We document the presence of significant liquidity costs in Spanish sovereign debt auctions: the larger the auctioned amounts, the lower the issuance price relative to secondary market prices. Motivated by this evidence, we characterize the optimal debt-maturity management problem of a government...

This essay studies China’s bond market development by reviewing the main characteristics of the onshore market and important liberalization steps. It also describes recent trends in debt portfolio investment flows into China by non-resident investors. The simple theoretical framework for push...

Do sanctions strengthen the targeted regime? I analyze the 2014 imposition of Western sanctions on Russia and its impact on voting. The United States and the European Union introduced targeted measures against Russian entities and individuals related to President Putin’s regime. Using polling...

Climate change is one of the greatest economic challenges of our time. Given the scale of the problem, the question of whether a carbon tax should be introduced is hotly-debated in policy circles. This paper studies the design of a carbon tax when environmental factors, such as air...

How important is a relationship with a bank to a firm’s performance and survival? If firms can easily switch among different sources of credit supply, then the loss of any one source may have little implication for the firms that have borrowed from that source. However, to the extent that...

The 2021 Conference Main Theme is “Inclusive Entrepreneurship”. Inclusive entrepreneurship aims to contribute to social inclusion to give all people an equal opportunity to start up and operate businesses. However, there are many socio-economic and structural barriers for individuals into...

Quantitative, qualitative and conceptual papers are welcome for the following theme tracks: CONFERENCE THEME: Entrepreneurship in the digital era; SPECIAL ISSUE THEME: How to develop entrepreneurial skills? The role of education; - Opportunity generation and early business development; - Business...

Due to the uncertainty created by the COVID-19 pandemic, on the 19th of May we made the heavy decision to cancel the physical ESU week in Helsinki. In its place, as a demonstration that the ESU network remains active even during turbulent times, a webinar consisting of select elements of the...

Quantitative, qualitative and conceptual papers are welcome for the following theme tracks: 1. CONFERENCE THEME: Uncertainty and entrepreneurship 2. SPECIAL ISSUE THEME: Concepts & Facets of entrepreneurial diversity 3. Opportunity generation and early business development 4. Business models...

Doctoral candidates interested in attending and presenting their research proposal (not the result of completed research) should send a two page abstract including information on when they commenced their Ph.D. study and when they expect to complete. The abstract should be organized according to...