Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding in terms of the relationship between the number of investors and the amount of money raised per pitch. We examine heterogeneity in the average amount raised per pitch that is associated ...
We study the role of international financial integration in buffering natural disaster shocks, using a large sample of advanced and emerging economies. Conditioning on such exogenous events addresses the endogeneity between financial structures and economic conditions. We document that integration improves shock absorption: output, consumption, and investment are significantly higher after a shock ...
Placebo tests, where a null result is used to support the validity of the research design, is common in economics. Such tests provide an incentive to underreport statistically significant tests, a form of reversed p-hacking. Based on a pre-registered analysis plan, we test for such underreporting in all papers meeting our inclusion criteria (n=377) published in 11 top economics journals between 20...
One of the primary objectives of protests and demonstrations is to bring social, political, or economic issues to the attention of politicians and the wider population. While protests can have a mobilizing and persuading effect, they may reduce support for their cause if turned disruptive or disorganised. In this study, we look at how local or spontaneously organized far-right and xenophobic...
