By Kris Mitchener | Posted on 9 February 2023

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...


By Alex Michaelides | Posted on 25 January 2023

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...


By Alberto Manconi | Posted on 7 November 2022

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...


By Linxiang Ma | Posted on 3 October 2022

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,...


By Thomas Lambert | Posted on 5 September 2022

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...


By Stefan Lewellen | Posted on 25 August 2022

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...


By AJ Chen | Posted on 30 June 2022

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,...


By Ana Carolina Garriga | Posted on 30 April 2022

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...


By Logan Emery | Posted on 6 April 2022

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...


By Max Miller | Posted on 4 April 2022

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...