Loan guarantees are popular policy responses during the COVID-19 crisis. Despite their prevalence, evidence of their effectiveness is sparse. We...
In the 30 years since the fall of communism, the countries of the former Soviet bloc and Yugoslavia have undergone tremendous change. Income per...
Rank-and-file employees are becoming increasingly critical for many firms, yet we know little about how their employment dynamics matter for stock...
Students around the world are going to school but are not learning – an emerging gap in human capital formation. To understand this gap, we introduce...
We show that Eastern Orthodox believers are less happy compared to those of Catholic and Protestant faith using data covering more than 100 countries...
Using panel data for 189 economies from 2004 to 2016, we show that business-friendly regulations are correlated with the poverty headcount at the...
This paper revisits the relationship between firm performance and CEO turnover. We drop the distinction between forced and voluntary turnovers and...
Using panel data for 189 economies from 2004 to 2016, we show that regulatory reform is associated with periods of fiscal imbalances. This association...
This discussion paper examines evidence from 39 economies where cuts in the corporate income tax rate have been implemented since 1986. The paper also...
In March 2017 the UK government will apply for Article 50 of the Lisbon Treaty to end its membership in the European Union. This unprecedented step...
We study managerial incentive provision under moral hazard in a firm subject to stochastic growth opportunities. In our model, managers are dismissed...
