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
Aug 2020
DP 102
We study the transmission of liquidity shocks from one sector of the economy to other sectors in a general equilibrium model with multiple trading venues connected by profit-seeking arbitrageurs. Arbitrageurs effectively provide liquidity to...
Discussion Papers
Jul 2020
DP 101
This paper analyses of how risk is allocated in China’s markets for debt issued by non-financial enterprises. Compared to other major corporate bond markets China’s is unusual in that unlisted, state-owned enterprises account for a large fraction of...
Opinion Pieces
Jul 2020
Thorsten Beck, Orkun Saka and Paolo Volpin
A rapidly expanding literature has shown the importance of political economy factors for legislative and regulatory actions in the financial sector and ultimately financial sector stability and efficiency. This column reports on recent research in...
Discussion Papers
Jun 2020
DP 100
We investigate the causal impact of financial risk on economic growth, using a panel spanning 150 years and 74 countries. Persistent low risk encourages risky investments that ultimately augment growth but at the cost of building up of...
Discussion Papers
Jun 2020
DP 99
Jeremy David Turiel, Delmiro Fernandez-Reyes and Tomaso Aste
During the unfolding of a crisis, it is crucial to determine its severity, yet access to reliable data is challenging. We investigate the relation between geolocated Tweet Intensity of initial COVID-19 related tweet at the beginning of the pandemic...
Discussion Papers
Jun 2020
DP 98
We assess the ability of an information aggregation mechanism that operates in the over-the-counter market for financial derivatives to reduce valuation uncertainty among market participants. The analysis is based on a unique dataset of price...
Opinion Pieces
Jun 2020
Cevat G. Aksoy, Barry Eichengreen and Orkun Saka
What will be the political legacy of the COVID-19 pandemic? This column uses data from the 2006-2018 Gallup World Polls to show that epidemic exposure during an individual’s ‘impressionable years’ of 18 to 25 has a persistent negative effect on...
Discussion Papers
Jun 2020
DP 97
Cevat G. Aksoy, Barry Eichengreen and Orkun Saka
What will be the political legacy of the Coronavirus pandemic? We find that epidemic exposure in an individual’s “impressionable years” (ages 18 to 25) has a persistent negative effect on confidence in political institutions and leaders. We find...
Opinion Pieces
May 2020
Cevat G. Aksoy, Barry Eichengreen and Orkun Saka
It is argued that COVID-19 will reverse the ongoing trend of challenging the value of science and the integrity of scientists. This column shows that exposure to epidemics in one’s country of residence during the ‘impressionable years’ of ages 18 to...
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...

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