On Jan 7, 2025, a technical error cut Argentina’s EMBI spread by 114 bps, creating a rare natural experiment. Using DiD, IV & intraday data, we show Argentine stocks jumped as investors updated beliefs based on a mispriced signal.

Endogenous borrowing constraints create a prudential motive for fiscal policy. Under the Ramsey-optimal plan, the government limits fiscal easing during crises, curbing overborrowing ex-ante and enhancing financial stability.

Authors investigate how credit availability affects the organization of firms’ labor. They construct an instrument for firm’s credit supply based on firm-bank credit linkages and conduct an event study on the decision to reorganize the labor force using Portugal data.

"This paper analyzes the effect of resolving trade policy uncertainty on innovation
in China from 1990 to 2007. Reducing tariff uncertainty is show to have generated economically and statistically significant increases in innovation.

Authors show that short-term liquidity is a source of competitive advantage, enabling investment in intangibles. Exploiting a French reform capping payment delays, they find that higher liquidity boosted intangibles, raising markups and market shares.

Authors estimate international spillovers from both conventional and unconventional US monetary policy, using exogenous variation in conventional policy, forward guidance and large-scale asset purchases, based on high-frequency asset price surprises around Fed communications

Authors argue that trade policy or new trade agreements can lead firms to adopt more technology, spent higher amount on research, invest in more high-cognitive non-production related tasks and this can lead to hiring of more white-collared female skilled workers.

Authors examine pricing effects of ECB bond purchases in the 2015–2021 period on an international panel of bond safety premia from four highly rated countries: Denmark, Germany, Sweden, and Switzerland and find statistically significant negative effects for all four countries.

After the Paris Agreement, firms that benefit from regulation receive more credit only if located in more stringent regulatory environments. Conversely, firms hurt by regulation receive more credit if located in less stringent environments.

Imported capital goods raised skill demand in China (2000–2010), leading to increased college attainment and skilled migration. This response accounted for 3.1–7.3 million more graduates—4.4–10.4% of the national increase—with gains concentrated in coastal regions.