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Policy and inequality response to uncertainty shocks: A multi-country analysis   This paper investigates the effects of uncertainty shocks on public debt and inequality across 25 developed and emerging economies over an average period of 30 years, using a structural vector autoregression (SVAR) framework. While uncertainty shocks are generally recessionary, their macroeconomic and distributional effects […]

Applicant choice in the design of social housing allocations : Evidence from France Although social housing is prevalent in many developed countries, there is no consensus over how to design allocation rules. Measuring the impact of a change in rules requires predicting how applicants will respond. In a context where rents are fixed, application data […]

Owning More of the Chain: Capital Subsidies and Firm-Level Upstream Shifts in China This paper examines the causal effect of China’s capital-goods import subsidy on firms’ production organization from a global value chain perspective. Implemented through the Catalogue for the Guidance of Importing Technologies and Products, the policy subsidized high-tech equipment to promote industrial upgrading and deeper GVC […]