IMF retrospective and prospective: A public goods viewpoint

The paper investigates changes in IMF activities using the analytical framework of international public goods. The IMF promotes international financial stability, whose outputs are joint products with varying degrees of publicness. In recent years, IMF loans (recipient-specific benefits) have assumed decreased importance, while the Fund’s technical assistance and monitoring activities have taken on greater importance. As a consequence, the club and purely public outputs (e.g., disseminating best practices) have grown as a share of IMF activities. Changes in the mix of IMF activities alter the mix of international public goods and, in so doing, change policy recommendations regarding the role of IMF. The future of IMF is also addressed, especially in light of increased private capital flows.

One Thing Leads to Another: Making Sense of East Asia’s Repeated Tensions

Both the East and Southeast China Seas have been home to a series of repeated episodes of tension between the People’s Republic of China (PRC) and its neighbors. Much of the existing literature either treats such episodes as isolated data points or as the manifestation of underlying structural factors. In this paper, we argue that repeated tensions can have important effects on subsequent interactions, generating emergent dynamics with dangerous consequences. What is more, we believe those dynamics to already be in play in several of the disputes within East Asia today. Examining recent developments in PRC-Japan and PRC-Philippines relations, we seek to shed light on how iterated episodes of tension are shaping the trajectory of interactions in both dyads. We believe these insights can inform efforts to understand relations in the region and beyond, given the growing frequency and intensity of repeated tensions among actors.     

COVID-19 Stressors and Latinx Adolescents’ Mental Health Symptomology and School Performance: A Prospective Study

Journal of Youth and Adolescence - This study addressed the need for research examining impacts of the Coronavirus-19 (COVID) pandemic on Latinx adolescents’ adjustment. Survey data for a...     

Lobbying and lending by banks around the financial crisis by

Despite the unprecedented levels of liquidity provided by the Federal Reserve to banks during the 2007–2008 financial crisis, lending by banks slowed dramatically during and after that global episode. In this study, we propose that, given capital constraints, the lobbying expenditures by banks to combat Dodd-Frank might have crowded out lending activity. A variety of univariate and multivariate tests show that while lending by banks fell significantly around the financial crisis, lobbying rose dramatically. Our results also show that bank lobbying and lending are imperfect substitutes during non-crisis periods. Such substitutability likely is explained by the value perceived in the political connections gained through lobbying, such as the ability to influence regulation, preferential treatment on supervisory or enforcement decisions, and protection against adverse shocks in the form of government bailouts.