Regulation

Working Paper

18 May 2020

Emergency Measures for Equity Trading: The Case Against Short-Selling Bans and Stock Exchange Shutdowns

After the Covid-19 crisis struck, equity prices abruptly plunged across the world. The clear prospect of an almost unprecedented decrease in supply and demand, coupled with extreme uncertainty about the longer-term prospects for the...

Luca Enriques | Marco Pagano
22 July 2020

Banning Cassandra from the Market? An Empirical Analysis of Short-Selling Bans during the Covid 19 Crisis

During the recent COVID-19 pandemic crisis, stock markets around the world have witnessed an abrupt decline in security prices and an unprecedented increase in security volatility. In response to a week of financial turmoil on the main...

Gianfranco Siciliano | Marco Ventoruzzo
08 December 2020

Exporting Pollution: Where Do Multinational Firms Emit CO2?

Despite widespread awareness of the detrimental impact of CO2 pollution on the world climate, countries vary widely in how they design and enforce environmental laws. Using novel microdata about multinational firms’ CO2 emissions...

Itzhak Ben-David | Yeejin Jang | Stefanie Kleimeier | Michael Viehs
16 September 2020

Regulatory Measures to Dismantle Pyramidal Business Groups: Evidence from the United States, Japan, Korea and Israel

Large business enterprises, from the railroad barons of nineteenth century America to Amazon and Google today, are often perceived as important for economic performance and, at the same time, as potential abusers of their...

Assaf Hamdani | Konstantin Kosenko | Yishay Yafeh

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