• Optimal Carbon Offsets with Heterogeneous Regions 

      Belfiori, Elisa; Macera, Manuel (Universidad Torcuato Di Tella, 2024-02-08)
      We study optimal climate policy in a global economy where regions differ in wealth and vulnerability to climate change. Carbon emissions from production generate out- put losses - a negative climate externality - and a ...
    • Political Uncertainty and the Geographic Allocation of Credit: Evidence from Small Businesses 

      Penas, María Fabiana; Mâo-De-Ferro, Ana; Cerqueiro, Geraldo (Journal of Money, Credit and Banking (e-ISSN:1538-4616), 2024-05-23)
      We investigate how banks change the geographic distribution of their small business loan portfolio when they face political uncertainty in some of the states where they operate. Using exogenous variation in gubernatorial ...