Join us to hear from Jason Brown, Federal Reserve Bank of Kansas City. presenting, "Economic Benefits and Social Costs of Legalizing Recreational Marijuana". 

Abstract: We analyze the effects of legalizing recreational marijuana on state economic and social outcomes (2000–20) using difference-in-differences estimation robust to staggered timing and heterogeneity of treatment. We find moderate economic gains and accompanied by some social costs. Post-legalization, average state income grew by 3...

Join us to hear from Chuck Fang, Drexel University.  His presentation is titled, "Monetary Policy Transmissions through Bond Fund Flows". 

Abstract: I show that bond mutual funds and ETFs (“bond funds”) amplify the bond market transmission of monetary policy. During monetary tightening, bond funds experience large outflows of return-chasing capital and scale down their bond holdings much more than traditional bond investors such as insurance companies. In the cross section of firms, in response...

Join us to hear from Ben Marx, University of Illinois Urbana-Champaign, presenting, "Disparities in Aid for Natural Disasters".

Abstract: Private transfers of aid provide ex-post support to victims of risky events, but the social insurance value of these transfers depends on how they vary with severity of the event and victim characteristics. Using detailed daily data on donations to the American Red Cross, we study patterns of natural-disaster giving using a heterogeneity robust difference-in...

Boli Xu is an Assistant Professor of Economics at the Tippie College of Business. He will be discussing "Reserve Price Signaling with Public Information: Evidence from Online Auto Auctions."

Abstract: This paper considers an auction model in which a seller’s choice of reserve price signals her private information about the object’s quality. We show that the signaling incentive would lower the seller’s payoff and the probability of sale. We estimate the model using a novel dataset from a large...

Join us to hear from Yi Hao, University of Iowa. The Clarence Tow Lectures in Finance Series brings high-profile researchers to Tippie College of Business to present to an audience of faculty, PhD students, and researchers from around the University of Iowa.

Join us to hear from Huiyi Guo, Texas A&M University, presenting, "Learning by Consuming: Optimal Pricing for a Divisible Good". 

Abstract
We study the revenue-maximizing mechanism when a buyer’s value evolves because
of learning-by-consuming. The buyer chooses the initial consumption based on his rough
valuation. Consuming more induces a finer valuation estimate, after which he determines
the final consumption. The seller faces the tradeoff that selling more initially makes selling
the...