Paper: Macroprudential Policy in the Age of Cryptocurrencies Abstract: This paper studies how cryptoasset adoption weakens the stabilizing role of bank-based loan-to-value (LTV) regulation by introducing an...
Paper: Oligopsony and Collective Bargaining Abstract: Employers facing limited labor market competition may suppress wages below socially optimal levels. Unions can counteract wage suppression through collective bargaining,...
Paper: The Price of Presence: How Much Workers Value Remote Work Abstract: Using a revealed preference approach applied to administrative linked employer-employee data from Austria—which uniquely combine...
Paper: Capital Taxation and Political Institutions under Aggregate Risk Abstract: Across countries, more volatile economies levy lower effective capital taxes — with no comparable effect on labor...
Paper: The Cross Border Effects of Bank Capital Regulation in General Equilibrium Abstract: We examine the cross-border effects of bank capital requirements using a two-country...