We propose a simple explanation for the long-run decline in the startup rate. It was caused by a slowdown in labor supply growth since the late 1970s, largely pre-determined by demographics. This channel explains roughly two-thirds of the decline and why incumbent firm survival and average...

China has established its role as a major world lender, and policy changes affecting its external position would therefore have pronounced effects over a range of countries and on the global financial landscape in general. In this paper, I characterize China’s external asset holdings and macro...

Thematic Workshops: Workshop 1 – Areas of concern and proposals for less unequal worlds Workshop 2 – Unequal access to “invisible or online” education for those who already suffered from unequal access to “visible or in-person” education Workshop 3 – The Pandemic and the growing...

Do sanctions strengthen the targeted regime? I analyze the 2014 imposition of Western sanctions on Russia and its impact on voting. The United States and the European Union introduced targeted measures against Russian entities and individuals related to President Putin’s regime. Using polling...

Having barely recovered from the successive waves of the Covid-19 pandemic, European economies are now facing another serious shock. The Russian invasion of Ukraine and the sanctions that have followed have given rise to inflation rates unseen for several decades, driven primarily by higher...

The programme in Healthcare Innovation and Management will include seminars on: - Key Theories, Concepts and Frameworks in Healthcare Innovation and Management. - Management research in healthcare: the industry perspective. - Ideas for future research and new research questions in value-based...

Decades of investment decisions by central planners left communist societies with structures of production ill-prepared for competitive markets. Their vulnerability to liberalization, however, varied across space. Similar to the effects identified in the "China shock'' literature, we hypothesize...

Seit einem Jahr beherrscht die Inflation wieder die Schlagzeilen, und das nicht nur in Deutschland. Mit dem Krieg in der Ukraine erreichen die Inflationsraten neue Rekordhöhen. Die Antworten auf die Fragen: „Wie lässt sich die hohe Inflationsrate erklären? Inwieweit ist die...

The COVID-19 outbreak has cut China's supply of and raised the world's demand for face masks, disinfectants, ventilators, and other critical medical goods. This article studies the economic and political factors that are associated with China's exports of medical equipment during the first two...

This paper investigates how the rules that corporations wrote for themselves related to their financing and performance in an environment characterized by poor investor protections, Imperial Russia. We present new data on detailed governance provisions from Imperial Russian corporate charters,...