Fiscal consequences of Central Bank losses by Stephen G. Cecchetti, Jens Hilscher published by NBER (5/2024). In response to the Global Financial Crisis, central banks engaged in large-scale asset purchases funded by the issuance of reserves. These “unconventional” policies…
The Economics of Information in a World of Disinformation: A Survey Part 1: Indirect Communication by Joseph E. Stiglitz and Andrew Kosenko published by NBER (1/2024). We survey aspects of the intellectual development of the economics of information from…
The Fiscal Consequences of Missing an Inflation Target by Michele Andreolli and Hélène Rey published by NBER (1/2023) The European Central Bank is unique in setting monetary policy for several sovereign states with heterogeneous debt levels and different maturity…
Shrinking the Tax Gap: Approaches and Revenue Potential by Natasha Sarin and Lawrence H. Summers published by NBER (11/2019). “The IRS recently released its most recent estimates on the tax gap—the difference between what was due to the…
NBER published Working Papers released in the past, by week. “Aggregate and Firm-Level Stock Returns During Pandemics, in Real Time by Laura Alfaro, Anusha Chari, Andrew N. Greenland, and Peter K. Schott How Does Household Spending Respond to an…
When and how to use public-private partnerships in infrastructure: lessons from the international experience by Eduardo Engel, Ronald D. Fischer, and Alexander Galetovic published by NBER (2/2020). “Public-private partnerships (PPPs) have emerged as a new organizational form to provide…
The olympic effect by Andrew K. Rose and Mark M. Spiegel published by NBER (4/2009). “Economists are skeptical about the economic benefits of hosting ‘mega-events’ such as the Olympic Games or the World Cup, since such activities have considerable…
Federal transfer multipliers. Quasi-experimental evidence from Brazil by Raphael Corbi, Elias Papaioannou and Paolo Surico published by NBER (12/2014). “According to Brazilian law, federal transfers to municipal governments change discontinuously at numerous predetermined population thresholds. We employ a ‘fuzzy’…
