Entrepreneurship, growth and total factor productivity are larger when there is a financial bubble. We explain these facts using a growth model with financial bubbles in which individuals face heterogeneous wages and returns on productive investment. The heterogeneity in the return of investment...

We estimate short- and long-term causal impacts of a type-2 diabetes mellitus (T2DM) diagnosis on lifestyle behaviours. We employ a fuzzy regression discontinuity design exploiting the exogenous cut-off value in the diagnosis of T2DM provided by a biomarker (glycated haemoglobin, HbA1c). We make...

Firms often try to influence individuals that, like regulators, are tasked with advising or deciding on behalf of a third party. In a dynamic regulatory setting, we show that a firm may prefer to capture regulators through the promise of a lucrative future job opportunity (i.e., the...

We study the relationship between segregation and preferences for redistribution in Europe. We measure segregation as the incidence of assortative mating in terms of education and occupation. Assortative mating is measured at the regional level for 10 European countries using the IPUMS data. We...

We use data from 14 European countries and provide evidence that the fall in prices of information and communication technologies (ICT) is associated with a significant increase in the share of employees who work from home. Similar results hold within age, gender, and occupation groups. There...

Firm investment, Intangible assets, Loan terms, Credit constraint, Survey data, Instrumental variable approachUsing European firm-level data from a new survey, the EIBIS, we document the effect of bank loan terms on investment in intangible assets of non-financial corporations. We show that...

Assessing climate change risks at the country levelThe EIB Climate Change Risk Country Scoring Model provides a way to comprehensively assess the climate change risks faced by more than 180 countries. The two sets of scores for physical and transition risks aggregate exposures to various risk...

Capitalising on the productivity decomposition proposed by Olley and Pakes (1996), we analyse the role of financial factors behind the relatively muted post-crisis rebound in productivity compared to previous upturns in Europe. Firstly, we provide an OLS-consistent framework to decompose...

In an information graph situation, some agents that are connected by an undirected graph can share with no cost some information or technology that can also be obtained from a source. If an agent is not connected to an informed player, this agent pays a unitary cost to obtain this technology. A...

We estimate a FAVAR with Bayesian techniques in order to investigate the impact of loan supply conditions on euro area corporate investment and its financing structure. We identify shocks to overall demand and loan supply with sign and impact restrictions. Although tightened financial conditions...