yuval Levavi and Elizabeth E. Payne present 315 previously unpublished texts held in the Yale Babylonian Collection at the Yale Peabody Museum. The texts shed light on textile and metal workers in the Eanna temple in Uruk during the Neo-Babylonian Period, about 626 to 539 BCE. This volume of the Yale Oriental Series features a full edition of each text, including hand copies, transliterations, translations, and essential commentary, allowing unprecedented access to these primary sources.

A Non-Envelope Theorem With Linearly Homogeneous Constraints, Eduardo Dávila, Andreas Schaab

Cowles Foundation Discussion Papers

This paper shows that it is possible to define an unambiguous notion of the direct effect of a parameter perturbation on the value of an optimization problem’s objective away from an optimum for problems with linearly homogeneous constraints. This notion of the direct effect relies on reformulating the optimization problem using shares as choice variables, and has the interpretation of holding choice variables — when formulated as shares — fixed. This short paper contains one formal “non-envelope” theorem and four applications to i) consumer demand, ii) cost minimization, iii) planning in exchange economies, and iv) planning in production economies.

Ypfs Lessons Learned Oral History Project: An Interview With Bo Lundgren, Bo Lundgren, Maryann Haggerty

Documents

No abstract provided.

The Reallocation Effects Of Domestic Outsourcing, Mayara Felix, Michael B. Wong

Cowles Foundation Discussion Papers

This paper estimates the wage, employment, and reallocation effects of non-core activity outsourcing using Brazil’s unexpected 1993 court-ordered outsourcing legalization. We leverage North-South variation in pre-legalization court permissiveness and compare security guards to less affected occupations. We find that older incumbent security guards were adversely impacted through occupational layoffs, loss of firm-level wage premia, and exit from the occupation. At the same time, increased numbers of younger workers entered the formal sector and became employed at contract firms. On net, legalization increased guard employment by 5%, led by a 50% increase in employment for guards aged 18-24, and had no …

Banking – Past, Present And Future – Remarks By Deputy Governor Sharon Donnery At The Banking And Payments Federation Ireland, Sharon Donnery

Documents

No abstract provided.

Transesophageal Echocardiography During Prehospital Cardiopulmonary Resuscitation, Carlie Dominguez

Yale School of Medicine Physician Associate Program Theses

Cardiac arrest is a sudden, life-threatening emergency that demands rapid and effective intervention. Ultrasound is used during cardiac arrest to guide resuscitation, characterize cardiac rhythm, and possibly identify cardiac arrest etiology. However, it is associated with significant limitations. Transesophageal echocardiography is a type of ultrasound that overcomes the limitations associated with traditional ultrasound and provides unique advantages, including the ability to optimize chest compressions and provide continuous cardiac imaging throughout CPR. The aim of this study is to investigate whether the use of transesophageal echocardiography during prehospital resuscitation of adults experiencing nontraumatic out-of-hospital cardiac arrest improves the proportion of sustained …

Remarks By Vice Chairman Travis Hill At The American Enterprise Institute “Reflections On Bank Regulatory And Resolution Issues”, Travis Hill

Documents

No abstract provided.

Lessons Learned: Guillermo Ortiz Martínez, Mercedes Cardona

Journal of Financial Crises

Guillermo Ortiz Martínez served as undersecretary of finance and public credit in Mexico’s federal government from 1988 to 1994. He became secretary in December 1994 in the administration of Ernesto Zedillo and served until December 1997. As undersecretary, he was president of the bank privatization committee and the chief negotiator for Mexico during the North American Free Trade Agreement (NAFTA) negotiations in 1991 to 1993. He was governor of the Bank of Mexico from January 1998 to December 2009 and is currently partner and member of the board of BTG Pactual, a Brazilian investment bank. This Lesson Learned summary is …

Lessons Learned: Bo Lundgren, Maryann Haggerty

Journal of Financial Crises

Bo Lundgren was Sweden’s cabinet minister for fiscal and financial affairs from 1991 to 1994, making him a key leader in managing the nation’s severe financial crisis during those years. Lundgren had a decades-long political career as a member of the Swedish Parliament from 1975 to 2004, was leader of the Moderate Party (1999–2003), and vice president of the European People’s Party in the European Union. He also served from 2004 to 2013 as director general of the Swedish National Debt Office, the country’s central financial agency. Drawing on his experiences in the Swedish crisis, Lundgren has shared his views …

Lessons For The Discount Window From The March 2023 Bank Failures, Susan Mclaughlin

