We study whether national leaders' foreign education influences their foreign policy, measured by voting behavior at the United Nations General Assembly (UNGA). We hypothesize that “affinity” - pre-existing or developed while studying abroad - makes leaders with foreign education more likely...

We study whether national leaders' foreign education influences their foreign policy, measured by voting behavior at the United Nations General Assembly (UNGA). We hypothesize that "affinity" - pre-existing or developed while studying abroad - makes leaders with foreign education more likely to...

The efficiency effects of carbon pricing depend on how it impacts distortions in fossil fuel markets, most notably from local air pollution externalities. By offsetting these distortions, carbon pricing may generate significant net economic benefits, so it is in countries own interests to...

This lecture addresses three related aspects of monetary and fiscal management in Europe and elsewhere. First, I discuss the implications of economic integration for monetary and fiscal policy, especially the narrow focus on low inflation as the main objective of monetary policy. I argue that...

The high-frequency analysis of foreign exchange dynamics is helpful in order to better identify the impact of central bank interventions. Evidence robustly shows that interventions do indeed move the exchange rate level in the desired direction. Interventions increase volatility in the short run...

Itaya et al. (2014) study the conditions for sustainability and stability of capital tax coordination in a repeated game model with tax-revenue maximizing governments. One of their major results is that the grand tax coalition is never stable and sustainable. The purpose of this note is to prove...

This paper empirically analyses the motives underlying progress in implementing multilateral tax transparency standards. The results point to the protection of domestic special interests as a potential motive behind slower and less rigorous implementation. In particular, jurisdictions with a...

The paper empirically examines the implementation record of international financial regulation of the banking sector. The study finds that the size of the banking sector and the presence of global systemically important banks (G-SIBs) are positively associated with a stronger implementation...