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This paper explores the dynamic effects of trade liberalization on tax revenue using a worldwide panel dataset. Results point to statistically significant negative effect of liberalization on (non- resource) tax revenues in the short term and no significant effect in the medium term. Liberalization also alter the tax structure tilting revenues toward indirect taxes away from direct ones.

Military expenditure shares significantly affect the relationship between the risk of civil conflict outbreak and natural resources. We show that a significant positive correlation between the risk of civil conflict outbreak and resource rents is limited to countries with low military expenditure shares. In countries with high military expenditure shares there is no significant relationship between the risk of civil conflict outbreak and rents from natural resources. An important message is thus that a conflict resource curse is absent in countries with sufficiently large military expenditure ...

This paper explores the interplay between concentration of wealth and policies, namely regulation and taxation. The paper exploits variation in exposure to international commodity prices. Using a global panel data set of the net worth of billionaires, the results point to a positive relationship between commodity prices and the concentration of wealth at the top.

The paper investigates the pace of technology adoption in telecom technology post liberalization and its effect on stock returns using a new global panel dataset. Results are twofold. First, evidence points to the complementarity between telecom liberalization and regulatory independence in driving a sustained pace of technology adoption.

Richard Baldwin The pandemic has forced firms to adapt their work processes to the infection dynamics and the public health measures to contain it (OECD 2021). The massive expansion of working from home, for example, has dramatically altered where and how employees perform their jobs (Bartik et al. 2021). Estimates suggest that 40–60% of the workforce has been working from home (e.g. Bellmann et al. 2020a, Taneja et al. 2021). At the same time, disruptions in supply chains, delays in production, and changes in consumer demand have created many new uncertainties. While uncertainty about the ...