Papers & Opinions

Banking | Empirics | Special interest politics

The Politics of the Paycheck Protection Program

Paper

Posted on 8 December 2021

By Thomas Lambert

This paper examines the incidence of special interests in the allocation of loans through the Paycheck Protection Program (PPP). We find that lobbying at the firm and industry levels helps...
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Empirics | Financial markets

Partisan Return Gap

Paper

Posted on 19 July 2021

By Jinfei Sheng

We document sharp differences in stock price responses to COVID-19-related news between public firms headquartered in blue counties (dominated by Democratic voters) and those in red counties (dominated by Republican...
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