December 28, 2016

CSSRR Economics–December 28, 2016

Filed under: E. Working Papers,Economics — admin @ 4:33 pm

Asian Development Bank: ADB has recently released the following working papers:


NEW: No. 505 “Do Natural Disasters Change Savings and Employment Choices? Evidence from Bangladesh and Pakistan,” by Shaikh M.S.U. Eskander, Samuel Fankhauser, and Shikha Jha.

No. 504 “The Economics of Greenhouse Gas Mitigation in Developing Asia,” by Lara Aleluia Reis, Johannes Emmerling, Massimo Tavoni, and David Raitzer.


Federal Deposit Insurance Corporation Working Paper: “Information Acquisition in Antebellum U.S. Credit Markets: Evidence from Nineteenth-Century Credit Reports,” by Claire Brennecke (WP2016-04, September 2016, .pdf format, 44p.).


If a lender can easily obtain more information about a borrower, under what conditions will he choose to do so? In this paper, I use a hand-collected set of records from the nineteenth century credit reporting agency, R.G. Dun & Company, that allows me to directly observe when lenders acquired information about their borrowers. I find evidence that lenders did not always seek information even though it was inexpensive and easily available. Instead, lenders were more likely to start accessing the reports for a borrower after they heard bad news, be it aggregate or borrower-specific. These results show that lenders require relatively more information about borrowers during an economic downturn, suggesting that information constraints likely play a more important role in credit market outcomes during these times. Furthermore, lenders responded to bad news about a borrower in their loan portfolio by acquiring information about other borrowers. This result sheds light on how one default can affect the larger credit network through contagious information acquisition.



Inter-American Development Bank Working Paper:


NEW: No. 763 “Macroeconomic Fluctuations Under Natural Disaster Shocks in Central America and the Caribbean,” by Allan Wright and Patrice Borda.


International Monetary Fund: IMF has recently added new working papers. The papers are No. 16/215, 16/240 to 16/255.



Levy Economics Institute (Bard College) Working Paper: “Distribution-led Growth through Methodological Lenses,” by Michalis Nikiforos (Working Paper No. 879, December 2016, .pdf format, 40p.). Note: Links to the abstract and the full text of the paper available at:



Working Papers: New Economic Papers (NEP)-ALL. The latest list of New Economic Papers is dated December 18, 2016.


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