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March 8, 2024- The Federal Reserve Board announced a final rule that updates risk management requirements systemically important financial market utilities supervised by the...
November 7, 2023- The Consumer Financial Protection Bureau is proposing to use its larger participant authority to supervise nonbank companies that offer services like digital...
-- this post authored by Marek Ignaszak and Petr Sedlacek To gauge the efficacy of policies aimed at spurring growth, we must first fully understand the sources of aggregate growth. This column argues that understanding the drivers of economic growth requires paying attention not only to productivity and R&D dynamics at the firm level, but also to changes in demand for firms’ products. The authors provide a new perspective on commonly used supply-side pro-growth policies and open the door to analysing demand-side policies such as public procurement or product market regulation, which have b...
Kerem Cosar, Nezih Guner, James Tybout The informal sector accounts for a large part of the economy in most developing countries, yet it is understudied in economics. The informal sector captures, broadly speaking, all activities that are invisible to the government: operations of firms that are not registered with tax authorities and/or the employment of workers who are not covered by labour market regulations and do not receive benefits or severance payments when laid off. Recent empirical work that has studied trade liberalisation episodes in developing countries suggests that shifts into ...