Publications

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...

The Review of Financial Studies, 31 (4), 1566–1603

Journal of Finance, 73 (1), 419-464.

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...