Influential research by members of the Financial Markets Group has been published in some of the most recognised international journals in the field.
Click to see a collection of notable FMG working papers which have been published in American Economic Review, Econometrica, Journal of Finance, Journal of Financial Economics, Journal of Political Economy, Quarterly Journal of Economics, Review of Economic Studies, and Review of Financial Studies.
Higher-Order Uncertainty in Financial Markets: Evidence from a Consensus Pricing Service
We assess the ability of an information aggregation mechanism that operates in the over-the-counter market for financial derivatives to reduce...
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.
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...
Inflation after the pandemic: Theory and practice
The correlation between monetary growth and inflation has an historic pedigree as long as your arm. This column argues that rejecting the likelihood...
Regulatory reforms: the silver lining after COVID-19
Fiscal crises spur regulatory reform, which, in turn, speed up economic recovery, write Simeon Djankov, Dorina Georgieva and Hibret Maemir.
How governments can ease the entry of ‘recovery entrepreneurs'
Crises bring creative destruction. It's time to help new companies and job opportunities emerge, write Simeon Djankov and Frederic Meunier.
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...
Gendered Laws And Women In The Workforce
This paper offers for the first time a global picture of gender discrimination by the law as it affects women’s economic opportunity and charts the...
Regulatory Reforms after Covid
Fiscal crises, particularly following a pandemic of the magnitude of Covid-19, spur regulatory reform, for example in registering property, trading...
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...
The Economic Risk of COVID-19 in Developing Countries: Where is it Highest?
We measure the economic risk of COVID-19 in developing countries using pre- pandemic data sources. Following the standard conceptual model of...
