We examine how within-group inequality, by influencing the group bias of state institutions, affects the cost-benefit calculus of individuals engaging in identity-assertive behaviour, that results in police complaints regarding hate crimes. We develop a two-stage contest model of between-group...

Financial inclusion is a key policy objective that central banks, especially those in emerging and low-income countries, are considering for retail central bank digital currency (CBDC). If properly designed to address the barriers to financial inclusion, CBDCs have the opportunity to gain...

The Covid-19 pandemic is expected to result in large and persistent losses in economic output, known as scarring. These losses were expected to be more severe in Emerging Markets than in Advanced Economies. This paper examines the impact of Covid on output in Emerging Markets so far and its...