Publications

The Centre has a regular discussion paper series dedicated to academic research, as well as a special paper series focused on policy analysis. In addition, affiliated researchers publish a variety of books, reports and opinion pieces.

Discussion Papers
May 2020
DP 96
Cevat G. Aksoy, Barry Eichengreen and Orkun Saka
An effect of the COVID-19 pandemic, it is sometimes suggested, will be to reverse the secular trend toward questioning the value of scientific research and expertise. We analyze this hypothesis by examining how exposure to previous epidemics...
Discussion Papers
Apr 2020
DP 95
Gbenga Ibikunle and Khaladdin Rzayev
We exploit the exogenous shock of the COVID-19 pandemic on financial markets and regulatory restrictions on dark trading to investigate how volatility drives dark market share and trader venue selection. We find that, consistent with theory,...
Special Papers
Apr 2020
SP 19
Synthetic control method (SCM) is generally used for producing counterfactual scenarios in policy evaluations. In the light and urgency of the recent developments regarding the COVID-19 virus and the related human and economic losses, I propose a...
Special Papers
Apr 2020
SP 18
We carry out some analysis of the daily data on the number of new cases and number of new deaths by (191) countries as reported to the European CDC. We work with a quadratic time trend model applied to the log of new cases for each country. This...
Opinion Pieces
Mar 2020
Many comparisons have been made between the coronavirus crisis and the global systemic crisis in 2008. This column argues that seen through the lens of exogenous and endogenous risk, these two crises are quite different. Coronavirus is unlikely to...
Opinion Pieces
Mar 2020
Artificial intelligence, such as the Bank of England Bot, is set to take over an increasing number of central bank functions. This column argues that the increased use of AI in central banking will bring significant cost and efficiency benefits, but...
Discussion Papers
Mar 2020
DP 94
Toni Ahnert and Martin Kuncl
We examine loan insurance when lenders can screen at origination, learn loan quality over time, and can sell loans in secondary markets. Loan insurance reduces lending standards but improves market liquidity. Lenders with worse screening ability...
Special Papers
Jan 2020
SP 17
Constantine Dzhabarov and Bill Ziemba
The period May 1 to the turn of the month of November (-6 trading day of October) has historically produced negligible returns. The rest of the year (late October to the end of April) has essentially all the year's gains. We show that there is a...
Discussion Papers
Jan 2020
DP 93
We propose a novel, and simple, Bayesian estimation and model selection procedure for crosssectional asset pricing. Our approach, that allows for both tradable and non-tradable factors, and is applicable to high dimensional cases, has several...
Discussion Papers
Jan 2020
DP 92
Consumption dynamics are hard to measure accurately in the data, yet they are the crucial ingredient of macro-finance asset pricing models. The central insight of these models is that, in equilibrium, both consumption and returns are largely driven...

Pages