In applied econometric literature, the causal inferences are often made based on temporally aggregated or systematically sampled data. A number of theoretical studies have pointed out that temporal aggregation has distorting effects on causal inference and systematic sampling of stationary...

We study the efficiency of dealers' liquidity provision and the desirability of policy intervention in over-the-counter (OTC) markets during crises. Our theory emphasizes two key frictions in OTC markets: finding counterparties takes time, and trade is bilateral, with quantities and prices...

Foreign direct investment (FDI) has grown far more rapidly than trade during the last two decades. As with the other prominent features of globalisation, FDI is controversial. The impact of FDI on labour markets has been of growing concern, particularly, for source countries. The deterioration...