Analysing administrative sales data in a quasi-experimental framework, we show that smoking bans did not impact the economic activity of bars and restaurants in Switzerland. However, we find some evidence of a negative impact on sales in discos.

Using unique data from an internet-based foreign-exchange trading platform, we show that the black market efficiently incorporated public information on the state of the Belarusian economy during the Balance of Payments crisis of 2011. Between May and October 2011, the government repeatedly...