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Offshore jurisdictions (including Cyprus), corruption money laundering and Russian round-trip investment
Ledyaeva, Svetlana - 2013
In this paper we analyze the link between corruption money laundering and round-trip investment via offshore jurisdictions utilizing Russian firm-level data. In particular we empirically explore location strategies of round-trip investors (namely, from Cyprus and British Virgin Islands) across...
Persistent link: https://www.econbiz.de/10012459644
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The Puzzling Persistence of Financial Crises
Calomiris, Charles W.; Jaremski, Matthew S. - National Bureau of Economic Research - 2024
The high social costs of financial crises imply that economists, policymakers, businesses, and households have a tremendous incentive to understand, and try to prevent them. And yet, so far we have failed to learn how to avoid them. In this article, we take a novel approach to studying financial...
Persistent link: https://www.econbiz.de/10014512067
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Liquidity, Debt Denomination, and Currency Dominance
Coppola, Antonio; Krishnamurthy, Arvind; Xu, Chenzi - National Bureau of Economic Research - 2023
We provide a liquidity-based theory for the dominant use of the US dollar as the unit of denomination in global debt contracts. Firms need to trade their revenue streams for the assets required to extinguish their debt obligations. When asset markets are illiquid, as modeled via endogenous...
Persistent link: https://www.econbiz.de/10014226181
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Banking Crises in Historical Perspective
Frydman, Carola; Xu, Chenzi - National Bureau of Economic Research - 2023
This paper surveys the recent empirical literature on historical banking crises, defined as events taking place before 1980. Advances in data collection and identification have provided new insights into the causes and consequences of crises both immediately and over the long run. We highlight...
Persistent link: https://www.econbiz.de/10014248010
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Long-Run Trends in Long-Maturity Real Rates 1311-2021
Rogoff, Kenneth S.; Rossi, Barbara; Schmelzing, Paul - National Bureau of Economic Research - 2022
Taking advantage of key recent advances in long-run financial and economic data, this paper analyzes the statistical properties of global long-maturity real interest rates over the past seven centuries. In contrast to existing consensus, which has overwhelmingly concentrated on short samples for...
Persistent link: https://www.econbiz.de/10013388831
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Convergent Evolution Toward the Joint-Stock Company
Le Bris, David; Goetzmann, William N.; Pouget, Sébastien - National Bureau of Economic Research - 2023
The origin of the modern publicly-held joint-stock company is typically traced to large-scale maritime trading companies in England and the Netherlands in the early 17th century. Highlighting medieval cases in southern Europe, we claim that the joint-stock company likely emerged in several times...
Persistent link: https://www.econbiz.de/10014436952
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Failing Banks
Correia, Sergio; Luck, Stephan; Verner, Emil - National Bureau of Economic Research - 2024
deposit insurance, when depositor runs were common. Bank-level fundamentals also forecast aggregate waves of bank failures … during systemic banking crises. Altogether, our evidence suggests that the ultimate cause of bank failures and banking crises … is almost always and everywhere a deterioration of bank fundamentals. Bank runs can be rejected as a plausible cause of …
Persistent link: https://www.econbiz.de/10015072849
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Browsers Don't Lie? Gender Differences in the Effects of the Indian COVID-19 Lockdown on Digital Activity and Time Use
Miller, Amalia R.; Ramdas, Kamalini; Sungu, Alp - National Bureau of Economic Research - 2023
We measure the impact of the initial Indian national COVID-19 lockdown on digital activity using browser histories of 1,094 individuals, spanning over 31.5 million website visits on computers and mobile devices. Reflecting the predicted increase in the value of online activity, both men and...
Persistent link: https://www.econbiz.de/10014437050
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From Retributive to Restorative : An Alternative Approach to Justice
Adukia, Anjali; Feigenberg, Benjamin; Momeni, Fatemeh - National Bureau of Economic Research - 2023
School districts historically approached conflict-resolution from a zero-sum perspective: suspend students seen as disruptive and potentially harm them, or avoid suspensions and harm their classmates. Restorative practices (RP) -- focused on reparation and shared ownership of disciplinary...
Persistent link: https://www.econbiz.de/10014372432
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The Realities Of Disclosure Risks In The Age Of Dark Patterns And Big Data
Sarmiento, Ramon Abraham A. - National Bureau of Economic Research - 2024
This paper explores the realities of disclosure risks in the current big data landscape, examining implications for individuals, society, and the evolving ethical landscape. One these realities is pervasive use of dark patterns in data collection. Dark patterns are user interfaces crafted to...
Persistent link: https://www.econbiz.de/10015072868