Papers & Opinions


Posted on 22 December 2023

This study explores whether firms adjust their liquidity in response to heightened uncertainty and expropriation risk associated with populism. Using an event study approach, we consistently find that firms reduce...


Posted on 25 May 2022

We investigate the link between ideology and the sentiments of parliamentarians when they speak to the central bank they hold accountable. To this end, we collect textual data on the...


Posted on 12 July 2021

Motivated by the recent rise of populism in western democracies, we develop a tractable equilibrium model in which a populist backlash emerges endogenously in a strong economy. In the model,...