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WORKING PAPERS
February 22, 2024
Antibiotic resistance (ABR) already contributes to almost five million deaths per year. Without action, this number will likely rise substantially. We provide the first comprehensive assessment of the economic drivers of ABR, arguing that ABR in large part arises from extensive unresolved market (an...
WORKING PAPERS
November 13, 2023
Epidemics and pandemics pose a sporadic and sometimes severe threat to human health. How should policymakers prioritize preventing and preparing for such events, relative to other needs? Our simulations suggest that an event having the mortality level of COVID-19 should not be considered a “once in ...
WORKING PAPERS
April 26, 2023
This paper finds that shareholders of highly leveraged firms benefit relatively less compared to bondholders from the corporate quantitative easing (QE) announcements by the European Central Bank and the Bank of England in March 2020, as evidence of debt overhang. Firms more heavily impacted by the ...
WORKING PAPERS
March 03, 2023
This paper examines the impact of the COVID-19 crisis on the reallocation of economic activity across firms, and whether this reallocation depends on the competition environment. The paper uses the World Bank’s Enterprise Surveys COVID-19 Follow-up Surveys for about 8,000 firms, including both small...
WORKING PAPERS
October 12, 2020
We compile a new data set, combining official sources with transaction-level records scraped from the World Bank website, spanning all commitments, disbursements, and payments on all World Bank loans from before the 2008-09 Global Financial Crisis through August 2020, allowing us to compare the...
WORKING PAPERS
May 14, 2020
The IMF’s forecasts of GDP growth in 2020 suggest a substantially muted impact of the COVID crisis for developing countries compared to advanced economies. We hope that the relative optimism will not induce complacency and elicit a less-than-forceful response by countries themselves nor legitim...