Publications

The Centre has a regular discussion paper series dedicated to academic research, as well as a special paper series focused on policy analysis. In addition, affiliated researchers publish a variety of books, reports and opinion pieces.

Discussion Papers
Jun 2020
DP 100
We investigate the causal impact of financial risk on economic growth, using a panel spanning 150 years and 74 countries. Persistent low risk encourages risky investments that ultimately augment growth but at the cost of building up of...
Discussion Papers
Jun 2020
DP 99
Jeremy David Turiel, Delmiro Fernandez-Reyes and Tomaso Aste
During the unfolding of a crisis, it is crucial to determine its severity, yet access to reliable data is challenging. We investigate the relation between geolocated Tweet Intensity of initial COVID-19 related tweet at the beginning of the pandemic...
Discussion Papers
Jun 2020
DP 98
We assess the ability of an information aggregation mechanism that operates in the over-the-counter market for financial derivatives to reduce valuation uncertainty among market participants. The analysis is based on a unique dataset of price...
Discussion Papers
Jun 2020
DP 97
Cevat G. Aksoy, Barry Eichengreen and Orkun Saka
What will be the political legacy of the Coronavirus pandemic? We find that epidemic exposure in an individual’s “impressionable years” (ages 18 to 25) has a persistent negative effect on confidence in political institutions and leaders. We find...
Discussion Papers
May 2020
DP 96
Cevat G. Aksoy, Barry Eichengreen and Orkun Saka
An effect of the COVID-19 pandemic, it is sometimes suggested, will be to reverse the secular trend toward questioning the value of scientific research and expertise. We analyze this hypothesis by examining how exposure to previous epidemics...
Discussion Papers
Apr 2020
DP 95
Gbenga Ibikunle and Khaladdin Rzayev
We exploit the exogenous shock of the COVID-19 pandemic on financial markets and regulatory restrictions on dark trading to investigate how volatility drives dark market share and trader venue selection. We find that, consistent with theory,...
Discussion Papers
Mar 2020
DP 94
Toni Ahnert and Martin Kuncl
We examine loan insurance when lenders can screen at origination, learn loan quality over time, and can sell loans in secondary markets. Loan insurance reduces lending standards but improves market liquidity. Lenders with worse screening ability...
Discussion Papers
Jan 2020
DP 93
We propose a novel, and simple, Bayesian estimation and model selection procedure for crosssectional asset pricing. Our approach, that allows for both tradable and non-tradable factors, and is applicable to high dimensional cases, has several...
Discussion Papers
Jan 2020
DP 92
Consumption dynamics are hard to measure accurately in the data, yet they are the crucial ingredient of macro-finance asset pricing models. The central insight of these models is that, in equilibrium, both consumption and returns are largely driven...
Discussion Papers
Nov 2019
DP 91
Carmen Camacho and Yu Sun
Under the threat of earthquakes, long-term policy makers need tools to optimally decide on the economic trajectories that will maximize the society welfare. Tools should be flexible and account for the consequences of earthquakes, incorporating the...

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