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- October 2023
- Article
Stock Market Stimulus
By: Robin Greenwood, Toomas Laarits and Jeffrey Wurgler
We study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of...
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- 2022
- Working Paper
Stock Market Stimulus
By: Robin Greenwood, Toomas Laarits and Jeffrey Wurgler
We study the stock market effects of the arrival of the three rounds of “stimulus checks” to U.S. taxpayers and the single round of direct payments to Hong Kong citizens. The first two rounds of U.S. checks appear to have increased retail buying and share prices of...
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Keywords:
Stock Market;
COVID-19 Pandemic;
Fiscal Stimulus;
Stimulus Payments;
Impact;
Stocks;
System Shocks;
Price;
Spending;
United States;
Hong Kong;
China
- 2022
- Chapter
Fiscal Development under Colonial and Sovereign Rule
By: Ewout Frankema and Marlous van Waijenburg
This chapter explores differences in the making of a ‘modern’ fiscal state under colonial and sovereign rule. Focusing on African and Asian colonies (1820–1970) and their respective European metropoles, it argues that while the introduction of ‘modern’...
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Keywords:
Fiscal Modernization;
Colonial Rule;
Economic History;
Sovereign Finance;
History;
Taxation;
Africa;
Asia
- June 2021 (Revised February 2023)
- Case
MicroStrategy: Accounting for Cryptocurrency
By: Jonas Heese and Annelena Lobb
On February 15, 2021, Alina Moss, an analyst who covered the technology company MicroStrategy, pondered a rise in MicroStrategy’s share price. Moss had dialed into the company earnings call. When it ended, Moss had more questions than answers. MicroStrategy had...
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- 2019
- Working Paper
Fiscal Rules and Sovereign Default
By: Laura Alfaro and Fabio Kanczuk
Recurrent concerns over debt sustainability in emerging and developed nations have prompted renewed debate on the role of fiscal rules. Their optimality, however, remains unclear. We provide a quantitative analysis of fiscal rules in a standard model of sovereign debt...
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- 2015
- Published Proceedings
Academic Engagement in Public and Political Discourse: Proceedings of the Michigan Meeting, May 2015
By: Andrew J. Hoffman, Kirsti Ashworth, Chase Dwelle, Peter Goldberg, Andrew Henderson, Louis Merlin, Yulia Muzyrya, Norma-Jean Simon, Veronica Taylor, Corinne Weisheit and Sarah Wilson
What is the role of the academic scholar within the discussions of the global challenges that are relevant to society, such as sustainability, health care, gun control, fiscal policy, and international affairs? How do scholars engage in a world in which knowledge is...
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- September 2014
- Article
Metropolitan Blueprints of Colonial Taxation? Lessons from Fiscal Capacity Building in British and French Africa, 1880-1940
By: Ewout Frankema and Marlous van Waijenburg
The historical and social science literature is divided about the importance of metropolitan blueprints of colonial rule for the development of colonial states. We exploit historical records of colonial state finances to explore the importance of metropolitan identity...
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Keywords:
Colonial Administration;
Quantitative Sources;
Governance;
Money;
Taxation;
Trade;
History;
Africa
- December 2006 (Revised January 2007)
- Case
Chief Timothy Adeola Odutola and Nigeria's Manufacturing Sector
By: Nitin Nohria, Anthony Mayo, Foluke Otudeko and Mark Benson
Chief Timothy Adeola Odutola was an important contributor to Nigeria's manufacturing sector, creating a multimillion-dollar conglomerate including three factories, a retail franchise, a cattle ranch, a 5,000-acre plantation, a sawmill, and an exporting business before...
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