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Many central banks have adopted a formal inflation-targeting framework based on the belief and the theoretical predictions that an explicit and clearly communicated numerical objective for the level of inflation over a specified period would, in itself, be a strong communication device that would help anchor long-term inflation expectations. 1 Empirically(More)
We construct an empirical measure of market frictions in the corporate market based on the difference between the credit default swap spread and the corporate bond spread (referred to as the basis) for a large number of firms in a new, large dataset that we construct. Under fairly standard assumptions, the two spreads should be equal; if they diverge, we(More)
  • Andrew Marder
  • 2015
Does gamification work? This paper examines how Stack Overflow users behave when earning badges. A regression analysis of user activity logs shows users change their contribution amounts when earning some badges but not others. This paper adds new support to the growing literature that gamification works, but its efficacy is context-dependent [1].(More)
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