This paper evaluates the efficiency of the twenty-one largest Syndicates of Lloyd's of London. Members of Lloyd's of London are grouped into Syndicates in order to undertake insurance liabilities. In this study, the Syndicate is regarded as the counterpart of an insurance company in a regular...

This paper documents that resource reallocation across firms is an important mechanism through which creditor rights affect real outcomes. I exploit the staggered adoption of an international convention that provides globally consistent strong creditor protection for aircraft finance. After this...

To address security concerns, governments often implement trade barriers and restrictions on the movement of goods and people. These restrictions have negative economic consequences, possibly increasing the supply of political violence. To test this hypothesis, we exploit the restrictions...

This paper investigates the impact of agricultural trade liberalization on economic activity and political violence in emerging countries. We use data on all Preferential Trade Agreements (PTAs) signed between 25 low- and middle-income countries and their high-income trade partners between 1995...

The increase in institutional ownership, the shift towards passive portfolio management and the rise of common ownership have transformed OECD countries financial markets in the last decades. The paper investigates the potential consequences of these transformations on firm's productivity, using...

Levels of CO2 emissions from electricity generation in the U.S. have changed considerably in the last decade. This development can be attributed to two factors. First, the shale gas revolution has reduced gas prices significantly, leading to a crowding out of the more CO2-intensive coal for...

Levels of CO2 emissions from electricity generation in the U.S. have changed considerably in the last decade. This development can be attributed to two factors. First, the shale gas revolution has reduced gas prices significantly, leading to a crowding out of the more CO2-intensive coal for...

We study the United Nations Organization's Kyoto Protocol nations to address two questions. First of all, what are the environmental production efficiency rankings of these nations? Secondly, is there a relationship between a nation's ratification status and its environmental production...

This paper measures environmental efficiency (EE) and environmental productivity (EP) and analyzes differences in these across countries. It explores the macro-economic factors that could explain these differences and whether these differences can be explained by income levels and by the degree...

In the past three decades, the seed sector has experienced, and is now again experiencing, corporate concentration trends. The fallout of this consolidation is the subject of numerous concerns. However, the seed sector is rather poorly understood. Thus, it is useful to understand it better and...