Because of secrecy, little is known about the political economy of central bank lending. Utilizing a novel, hand-collected historical daily dataset on loans to commercial banks, we analyze how personal...
Since the 1980s many countries have reformed the institutional framework governing their central banks to increase operational independence. Collecting systematic biographical information, international press coverage, and independent expert opinions, we...
We use the acquisition of Dow Jones & Co. by News Corporation in 2007 to study whether investors respond to a news source’s political affiliation. Following the acquisition, the price...
Ideology, the belief system about "how the society should be governed" that some group of people collectively sustains, is a critical factor that motivates economic decisions in democratic countries. However,...
Does democracy shape international merger activity? If so, how? The short answer is yes because democratic institutions are conducive to higher-quality corporate governance. In a new paper, we examine 104,425...
We examine the causal effect of politicians' partisan ideologies on firms' industrial pollution decisions. Using a regression discontinuity design involving close U.S. congressional elections, we show that plants increase pollution...
We investigate determinants that encourage companies to speak out via twitter or their websites in support of Black Lives Matter (BLM) after the death of George Floyd on May 25,...
The ability to finance conflict likely affects the odds of sustaining a war and succeeding in it. Recent literature explores rebel group funding, but far less is known about how...
We develop the first comprehensive mapping of the revolving door phenomenon in the U.S. by examining the work experience in executive branch agencies of 1,910,150 individuals covering top corporate positions...
We provide the first large-sample evidence of foreign influence in US politics, showing that meetings between foreign countries and legislators affect government resource allocation directly for countries and indirectly for...
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