Working Papers

Real Estate Investment Trusts (REITs) are considered “passive” investors and are exempt from corporate tax. But in reality, they play a very active role in reshaping whole industries, like healthcare.

Central banks can encourage climate-friendly investments by offering financial institutions favorable haircuts on green collateral

A persistent regime of low wages may determine very negative long-term consequences on the economy.

Pari passu clauses were deliberately crafted to gain an upper hand in sovereign bankruptcy disputes brought to the London stock exchange’s jurisdiction

Are there alternative, less socially costly, ways to bring inflation down?

Despite his opposition to South Africa’s apartheid, Hutt embraced notions of black inferiority

Contrary to the neoclassical loanable funds theory, historical bond yields show Keynes was right that “convictions” anchor long-term interest rates

Business firms are not alone in making investments in the productive capabilities required to generate innovative goods and services. Household units and government agencies also make investments in productive capabilities upon which business firms rely for their own investment activities.

The Consumer Welfare Standard of antitrust is outdated and defective

How could the new SDR allocation help developing countries?

Using aggregate campaign finance data as well as a Transformer based text embedding model we can predict roll call votes for legislation in the US Congress with more than 90% accuracy.

EEO-1 employment data document the vast over-representation of Asian Americans and vast under-representation of African Americans at tech companies in recent years. How did this happen?

US regulators can step in to ensure drug pricing both supports patient access and drug development

A formal argument that Kahneman and Tversky’s compelling empirical findings, and those of other behavioral economists, do not provide a basis for a general approach to specifying participants’ “predictable errors.”

In a society where asset ownership is incredibly unequal, social mobility become severely diminished