Are Bigger Banks Better? Firm-Level Evidence from Germany
The effects of large banks on the real economy are theoretically ambiguous and politically controversial. I identify quasi-exogenous increases in bank...
Vaccine challenges
Last week brought welcome news about the apparent effectiveness of a potential Covid-19 vaccine. While the challenges of manufacturing and...
Financial policymaking after crises: Public versus private interest
Financial crises invariably lead governments to intervene in one way or another, whether to ease the damage to middle-class voters, to respond to the...
Revenge of the Experts: Will COVID-19 Renew or Diminish Public Trust in Science?
It is sometimes said that an effect of the COVID-19 pandemic will be heightened appreciation of the importance of scientific research and expertise...
Domestic Banks As Lightning Rods? Home Bias and Information during the Eurozone Crisis
Journal of Money, Credit and Banking, Volume 52, 2020,12744.
How we learned to stop counting cases and worry about network effects instead
The commuter hub was key to the spread of COVID-19 in London. The authors of the article estimate it contributed to over 42% of all London cases. When...
Financial Policymaking after Crises: Public vs. Private Interests
What drives actual government policies after financial crises? In this paper, we first present a simple model of post-crisis policymaking driven by...
The Spread of COVID-19 in London: Network Effects and Optimal Lockdowns
We generalise a stochastic version of the workhorse SIR (Susceptible-Infectious- Removed) epidemiological model to account for spatial dynamics...
The great demographic reversal and what it means for the economy
The ageing of the population has implications for inequality, productivity and monetary and fiscal policy, write Charles Goodhart and Manoj Pradhan
Exploited by Complexity
Due to their complex features, structured financial products can hurt the average investor. Are certain investors particularly vulnerable? Using...
Digital Currency and Economic Crises: Helping States Respond
The current crisis, at the time of writing, has had a profound impact on the financial world, introducing the need for creative approaches to...
Parimutuel betting markets: racetracks and lotteries revisited
This paper surveys the state of the art in research in racetrack and lottery markets. Market efficiency and the pricing of various wagers is studied...
Firms in emerging markets fall to COVID-19
Young, small, and domestic market-oriented firms are more likely to fall into financial distress.
Which programming language is best for economic research: Julia, Matlab, Python or R?
The most widely used programming languages for economic research are Julia, Matlab, Python and R. This column uses three criteria to compare the...
Market Fragmentation and Contagion
We study the transmission of liquidity shocks from one sector of the economy to other sectors in a general equilibrium model with multiple trading...
Support for small businesses amid COVID-19
A sizeable proportion of enterprises, especially SMEs, in receipt of financial assistance from the government will fail to repay. This column asks...
