Annual Conference

|

Real Estate and Urban Economics

|

May 2019

We study how capital flows affects German cities’ GDP growth depending on the state of their real estate markets. Identification exploits a policy framework assigning refugees to cities on a quasi-random basis and variation in nondevelopable area for the construction of an exposure measure to real...
Keywords: Cross-border flows, capital flows, Collateral, City Business Cycles, Credit, Germany, GIPS Spread, Real estate, tangible assets
  • View
  • Download
  • Bookmark
  •    |   
  •  

Annual Conference

|

Economic Transformation of Asia

|

May 2015

This study evaluates the impact of a randomized control trial (RCT) in China that introduced externally funded village credit funds in poor, rural villages. In contrast to recent RCT-based studies that have failed to find evidence of significant increases in income from microfinance interventions, w...
Keywords: Microfinance, program evaluations, randomized control trial
  • View
  • Download
  • Bookmark
  •    |   
  •  

Annual Conference

|

Accounting

|

May 2015

I develop the notion of “thin political markets.” These are esoteric areas of market rule-making where corporate managers possess the technical expertise necessary for informed regulation, enjoy strong economic interests in the outcome, and face little political opposition. The motivating phenom...
Keywords: Political standards, Political economy, M&A, auditing, accounting
  • View
  • Download
  • Bookmark
  •    |   
  •  

Annual Conference

|

International Macroeconomics, Money & Banking

|

May 2015

We show that a model of an advanced small open economy with exports in commodities and search and matching frictions in the labour market can match the impulse responses from a panel vector autoregression to an identified commodity price shock. Using a minimum distance strategy, we find that interna...
Keywords: Commodity prices, Search and matching unemployment
  • View
  • Download
  • Bookmark
  •    |   
  •  

Annual Conference

|

International Macroeconomics, Money & Banking

|

May 2015

Despite a formal 'no-bailout clause', we estimate significant net present value transfers from the European Union to Cyprus, Greece, Ireland, Portugal and Spain, ranging from roughly 0.5% (Ireland) to 43% (Greece) of 2011 output during the recent Eurozone crisis. We propose a model to analyze and un...
Keywords: sovereign debt, Bailouts, Eurozone Crisis
  • View
  • Download
  • Bookmark
  •    |   
  •