What do we talk about when we talk about ethical diversity as a challenge to the normative justifiability of liberal democracy? Many theorists claim that liberal democracy ought to be reformed or rejected for not being sufficiently 'inclusive' towards diversity; others argue that, on the...

Does communication influence trust in the central bank? We examine this question using survey data covering 488,000 Eurozone citizens from 1999 to 2019. We find compelling evidence that more communication, as measured by the number of speeches made by representatives of the Eurosystem,...

Public debt managers auction bonds to primary dealers (PDs) who may sell them to traders in the secondary market. PDs may have an information advantage about the bond’s value. When the resulting adverse selection problem is severe, the result is a separating equilibrium in which the secondary...

Does communication influence trust in the central bank? We examine this question using survey data covering 488,000 Eurozone citizens from 1999 to 2019. We find compelling evidence that more communication, as measured by the number of speeches made by representatives of the Eurosystem,...

Motivated by the search for instruments to contain future housing bubbles, we examine the impact of transaction taxes and capital gains taxes on residential house price growth. We exploit the variation in taxation across Swiss cantons, as well as within-canton changes in taxation over time. We...