Do banks price the risk of stranded fossil fuel reserves? To address this question, we hand collect global data on corporate fossil fuel reserves, match it with syndicated loans, and subsequently compare the loan rate charged to fossil fuel firms — along their climate policy exposure — to...

Real exchange rates in the transition region have been relatively volatile over the past two decades, with major variation across countries and over time. In most countries, there was a shift between the pre-global crisis period, when the region saw significant real appreciation of currencies,...

We study firm dynamics in Korea before and after the 1997-98 Asian crisis and pro-competitive reforms that reduced the dominance of chaebols. We find that in industries that were dominated by chaebols before the crisis, labor productivity and TFP of non-chaebol firms increased markedly after the...

Statistical power is an important detail to consider in the design phase of any experiment. This note serves as a reference for experimental economists on power calculations. We synthesize many of the questions and issues frequently brought up regarding power calculations and the literature that...

Can seemingly unimportant factors influence voting decisions by making certain issues salient? We study this question in the context of Argentina 2015 presidential elections by examining how the quality of the infrastructure of the school where citizens were assigned to vote influenced their...

This paper investigates the impact of education reforms in Estonia on adult skills, using the PIAAC surveys conducted by the OECD. Estonia implemented comprehensive education reforms in the early 1990s throughout Estonian-speaking schools while in Russian-speaking schools less comprehensive...

This paper argues that inflows of foreign direct investment can facilitate export upgrading in host countries. Using customs data merged with firm-level information for 2005-2011, it shows a positive relationship between the quality of products exported by Romanian firms and the presence of...

We study the impact of the recent migration crisis on entrepreneurship in transit countries using a unique locality-level panel from the 2010 and 2016 rounds of the Life in Transition Survey for 18 European countries. To capture the exogenous variation in exposure to transit migration, we...

We use unique firm-level data on management practices and energy expenditures in about 2,000 manufacturing firms in central and eastern Europe, Central Asia and Middle East and North Africa to examine how the quality of management practices relates to the energy intensity of firms in the...

How does economic hardship affect social preferences? Do people feel more solidarity with one another, as often happens after natural disasters? Or does it reduce pro-sociality by making social divisions more salient? We address these questions by analysing the social effects of economic...