The objective of the current work is to estimate to what extent support measures of the Bank of Russia and the Government of the Russian Federation promoted financial stability of banks and the financial market overall so to sustain lending economy-wide during the crisis periods of 2014, 2020,...

This paper examines the properties of instrumental variables (IV) applied to models with essential heterogeneity, that is, models where responses to interventions are heterogeneous and agents adopt treatments (participate in programs) with at least partial knowledge of their idiosyncratic...

This paper studies the welfare effects of Ramp;D subsidies. We develop a model of continuous optimal treatment with outcome heterogeneity where the treatment outcome depends on applicant investment. The model takes into account heterogeneous application costs and identifies the treatment effect...

Empirical literature amp;#64257;ndings do not provide a clear-cut interpretation of the effects of public aid on amp;#64257;rms performances. We contribute to this literature analysing the eamp;#64256;ects of public regional subsidies on investment using a new dataset covering all the amp;#64257;rms in the Italian...

The paper will attempt to estimate factors which determine the variability of case fatality rates of COVID-19 (Coronavirus) across OECD countries in the recent time. The objective of the paper is to estimate the impact of government health policies on fatality rates (Case fatality rates) of...

This study investigates the short-term mortality effects of two age-based restrictions on legal access to alcohol in Germany. We exploit sharp differences in legal access to alcohol at 16 and 18 years by implementing a regression discontinuity design. We find discontinuous increases in deaths at...

We estimate international spillover effects of the United States (US)' Quantitative Easing (QE) on emerging market economies (EMEs). Using a Bayesian VAR on monthly US macroeconomic and financial data, we first identify the US QE shock. The identified US QE shock is then used in a monthly...

The treatment of owner-occupied housing (OOH) is probably the most important unresolved issue in inflation measurement. The European Union has been grappling with this problem for over a decade. We argue for measuring OOH costs using a particular version of the user cost method. We then compare...

A Bayesian Spatial-Propensity Score Matching estimator is proposed to measure the regional impact of micro finance on poverty reduction and women's empowerment. The impact of micro finance in Bolivia was tested with this estimator, using census and household survey data. The results suggest that...

This paper analyzes the effectiveness of hiring credits. Using comprehensive administrative data, we show that the French hiring credit, implemented during the Great Recession, had significant positive employment effects and no effects on wages. Relying on the quasi-experimental variation in...