The Gender Gap in Household Bargaining Power: A Revealed-Preference Approach
When members of the same household have different risk preferences, whose preference matters more for investment decisions and why? We propose an...
How AI can undermine financial stability
As artificial intelligence makes inroads into the financial system, it exacerbates existing channels of instability and creates new ones. This column...
The Market Cost of Business Cycle Fluctuations
We propose a novel approach to measure the costs of aggregate economic fluctuations, that does not require specification of preferences or the data...
Putting the Price in Asset Pricing
We propose a novel way to estimate a portfolio’s abnormal price, the percentage gap between price and the present value of dividends computed with a...
The meandering path of gender reform in Africa
Informality prevails in Africa, especially among women. Eighty-eight per cent of working African women were employed in the informal economy in 2022...
Long-Horizon Exchange Rate Expectations
We study exchange rate expectations in surveys of financial professionals and find that they successfully forecast currency appreciation at the two...
All The President’s Money: Market Concentration, Oligarchs and Sanctions in Hybrid Regimes
Hybrid regimes feature combinations of democratic and autocratic attributes. Their common element is a leader who cultivates a clientele of favored...
The calming of short-term market fear and its long-term consequences: The central banks’ dilemma
Gender-based violence blocks Pakistan’s economic development
Despite some advances in women’s rights in Pakistan, economic and political unrest has increased gender-based violence in the country. A system of...
A growth plan for Greece
In January 2020, the Greek government appointed a Commission to propose a growth plan for the Greek economy. The Pissarides Commission produced a...
A Growth Strategy for the Greek Economy
The Greek government appointed in January 2020 a Commission chaired by Nobel Prize winner Christopher Pissarides to propose a growth plan. The...
An Unconventional FX Tail Risk Story
We examine how the tail risk of currency returns over the past 20 years were impacted by central bank (monetary and liquidity) measures across the...
The Uneven Path Towards Women’s Rights in Argentina
Argentina’s progress towards legal equality for women has been slower than in most other Latin American countries. In 1971 Argentina’s score of 31 on...