Some Evidence of Regulatory Convergence
We find some evidence of regulatory convergence in four distinct areas of business activity over the 2005-2019 period. This convergence is most...
The loss of human capital in Ukraine
School disruptions due to war, pandemics, or natural disasters can have persistent negative effects on learning outcomes. This column estimates the...
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Public Procurement in Law and Practice
American Economic Review, 112 (4), 1091-1117
Facing the refugee challenge: a view from Moldova
The European Union and the International Monetary Fund have been deploying resources to help Moldova cope with an influx of refugees that represents...
Technology as Deregulation
We present suggestive evidence that new technology has reduced business regulation globally over the 2005-2019 period, in the areas of paying...
Post-Corona balanced budget fiscal stimulus: The case for shifting taxes onto land
Land’s share in economies’ nonfinancial assets equals between 40% and 60%, and in the US currently equals over 50%. This constitutes a very large base...
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Inflating Away the Public Debt? An Empirical Assessment
The Review of Financial Studies, 35 (3), 1553-1595
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Measuring the ex-ante incentive effects of creditor control rights during bankruptcy reorganization
Journal of Financial Economics, 143 (1), 381-408
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Exchange Rate Exposure and Firm Dynamics
The Review of Economic Studies, 89 (1), 481-514
Why some nations’ labour markets did better during the pandemic
Leaving human capital out of policy discussions might lead to incorrect inferences about which measures were most successful during the pandemic...
High-cost debt and perceived creditworthiness: Evidence from the UK
Journal of Financial Economics, 142 (2), 719-736
Cleansing by Tight Credit: Rational Cycles and Endogenous Lending Standards
Endogenous cycles are generated by the two-way interaction between lenders’ behavior in the credit market and production fundamentals. When lenders...
The new global tax deal arrives (but expect bumps ahead)
Nearly 140 countries have agreed to a new global tax deal, which was years in the making. Estonia, Hungary and Ireland, the last holdouts, joined the...
