The New Economics of Industrial Policy
We discuss the considerable literature that has developed in recent years providing rigorous evidence on how industrial policies work.
Research
Adverse Selection and (un)Natural Monopoly in Insurance Markets
Adverse selection is a classic market failure known to limit or “unravel” trade in insurance markets and many other settings.
Investment versus Output Subsidies: Implications of Alternative Incentives for Wind Energy
This study examines the choice between subsidizing investment and subsidizing output to promote socially desirable production.
Behind schedule: The corporate effort to fulfill climate obligations
The 2015 Paris Agreement represented the first multilateral agreement to acknowledge and support efforts by so-called non-state actors, including corporations, to cut their greenhouse gas emissions.
Examining Business Reform Committees: Findings from a New Global Dataset
Reform committees (also known as reform councils) are institutional mechanisms or structures tasked with holding policy discussions pertaining to (and making specific recommendations on) regulatory is
Walking the Purpose-Talk Inside a Large Company: Sustainable Product Development as an Instance of Divergent Change
There is a growing interest in large companies pursuing a new purpose—changing their core reason for being from a singular focus on financial gain to a renewed responsibility to people and the planet
Debt Distress on China's Belt and Road
This paper shows that China's lending boom to developing country sovereigns has largely ended and that debt distress and defaults are increasingly common.
Localizing Environmental Regulation: The Case of Boutique Fuels
The Clean Air Act has authorized an array of fuel regulations to reduce the precursors to ambient ozone pollution, among other pollutants.
Show and Tell: An Analysis of Corporate Climate Messaging and its Financial Impacts
As climate-induced physical and transition risks to corporations are becoming more and more material, investors are increasingly scrutinizing a patchwork of voluntary climate-related communications–na
Exchange Rate Volatility and Monetary Policy
The global economy has witnessed great economic volatility in the first two decades of the 21st century.
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