that can justify macroprudential regulation. It explains how externalities associated with the activity of financial … externalities that can lead to systemic risk as: 1. Externalities related to strategic complementarities, that arise from the … expansionary phase of a financial cycle; 2. Externalities related to fire sales, that arise from a generalized sell-off of …

incorporates consumption, leisure, mortality and in equality, and we extend the methodology to include environmental externalities …

decisions and consumer welfare depends on the relative size of search externalities in domestic and international markets. These … externalities can be positive if firms share information about potential matches, or negative if the market is congested. Using … unique firm-to-firm transaction-level data from Uganda, I document empirical evidence consistent with positive externalities …

that incentives to retire early are strong for men, especially low-wage earners. The marginal effective tax rates also make … reform measures to enhance work incentives and labor participation, which will be crucial for dealing with population aging …