WEF Working Papers

From ESRC World Economy and Finance Research Programme, Birkbeck, University of London
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50: Social Leanring with Course Inference

Antonio Guarino and Philippe Jehiel

49: Emerging Floaters: Pass-Throughs and (Some) New Commodity Currencies

Emanuel Kohlscheen

48: The Evolution of the Hong Kong Currency Board during Global Exchange Rate Instability: evidence from the Exchange Fund Advisory Committee 1967-1973

Catherine Schenk

47: Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals

Antonio Guarino and Marco Cipriani

46: When half the truth is better than the truth: A Theory of aggregate information cascades

Antonio Guarino, Steffen Huck and Heike Harmgart

45: No-Trade in the Laboratory

Marco Angrisani, Antonio Guarino, Steffen Huck and Nathan Larson

44: Multiple Equilibria in the Dynamics of Financial Globalization

Danny Cassimon and Bjorn Van Campenhout

43: Assessing the Long-Run Economic Impact of Labour Law Systems: A Theoretical Reappraisal and Analysis of New Time Series Data

Simon Deakin and Prabirjit Sarkar

42: Legal Origin, Juridical Form and Industrialisation in Historical Perspective: The Case of the Employment Contract and the Joint-Stock Company

Simon Deakin

41: Shareholder Protection and Stock Market Development: An Empirical Test of the Legal Origins Hypothesis

John Armour, Simon Deakin, Prabirjit Sarkar, Mathias Siems and Ajit Singh

40: 2008 Stock Markets and the Race to the Bottom: “Stuck” in China

Tyler Rooker

39: Financial Liberalisation and Political Variables: a response to Abiad and Mody

Brian Burgoon, Panicos Demetriades and Geoffrey Underhill

38: Creditor Protection and Banking System Development in India

Simon Deakin, Panicos Demetriades and Gregory James

37: Aid volatility, monetary policy rules and the capital account in African economies

Christopher Adam, Stephen O'Connell and Edward Buffie

36: Does the Chinese Banking System Promote the Growth of Firms?

Panicos Demetriades, Jun Du, Sourafel Girma and Chenggang Xu

35: Consumption risk, technology adoption and poverty traps: evidence from Ethiopia

Stefan Dercon and Luc Christiaensen

34: Political Economy Origins of Financial Markets in Europe and Asia

Svetlana Andrianova, Panicos Demetriades and Chenggang Xu

33: Disentangling from Sterling: Malaysia and the end of the Bretton Woods system 1965-72

Catherine Schenk

32: Inertia in Taylor Rules

Edward Driffill and Zeno Rotondi

31: Charting an Icarian Flightpath: The Implications of the Qantas Deal Collapse

Justin O'Brien

30: New Zealand’s Exchange Rate Regime, the Collapse of Bretton Woods,and the Twilight of the Sterling Area

Catherine Schenk and John Singleton

29: Woodford goes to Africa

Kang Yong Tan and David Vines

28: Are the facts of UK inflation persistence to be explained by nominal rigidity or changes in monetary regime?

David Meenagh, A. Patrick Minford, Eric Nowell, Prakriti Sofat and Naveen Srinivasan

27: Annuities and Aggregate Mortality Uncertainty

Justin van de Ven and Martin Weale

26: Empirical evidence on the new international aid architecture

Stijn Claessens and Danny Cassimon

25: Markets, Institutions, and Transaction Costs: The Endogeneity of Governance

Geoffrey Underhill

24: The Road to Extinction: Commons with Capital Markets

Jayasri Dutta and Colin Rowat

23: Legal Origin, Shareholder Protection and the Stock Market: New Challenges from Time Series Analysis

Sonja Fagernäs, Prabirjit Sarkar and Ajit Singh

22: Financial Development, Openness and Institutions: Evidence from Panel Data

Badi Baltagi, Panicos Demetriades and Siong Hook Law

21: Economic and Financial Integration between Hong Kong and Mainland China before the Open Door Policy 1965-75

Catherine Schenk

20: The ‘political poverty trap’: Bolivia 1999-2007

Paul Mosley

19: Economic Crisis and Political Participation in a Transitional Economy: Evidence from Russia

ALtay Mussurov and Paul Mosley

18: The Return of the State in Argentina

Jean Grugel and Maria Pia Riggirozzi

17: Good faith in sovereign debt restructuring: the evolution of an open norm in ‘localised’ contexts?

Dania Thomas and Javier García-Fronti

16: Monetary Policy Rules For Manging Aid Surges In Africa

Christopher Adam, Stephen O’Connell and Edward Buffie

15: The Political Economy of Global Financial Governance: The Costs of Basle II for Poor Countries

Stijn Claessens, Geoffrey Underhill and Xiaoke Zhang

14: Capital Flows, Interest Rates and Precautionary Behaviour: a model of "global imbalances"

Marcus Miller and Lei Zhang

13: Norms, Legitimacy, and Global Financial Governance

Geoffrey Underhill and Xiaoke Zhang

12: Openness, Institutions and Financial Development

Siong Hook Law and Panicos Demetriades

11: Government Ownership of Banks, Institutions, and Financial Development

Svetlana Andrianova, Panicos Demetriades and Anja Shortland

10: Currency Mismatches, Default Risk, and Exchange Rate Depreciation: Evidence from the End of Bimetallism

Michael Bordo, Christopher Meissner and Marc Weidenmier

9: Why Do Countries Peg the Way They Peg? The Determinants of Anchor Currency Choice

Christopher Meissner and Nienke Oomes

8: Transaction Costs and Informational Cascades in Financial Markets: Theory and Experimental Evidence

Marco Cipriani and Antonio Guarino

7: Fiscal Stabilisation Policy and Fiscal Institutions

Campbell Leith and Simon Wren-Lewis

6: Fiscal Sustainability in a New Keynesian Model

Campbell Leith and Simon Wren-Lewis

5: The Costs of Fiscal Inflexibility

Campbell Leith and Simon Wren-Lewis

4: A Sovereign Debt Model with Trade Credit and Reserves

Emanuel Kohlscheen and Stephen O'Connell

3: Why are there serial defaulters? Quasi-experimental evidence from Constitutions

Emanuel Kohlscheen

2: Financial Crises, 1880-1913: The Role of Foreign Currency Debt

Christopher Meissner and Michael Bordo

1: The Role of Foreign Currency Debt in Financial Crises: 1880-1913 vs. 1972-1997

Christopher Meissner and Michael Bordo