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Nepotism usually means hiring relatives, close friends, regardless of their merits and abilities. This would be a simple definition of nepotism, which as we all know, rapidity became the "criterion" and an issue favourable for employment leading people by family ties, while corruption is a...
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We use novel hand-collected data on political connections to find politically connected firms earn more positive (less negative) Cumulative Abnormal Returns (CARs) than those without political connections as a response to favorable (unfavorable) macroeconomic news. Using the...
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Contract enforcement does not only affect single transactions but the market as a whole. We compare alternative institutions that allocate enforcement rights to the different parties to a credit transaction: either lenders, borrowers, or judges. Despite all parties having incentives to enforce...
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We integrate theory and experimental evidence to study the emergence of different international monetary arrangements …
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