Five things the French and German recovery plans have in common (and what’s missing)
France and Germany have announced big recovery plans. Simeon Djankov looks at what they have in common – and what’s missing from both.
Information Dispersion across Employees and Stock Returns
The Review of Financial Studies, 34(10), 4785–4831.
Firms in emerging markets fall to COVID-19
Young, small, and domestic market-oriented firms are more likely to fall into financial distress.
Reform chatter and democracy
It is often argued that democracy is the least imperfect form of government mainly because of the existence of a ‘self-correcting’ mechanism stemming...
Support for small businesses amid COVID-19
A sizeable proportion of enterprises, especially SMEs, in receipt of financial assistance from the government will fail to repay. This column asks...
Time inconsistency in recent monetary policy
A decade of near-zero, and even negative, interest rates in advanced economies has both encouraged the continued accumulation of debt and a search for...
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...
Coronavirus panic fuels a surge in cash demand
Despite regular reports in the media over the past decade on the imminent death of cash amid rapid innovation in payment technologies, cash in...
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...
Reform Chatter and Democracy
We explore the dynamics of media chatter about economic reforms using text analysis from about a billion newspaper articles in 28 languages. We show...
The neighbourhood effect of reforms after crises
Countries reform when their neighbours have reformed too, especially in the aftermath of economic crises. This column examines business regulatory...
Less red tape, more local entrepreneurship and foreign direct investment: the path to recovery
More flexible business regulation encourages both the development of startups and the inflow of foreign investment, write Simeon Djankov, Dorina...
Asset Pricing with Index Investing
We theoretically analyze how index investing affects financial markets using a dynamic exchange economy with heterogeneous investors and two Lucas...
COVID-19 in Developing Economies
At the beginning of the COVID-19 pandemic, it was hoped that warm weather and younger populations would shield many developing countries from the...
Reversal of Fortune for Political Incumbents after Oil Shocks
This paper explores the effect of oil shocks on electoral outcomes. Using a new polling and election dataset for 207 elections across 50 democracies...
COVID-19: an opportunity to digitise property transactions
Online transactions bring speed and cost efficiency, fostering the expansion of the real estate market, write Marie Delion and Simeon Djankov.
