Recent literature finds that exporters are particularly vulnerable to financial market frictions.As a consequence, exports may be lower than their efficient levels. For this reason,many countries support exporters by underwriting export credit guarantees. The empiricalevidence on the effects of...

We investigate the impact of a large scale debt waiver program for small agricultural borrowers in India on the short term and long term consumption levels of the beneficiaries. We obtain consumption data from three national level surveys conducted before and after the waiver by a federal...

Using a unique representative panel survey of Vietnamese enterprises in 2020, we find that the pandemic and associated government support package had a heterogenous impact across firms. The government support package, particularly tax cuts and deferrals, helped alleviate short term stress, but...

Derivatives are financial instruments used to manage risk. They consist of contractual agreements that establish transactions to be executed at a future date. The value of such transactions derive from the price of underlying assets, such as bonds, stocks, commodities, or currencies, explaining...

This paper examines wealth inequality during the COVID crisis. Measuring inequality by comparing growth of billionaires' wealth with that of equity markets, I find that the COVID crisis causes inequality to grow more rapidly by 23.6 ppt and even more in low-income countries where heir...