estimate the impact on firm performance from smart sanctions deployed by the U.S. and EU against Russia beginning in 2014. We …

to a 0.44 percent decline in stock prices. Second, results point to the “irrelevance” of debt in mediating the effect of … the role of debt for oil firms …

recent subprime mortgage crisis. Why did the financial markets fail to anticipate the recent debt crisis, despite the large … capital gain, the return on capital and the interest rate. An optimal debt ratio is derived where the drift is probabilistic …, does not depend upon the actual debt/net worth per se. Instead it increases in proportion to the difference between the …

I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by … revenue losses on inframarginal units of debt that reflect the price impact of these decisions. The model predicts an interior …

unexplored. We draw on both longitudinal and pseudo-panel data from Russia to explore how labor market hardships relate to …

period of coverage from 1950-2019 to 1950-2022, which includes two special periods – COVID-19 and the war between Russia and … trade. We also obtain estimates of the effects on trade of the 2014 sanctions on Russia …

panel difference-in-differences estimations and an event study design. Motivated by the claim that China and Russia … purposefully undermine US sanction efforts, we test whether target countries’ trade with China and Russia increases under US trade … sanctions. We find no evidence for systematic sanction busting. Russia does not change its trade patterns with sanctioned …