We estimate an investors' demand model for hedge funds to analyze the potential impact of leverage limits in the industry. Our estimation results highlight the importance of heterogeneous investor preference for the use of leverage, i.e., 20% of investors prefer leverage usage while others do...

Global financial crisis has brought challenges and opportunities to China's cultural industries. What are the roles of cultural industries in terms of meeting the challenges of structural adjustment? What are the general and specific impacts on China's cultural industries as a result of global...

Following the financial crisis of 2008, the UK government has set out new economic priorities which include jobs and returns from investment in science and technology-based activity. In this paper we show that the Cambridge area already provides a microcosm for such a future economy, one that it...

Aggregate shocks in demand such as the burst of the 2001 dot-com bubble affect firms' behavior and, therefore, the market structure. This paper proposes a fully dynamic oligopoly model to evaluate the impact of aggregate demand shocks on entry and exit costs as well as on investment and labor...

We study the effects of the car scrapping subsidies in Europe during the financial crisis. We make use of a rich data set of all car models sold in nine European countries, observed at a monthly level during 2005-2011.We employ a difference-in-differences approach, exploiting the fact that...

As the COVID-19 crisis intensified, policymakers at the federal, state, and local levels started suspending or rescinding laws and regulations that hindered sensible, speedy responses to the pandemic. These “rule departures” raised many questions. Were the paused rules undermining public...

In Q3 2021, the Russian industry demonstrated a high level of adaptation to thecurrent economic environment. High estimates of demand by industrial enterpriseslargely contributed to the growth of Adaptation Index, as well as the availability ofstocks of finished products and production capacity....

This paper uses a new field survey of low-wage areas of urban India to show that employment and earnings were decimated by the lockdown resulting from the Covid-19 crisis. It examines workers' desire for a job guarantee in this setting. Workers who had a job guarantee before the crisis were...

With over a dozen bills pending in both the U.S. and E.U. to "solve" the privacy crisis, perhaps it's time to take a step back and ask some fundamental questions about information management in the age of big data. Why does "private" information evoke visceral policy responses? Is there a...