By Nataliya Gerasimova | Posted on 18 October 2021

This paper provides novel evidence that female politicians increase the proportion of US government procurement contracts allocated to women-owned firms. The identification strategy uses close elections for the US House...


By Nicolo Fraccaroli | Posted on 10 October 2021

This paper investigates whether parliamentary hearings are effective in holding central banks accountable against their mandates. To this end, it applies text analysis on the hearings of the Bank of...


By Davide Romelli | Posted on 25 September 2021

What explains the worldwide changes in central bank design over the past five decades? Using a new dataset on central bank institutional design, this paper investigates the timing, pace and...


By Max Miller | Posted on 21 September 2021

Risk premia are significantly elevated during periods of democratization in a cross-country panel of equity data covering 85 countries over 200 years, despite little evidence of a negative effect on...


By Laurent Bouton | Posted on 20 September 2021

This paper studies voting in shareholders meetings. We focus on the informational efficiency of different voting mechanisms, taking into account that they affect both management's incentives before the meeting and...


By Orkun Saka | Posted on 16 September 2021

Recent wildfires in Turkey have not only destroyed more than 95,000 hectares of its coastal forestland but also divided the country further into its political colors. This piece discusses the...


By Davide Romelli | Posted on 30 August 2021

Previous scholarship on central bank accountability has generally focused on monetary authorities' deeds and words while largely ignoring the other side of the accountability relationship, namely politicians' voice on monetary...


By Orkun Saka | Posted on 17 August 2021

Despite the commonly held views of economists on regulatory capture, our profession has been much more hesitant in recognising similar conflicts of interests that may exist in economics research. This...


By Jörg Stahl | Posted on 2 August 2021

This paper analyzes the effect of the composition of the electorate on corporate prospects. Electorates constantly change, and support-maximizing policymakers adjust their legislative behavior to accommodate shifts in voter preferences....


By Orkun Saka | Posted on 15 July 2021

What political legacy is bequeathed by national health crises such as epidemics? We show that epidemic exposure in an individual’s “impressionable years” (ages 18 to 25) has a persistent negative...