So far, 2020 has been such a crappy year.

So, let’s focus on the positive. At least it was productive.

I am preparing my end-of-year report and I just realized that, together with a group of great friends & coauthors, we published 6 papers, 2 eBooks, ...

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...an important policy report, & 4 working papers. Also many eEvents, including a fantastic D-DebtCon, a couple of newspaper articles (thanks @lucianocapone) & several @voxeu columns (thanks @BaldwinRE), plus a super @cepr_org Geneva Report which just came out....

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So, first of all. Thanks to @CEPR @IHED @CFD_IHEID @DevPolJournal for providing a supportive environment in a very difficult period and...

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...to all friends and co-authors in these projects (@Yi_HEID @M_Pagano_Econ Mitu Gulati, @ricardo_hausman Ed. Fernandez Arias @SFGaliani @SimeonDjankov P. Bolton @pogourinchas Lee Buchheit, Chang-Tai Hsieh @bweder @AGelpern @taddei76 ).

A brief description follows...

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In "Local Crowding‐Out in China" (joint with @Yi_HEID & @M_Pagano_Econ),which just came out in @JofFinance , we show that local public debt crowded out the investment of Chinese private