Journal of Financial Crises

The speed of the bank runs that occurred in the United States in March 2023 took most by surprise. The ensuing policy debate about reform has focused very little on the role of the Federal Reserve’s discount window and how it could be made more fit for purpose in mitigating risks to financial stability emanating from the banking system. Making the discount window a more effective financial stability tool will require actions both to reduce the stigma associated with borrowing and improve the operational agility and readiness of the Fed as lender and banks as borrowers. A number of frictions …

Federal Reserve: Conflicts Between Monetary Policy And Bank Regulation In Tackling Inflation, Aaron Klein

Journal of Financial Crises

COVID-19 was a worldwide economic shock, creating a global recession later followed by widespread inflation. The United States’s response to COVID was particularly aggressive across three dimensions: monetary, fiscal, and markets. The US economy generally outperformed other nations similarly impacted by COVID. However, the US experienced substantial instability in its banking sector in the spring of 2023. Multiple banks failed, resulting in the Federal Reserve and other government agencies invoking emergency authority designed to protect financial stability.

This paper argues that the Federal Reserve has unique responsibility for this banking crisis from its multiple roles as (1) conductor of monetary …

Ypfs Lessons Learned Oral History Project: An Interview With Andreas Verykios And Kostas Tsatsaronis, Andreas Verykios, Kostas Tsatsaronis, Mercedes Cardona

Documents

No abstract provided.

Inefficiencies Of Carbon Trading Markets, Nicola Borri, Yukun Liu, Aleh Tsyvinski, Xi Wu

Cowles Foundation Discussion Papers

The European Union Emission Trading System is a prominent market-based mechanism to reduce emissions. While the theory is well-understood, we are the first to study the whole cap-and-trade mechanism as a financial market. Analyzing the universe of transactions in 2005-2020 (more than one million records of granular transaction data), we show that this market features significant inefficiencies undermining its goals. First, about 40% of firms never trade in a given year. Second, many firms only trade during surrendering months, when compliance is immediate and prices are predictably high. Third, a number of operators engage in speculative trading, exploiting private information.

Ypfs Lessons Learned Oral History Project: An Interview With Daniela Klingebiel, Daniela Klingebiel, Yasemin Sim Esmen

Documents

No abstract provided.

A General Limit Theory For Nonlinear Functionals Of Nonstationary Time Series, Peter C. B. Phillips, Qiying Wang

Cowles Foundation Discussion Papers

New limit theory is provided for a wide class of sample variance and covariance functionals involving both nonstationary and stationary time series. Sample functionals of this type commonly appear in regression applications and the asymptotics are particularly relevant to estimation and inference in nonlinear nonstationary regressions that involve unit root, local unit root or fractional processes. The limit theory is unusually general in that it covers both parametric and nonparametric regressions. Self normalized versions of these statistics are considered that are useful in inference. Numerical evidence reveals interesting strong bimodality in the finite sample distributions of conventional self normalized statistics …

Intrahousehold Welfare: Theory And Application To Japanese Data, Pierre-André Chiappori, Costas Meghir, Yoko Okuyama

Cowles Foundation Discussion Papers

In this paper we develop a novel approach to measuring individual welfare within house-holds, recognizing that individuals may have both different preferences (particularly regarding public consumption) and differential access to resources. We construct a money metric mea-sure of welfare that accounts for public goods (by using personalized prices) and the allocation of time. We then use our conceptual framework to analyse intrahousehold inequality in Japan, allowing for the presence of two public goods: expenditures on children and other public goods including housing. We show empirically that women have much stronger preferences for both public goods and this has critical implications …

Central Bank Liquidity Policy In Modern Times, Skylar Brooks

Documents

No abstract provided.

Financial Stability Report 2024, Swiss National Bank

Documents

No abstract provided.

Investing In The Next Generation: The Long-Run Impacts Of A Liquidity Shock, Patrick Agte, Arielle Bernhardt, Erica Field, Rohini Pande, Natalia Rigol

Discussion Papers

Poor entrepreneurs must frequently choose between business investment and children’s education. To examine this trade-off, we exploit experimental variation in short-run microenterprise growth among a sample of Indian households and track children’s education and business outcomes over eleven years. Treated households, who experience higher initial microenterprise growth, invest more in education and are one-third more likely to send children to college. However, only literate households experience child schooling gains and their enterprises stagnate in the long-run. In contrast, illiterate treatment households experience long-run business gains but declines in children’s education. Our findings suggest that microenterprise growth has the potential to …

Variegated Order: Making Space For Neurodiverse Perspectives In Archives, Sophie Penniman

Journal of Contemporary Archival Studies

This article aims to envision how archives could better reflect and represent neurodivergent records creators—people whose brains function in ways that diverge significantly from dominant societal standards of “normal". It discusses how neurodivergent records creators and their recordkeeping behaviors often do not fit within traditional archival paradigms which center verbal, written, and linear documents in specific organizational systems. The article then brings together sources from disability studies, feminist and gender studies, library studies, literary analysis, and archival scholarship to imagine ways in which the principle of provenance could be expanded to fit the archives of neurodiverse creators (and archives that …

