In the framework of the Paris Agreement implementation, financial transfers remain a major point of negotiation for addressing equity concerns raised by the ambitious climate objectives. In complement to the theoretical, experimental and numerical studies that have examined the role of transfers...

Talk about global democracy seems to be fixated on a Reform-Act model of democracy, with 'one person one vote for all affected by the decisions' as for example in a second popularly-apportioned chamber of UN. Politically, that seems wildly unrealistic. But remember that the Reform Acts came very...

We examine the fiscal footprint of macroprudential policy in euro area countries arising through the bond market channel (Reis, 2021). Using local projections, we estimate impulse responses of the fiscal balance to an unexpected tightening in macroprudential capital regulation. Our findings...

We present a simple model to illustrate how birthplace diversity may affect team performance. The model assumes that birthplace diversity increases the stock of available knowledge due to skill complementarities and decreases effciency due to communication barriers. The consequence of these two...