This paper evaluates the scope and coverage of the Common Reporting Standard (CRS), an international automatic exchange of information regime intended to eliminate bank secrecy and reduce cross-border tax evasion. We obtain new, aggregated CRS data from 26 countries, covering roughly 30% of the global amount reported by the OECD for the year 2022. We first show that cross-border financial wealth continues ...
Housing bubbles and crashes are catastrophic events for economies, implying the enormous destruction of housing wealth, the risk of financial defaults, construction unemployment, and business cycle downturns. This chapter investigates whether governmental housing policies can affect the propensity of economies to build up speculative house price bubbles. Specifically, we focus on rent and credit deregulation ...
The introduction of the automatic exchange of bank information under the Common Reporting Standard (CRS) marked a breakthrough in the fight against global financial secrecy. In this report, we evaluate the scope and coverage of the CRS—in a context marked by limited evidence, primarily due to restricted access to CRS data. For this purpose, we have compiled newly aggregated CRS data from 16 countries, ...
We study the implications of fiscal rules for macroeconomic stabilization when countries are hit by adverse exogenous shocks. Exploiting the unpredictability of natural disasters, we document that economies with a fiscal rule absorb these shocks better than those without: the responses of GDP and private demand are significantly higher. This difference is coupled with more expansionary fiscal policy ...
Research Question/Issue: The introduction of gender quotas on corporate boards can disrupt the status quo, resulting in externalities that affect women's advancement within the company. This study investigates whether boardroom quotas contribute to promoting women further up the corporate ladder and facilitate access to a broader spectrum of positions. Research Findings/Insights: Using legislative ...
We study the role of social image in influencing lying behavior through a pre-registered within-subject experiment embedded in the 2020 wave of the German Socio-Economic Panel Innovation Sample (SOEP-IS). By exogenously manipulating the observability of lying across two tasks, we explore how individuals respond to increased image costs of lying. By exploiting the rich comprehensive socio-demographic ...
Job-related relocations are common. Standard economic models typically treat workers as isolated individuals, while most workers live and move as part of a couple. Using a dynamic event study with synthetic comparison groups and German data, we show that women within couples frequently become “tied movers”: following relocation, male partners experience substantial earnings gains (as both hourly wages ...
This study investigates the mediating role of psychosocial factors, including behaviors and motivations, in the association between school absences and academic achievement. Using comprehensive longitudinal data from England, linking National Pupil Database (NPD) school register data with Millennium Cohort Study (MCS) survey data (N=7,204), the analysis explores the impact of absences at ages 12/13 ...
