This study assesses hiring discrimination based on disclosed depression. We send out pairs of job applications from fictitious unemployed candidates to real vacancies in Belgium. Within each pair, one candidate cites depression as the reason for her/his unemployment, whereas the other candidate...

This study analyzes the dynamic effect of FDI on local firms' productivity by relaxing the standard implicit assumption that technological spillovers are immediate and pfirmanent. We find that the entry of majority foreign owned firms has a short run negative effect on the productivity of local...

Supervisors sometimes have to manage both the micro- and macro- prudential dimensions of bank stability. These may either conflict or complement each other. We analyze prudential supervision by the Central Bank of Russia (CBR). We find evidence of micro-prudential concerns, measured as the...

We focus on the con.ict between two central bank objectives individual bank stability and systemic stability.We study the licensing policy of the Central Bank of Russia (CBR) during 1999.2002.Banks in poorly banked regions, banks that are too big to be disciplined adequately, and banks that are...

We analyse how the choice of reform speed and economic growth affect one another.We estimate a system of three equations where economic growth, economic reform and FDI are jointly determined. New reforms affect economic growth negatively, whereas the level of past reform leads to higher growth...

Using a database from post-communist, pre-deposit-insurance Russia, we demonstrate the presence of quantity-based sanctioning of weaker banks by both firms and households, particularly after the financial crisis of 1998.Evidence for the standard form of price discipline, however, is notably...

We study whether bank efficiency is related to bank ownership in Russia. We find that foreign banks are more efficient than domestic private banks and - surprisingly - that domes-tic private banks are not more efficient than domestic public banks. These results are not driven by the choice of...

We suggest an additional transmission channel of contagion on the interbank market - the liquidity channel. Examining the Russian banking sector, we and that the liquidity channel contributes significantly to understanding and predicting interbank market crises. Interbank market stability...

We explore how the introduction of explicit deposit insurance affects deposit flows into and out of banks of varying risk levels. Using evidence from a natural experiment in Russia, we employ a difference-in-difference estimator to isolate the change in the deposit flows of a newly insured group...

Russia's tremendous inter-regional variation in the pace of industrial land rights reform has meant that geography has helped determine the current tenure status of firms' production plots as much as any individual firm characteristics. By exploiting both this difference in the pace with which...