Limit Theory Of Local Polynomial Estimation In Functional Coefficient Regression, Ying Wang, Peter C. B. Phillips

Cowles Foundation Discussion Papers

Limit theory for functional coefficient cointegrating regression was recently found to be considerably more complex than earlier understood. The issues were explained and correct limit theory derived for the kernel weighted local constant estimator in Phillips and Wang (2023b). The present paper provides complete limit theory for the general kernel weighted local p-th order polynomial estimator of the functional coefficient and the coefficient deriva-tives. Both stationary and nonstationary regressors are allowed. Implications for bandwidth selection are discussed. An adaptive procedure to select the fit order p is proposed and found to work well. A robust t-ratio is constructed following the …

Strength Training Versus Aerobic Exercise On Glycemic Control In Adults With Type 1 Diabetes, Elizabeth Encarnacion

Yale School of Medicine Physician Associate Program Theses

Poorly controlled Type 1 Diabetes can lead to micro- and macrovascular complications (retinopathy, neuropathy, cardiovascular disease), but managing glycosylated hemoglobin A1c levels can decrease incidence rates. However, current guidelines recommending exercise for management have low evidence ratings, and less than one third of adults achieve target hemoglobin A1c levels. For those looking to begin an exercise regimen, it is unclear which type of exercise is best for maintaining glycemic control. This study will compare the effectiveness of thrice-weekly (45-minute) sessions for 12 months of aerobic exercise versus strength training against a non-exercise control group in non-active Type 1 Diabetic adults. …

Ypfs Lessons Learned Oral History Project: An Interview With Guillermo Ortiz Martínez, Guillermo Ortiz Martínez, Merecedes Cardona

Documents

No abstract provided.

Investor Presentation: May 2024, Fhlb Office Of Finance

Documents

No abstract provided.

Ypfs Lessons Learned Oral History Project: An Interview With Ignazio Angeloni, Ignazio Angeloni, Mercedes Cardona

Documents

No abstract provided.

Stride: A Tool-Assisted Llm Agent Framework For Strategic And Interactive Decision-Making, Chuanhao Li, Runhan Yang, Tiankai Li, Milad Bafarassat, Kourosh Sharifi, Dirk Bergemann, Zhuoran Yang

Cowles Foundation Discussion Papers

Large Language Models (LLMs) like GPT-4 have revolutionized natural language processing, showing remarkable linguistic proficiency and reasoning capabilities. However, their application in strategic multi-agent decision-making environments is hampered by significant limitations including poor mathematical reasoning, difficulty in following instructions, and a tendency to generate incorrect information. These deficiencies hinder their performance in strategic and interactive tasks that demand adherence to nuanced game rules, long-term planning, exploration in unknown environments, and anticipation of opponents’ moves. To overcome these obstacles, this paper presents a novel LLM agent framework equipped with memory and specialized tools to enhance their strategic decision-making capabilities. We deploy …

Algorithm As Experiment: Machine Learning, Market Design, And Policy Eligibility Rules, Yusuke Narita, Kohei Yata

Cowles Foundation Discussion Papers

Algorithms make a growing portion of policy and business decisions. We develop a treatment-effect estimator using algorithmic decisions as instruments for a class of stochastic and deterministic algorithms. Our estimator is consistent and asymptotically normal for well-defined causal effects. A special case of our setup is multidimensional regression discontinuity designs with complex boundaries. We apply our estimator to evaluate the Coronavirus Aid, Relief, and Economic Security Act, which allocated many billions of dollars worth of relief funding to hospitals via an algorithmic rule. The funding is shown to have little effect on COVID-19-related hospital activities. Naive estimates exhibit selection bias.

Report Cards: Parental Preferences, Information And School Choice In Haiti, Michael Borger, Gregory Elacqua, Isabel Jacas, Christopher Neilson, Anne Sofie Westh Olsen

Discussion Papers

This paper studies school choice and information frictions in Haiti. Through a randomized control trial, we assess the impact of disclosing school-level test score information on learning outcomes, prices, and market shares. We find evidence that in markets where information was disclosed, students attending private schools increased test scores. The results also suggest private schools with higher baseline test scores increased their market share as well as their fees when the disclosure policy is implemented. While prices and test scores were not significantly correlated in the baseline survey, they exhibited a significant and positive correlation in treatment markets after information …

Comptroller's Handbook: Liquidity, United States: Department Of The Treasury: Office Of The Comptroller Of The Currency (Occ)

Documents

No abstract provided.