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Blog Post
May 09, 2023
The climate-migration nexus is complex. Migration is not monocausal, and climate shocks are not the most important factors affecting movement: networks, education, resources, and other considerations all play a role in determining how people make migration choices. Complexity, however, is not a just...
Blog Post
April 27, 2023
The IMF should be applauded for implementing the Resilience and Sustainability Facility (RSF). That said, it is highly improbable that extending RSF financing to an additional 44 countries will be feasible in the next one or two years as it would require a major change in the mindset of borrowing co...
Blog Post
April 17, 2023
To what extent are the high returns on capital of "star firms" due to unmeasured differences in intangible invested capital? Once these differences are corrected, how do star firms differ in their output and investment strategies from other firms? Our evidence points not to exploitation of market po...
Blog Post
April 11, 2023
Regulatory arbitrage—the practice whereby banks try to escape jurisdictions with more stringent regulations in favor of less stringent ones—has been a topic of active research interest. Previous research has shown that banks do indeed direct financial flows to countries with less strict regulations,...
Blog Post
April 07, 2023
Another spring and summer season of international meetings follows yet another dire warning on climate, with action again lagging pledges. We need a “spring cleaning” of global ambition to focus on practical goals that can be achieved this year. Each institution—multilateral and national, public and...