Papers & Opinions

    Corporate finance | Empirics | Political institutions

    Finance and Ideology: The Firm-Level Channels

    Paper

    Posted on 22 June 2021

    By Haikun Zhu

    We investigate how politicians’ ideologies affect economic outcomes and financial development through firm-level channels. We explore a unique setting of ideological change in China from Mao’s ideology to Deng’s around...
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    Central banking | Political institutions | Theory

    The Euro as a Diverse Monetary Union

    Paper

    Posted on 21 May 2021

    By Oscar Soons

    We analyze the political economy causes and consequences of a monetary unification among countries with different institutional quality. Before a common currency countries with stronger institutions have more efficient public...
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    Banking | Electoral politics | Theory

    The Political Economy of Prudential Regulation

    Paper

    Posted on 21 May 2021

    By Magdalena Rola-Janicka

    This paper introduces a voting model into a setting with negative borrowing externalities to study voter preferences for prudential regulation. Voters internalize the general equilibrium impact of prudential policy on...
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