Stylised facts on the effectiveness of macroprudential policy
This policy note summarises the main empirical findings on the effectiveness of macroprudential policy: macroprudential policy contributes to a...
Low Rates and Bank Loan Supply: Theory and Evidence from Japan
In this paper, we explore the consequences of low nominal interest rates for credit supply, macroeconomic outcomes and policy. Using the protracted...
The Gap between Law and Practice in Pakistan’s Gender Reform
In the three-quarters of a century since Pakistan’s independence, parliament has adopted various laws in a bid to improve women’s legal rights. Many...
The Supply and Demand for Data Privacy: Evidence from Mobile Apps
This paper investigates how consumers and investors react to the standardized disclosure of data privacy practices. Since December 2020, Apple has...
Gender Promotion Gaps: Career Aspirations and Workplace Discrimination
Using a representative survey of U.S. lawyers, we document a sizeable gender gap in early partnership aspirations, which explains half of the later...
The cost of the Kakhovka Dam destruction
The destruction of the Kakhovka Dam in June 2023 has resulted in significant economic and environmental losses. This catastrophe impacts the lives of...
Volatility and dark trading: Evidence from the Covid-19 pandemic
The British Accounting Review, 55 (4),101171
The role of finance in improving household health
Increased access to financial services after the expansion of banks in India improved household health outcomes.
Firms’ Transition to Green: Innovation versus Lobbying
Innovation in green technologies is viewed as a crucial driver of the transition to greener modes of production and consumption. However, there is...
Timing Complex News to Target Attention
Investors have limited and time-varying attention. These constraints are heterogeneous across investors, which can create asymmetric information and...
The gap between law and practice in gender rights
In the past century, legal reforms for women’s rights improved economic and social outcomes for women and for society as a whole around the world...
The Halting Gender Reforms in Burundi
In the sixty years since its independence Burundi has taken some steps to improve the legal standing of women in the economy and society. These steps...
Why Do Boards Exist? Governance Design in the Absence of Corporate Law
Review of Financial Studies, 36 (5),1788–1836
Gender Legal Reform in Zimbabwe: Wanting
Zimbabwe has introduced some legal reforms towards women’s rights in the first three dozen years since its independence in 1980, though these changes...
Towards a new tax system in Ukraine
Ukraine’s tax system functions primarily on the basis of unofficial rules of tax collection. This divergence between law and practice predates Russia...
Gender Legal Reforms in Zambia: Motivated by International Conventions
In 2023, Zambia ranked 17th among African countries on the World Bank’s Women Business and the Law index, a notable decline over a half century. The...