This paper provides novel evidence that similarity in employees' political attitudes plays a role in mergers and acquisitions. Using detailed data on individual campaign contributions to Democrats and Republicans, our estimates show that firms are considerably more likely to announce a merger,...

This paper develops a model of news discernment to explore the influence of elections on the formation of partisan-driven parallel information universes. Using survey data from news quizzes administered during and outside the 2020 U.S. presidential election, the model shows that partisan...

The FDA is responsible for the approval of new drugs, biological products and medical devices in the United States. As part of the approval process, the FDA relies on advisory committees, which provide independent advice from outside experts. We combine a structural approach with newly collected...

We estimate the causal effect of the electoral system on corruption by leveraging a specificity of the French electoral law where the electoral system for municipal councils depends on municipal population. Specifically, municipalities with fewer than 1,000 inhabitants use an individual majority...

Support for right-wing populist parties is characterised by considerable regional heterogeneity and especially concentrated in regions that have experienced economic decline. It remains unclear, however, whether the spatial externalities of local decline, including homelessness and crime, boost...

Political discourse has often stoked racial and ethnic divisions, raising the possibility that individuals' self-reported racial and ethnic identities may change in response to an increasingly hostile environment. We shed light on this question by measuring the impacts of local support for...

Promises are prevalent in many competitive environments, but promise keeping is often difficult to observe. Do promises still offer an opportunity to honor future obligations, if promise keeping is unobservable? Focusing on campaign promises, we study the value of transparency. We showhow...

Contrary to the famous saying, "In Brazil, even the past is uncertain", we can demonstrate that the future, at least in the short term, is quite predictable. This Discussion Paper presents the framework for agenda-setting anticipation through methodologies of actor mapping and agenda tracking,...

Contrary to the famous saying, "In Brazil, even the past is uncertain", we can demonstrate that the future, at least in the short term, is quite predictable. This Discussion Paper presents the framework for agenda-setting anticipation through methodologies of actor mapping and agenda tracking,...

Pressure groups may use bribes, violence, or a combination of both to bend politics to their will, and the choice between these methods of influence can vary depending on the type of institutional regime. We empirically investigate the dynamics of bribes and violence around elections in...