The anticipation of a future bailout of distressed firms worsens ex ante adverse selection, causing a market freeze at present and inviting government intervention ("bailout trap"). When firms of heterogenous qualities raise financing, high-quality firms are willing to bear adverse selection...

The development landscape has never been static but in these times of uncertainty and insecurity, we are witnessing ever more profound shifts in global relations, inequalities, and forms of exclusion. Dominant trajectories and paths of ‘development’ have led the world to the brink of...

SIPP is a nationally representative longitudinal survey that provides comprehensive information on the dynamics of income, employment, household composition, and government program participation. It offers a rich variety of information, allowing for examinations of: - Adult and child...

Andreas Fuster is an Associate Professor of Finance and SFI Senior Chair at Swiss Finance Institute @ EPFL and a Research Fellow at the CEPR (Centre for Economic Policy Research). His main research interests are in empirical finance (household finance, real estate finance, banking),...

The aim of the conference is to build bridges between the trade union movement and the post- and de-growth community, and to situate a transformative just transition vision within the ‘beyond growth’ narrative. It should prompt reflection on how the (contested) concept of just transition and...

This paper develops a new class of poverty and inequality measures we call common prosperity. This measure complements existing classes of measures and allows decomposition across income sources or components of consumption expenditure. This framework enables us to study the trade-off between...

This workshop aims to provide a discussion forum on innovative research and to promote the exchange of views for issues related to central banking among researchers of the Bank of Albania, other central banks, academia and other research institutions. Topics of interest: - What causes inflation?...

The Wittgenstein Centre Conference 2022 aims to bring together researchers from around the world, focusing on demography and climate change from diverse perspectives, including - but not limited - to demography, economics, sociology, environmental sciences and geography. Contributions with a...

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...