Vaccine challenges
Last week brought welcome news about the apparent effectiveness of a potential Covid-19 vaccine. While the challenges of manufacturing and...
Financial policymaking after crises: Public versus private interest
Financial crises invariably lead governments to intervene in one way or another, whether to ease the damage to middle-class voters, to respond to the...
Revenge of the Experts: Will COVID-19 Renew or Diminish Public Trust in Science?
It is sometimes said that an effect of the COVID-19 pandemic will be heightened appreciation of the importance of scientific research and expertise...
Domestic Banks As Lightning Rods? Home Bias and Information during the Eurozone Crisis
Journal of Money, Credit and Banking, Volume 52, 2020,12744.
Financial Policymaking after Crises: Public vs. Private Interests
What drives actual government policies after financial crises? In this paper, we first present a simple model of post-crisis policymaking driven by...
The Spread of COVID-19 in London: Network Effects and Optimal Lockdowns
We generalise a stochastic version of the workhorse SIR (Susceptible-Infectious- Removed) epidemiological model to account for spatial dynamics...
Who Bears Risk in China’s Non-financial Enterprise Debt?
This paper analyses of how risk is allocated in China’s markets for debt issued by non-financial enterprises. Compared to other major corporate bond...
Firms in Financial Distress
We use simple accounting measures to estimate the share of private manufacturing firms in financial distress under a hypothetical scenario of losing...
Firms in Financial Distress
We use simple accounting measures to estimate the share of private manufacturing firms in financial distress under a hypothetical scenario of losing...
The political scar of epidemics
What will be the political legacy of the COVID-19 pandemic? This column uses data from the 2006-2018 Gallup World Polls to show that epidemic exposure...
The Political Scar of Epidemics
What will be the political legacy of the Coronavirus pandemic? We find that epidemic exposure in an individual’s “impressionable years” (ages 18 to 25...
Revenge of the experts: Will COVID-19 renew or diminish trust in science?
It is argued that COVID-19 will reverse the ongoing trend of challenging the value of science and the integrity of scientists. This column shows that...
COVID-19: A Double Whammy of Financial and Economic Sudden Stops for Emerging Economies
While it is too early to say how the disruptions caused by the COVID-19 pandemic will ultimately affect emerging market economies (EMs), experience...
Revenge of the Experts: Will COVID-19 Renew or Diminish Public Trust in Science?
An effect of the COVID-19 pandemic, it is sometimes suggested, will be to reverse the secular trend toward questioning the value of scientific...
Survival of Firms during Economic Crisis
We estimate the survival time of nearly 7,000 firms in a dozen of high-income and middle-income countries in a scenario of extreme economic distress...
The need to issue long-dated gilts
The COVID-19 crisis presents a multi-faceted challenge to policymakers. A combination of declining commodity prices, the rise in unemployment, and...
