Related papers: Political Conflict and Economic Growth in Post-Ind…
We investigate the long-term impact of civil war on subnational economic growth across 78 regions in five former Yugoslav republics from 1950 to 2015. Leveraging the outbreak of ethnic tensions and the onset of conflict, we construct…
Geopolitical conflicts have increasingly been a driver of trade policy. We study the potential effects of global and persistent geopolitical conflicts on trade, technological innovation, and economic growth. In conventional trade models the…
Given the hyperinflation that most of the Latin American countries suffered in the 90 and their decision towards adopting dollarization and in most cases keeping their own currency, this paper analyzes the effectiveness of dollarization as…
The consequences of natural disasters, such as earthquakes, are evident: death, coordination problems, destruction of infrastructure, and displacement of population. However, according to empirical research, the impact of a natural disaster…
In the General Theory, Keynes remarked that the economy's state depends on expectations, and that these expectations can be subject to sudden swings. In this work, we develop a multiple equilibria behavioural business cycle model that can…
The article examines how institutions, automation, unemployment and income distribution interact in the context of a neoclassical growth model where profits are interpreted as a surplus over costs of production. Adjusting the model to the…
It is widely understood that diffusion of and simultaneous interactions between narratives -- defined here as persistent point-of-view messaging -- significantly contributes to the shaping of political discourse and public opinion. In this…
The best way to reconcile political actors in a controversial electoral process is a full audit. When this is not possible, statistical tools may be useful for measuring the likelihood of the results. The Venezuelan recall referendum (2004)…
The 2008 global financial crisis marked the beginning of a decade dominated by fiscal austerity policies in much of the developed world. This paper presents a qualitative narrative review of an extensive collection of academic literature to…
Analysis of wars and conflicts between regions has been an important topic of interest throughout the history of humankind. In the latter part of the 20th century, in the aftermath of two World Wars and the shadow of nuclear, biological,…
Nowadays, it is thought that there are only two approaches to political economy: public finance and public choice; however, this research aims to introduce a new insight by investigating scholastic sources. We study the relevant classic…
This paper identifies the causal effects of full-scale kremlin aggression on socio-economic outcomes in Ukraine three months into the full-scale war. First, forced migration after February 24th, 2022 is associated with an elevated risk of…
The following measures against unemployment are proposed: In the short term, to promote greater income for the poorest sectors. It is shown that this can be paid with the resulting increased production, without losing income to the other…
Social unrest may reflect a variety of factors such as poverty, unemployment, and social injustice. Despite the many possible contributing factors, the timing of violent protests in North Africa and the Middle East in 2011 as well as…
Persistent economic competition is often justified as a mechanism of innovation, efficiency, and welfare maximization. Yet empirical evidence across disciplines reveals that competition systematically generates fragility, inequality, and…
In this work we characterize sudden increases in the land price of certain urban areas, a phenomenon causing gentrification, via an extended Schelling model. An initial price rise forces some of the disadvantaged inhabitants out of the…
Finance is about how the continuous stream of news gets incorporated into prices. But not all news have the same impact. Can one distinguish the effects of the Sept. 11, 2001 attack or of the coup against Gorbachev on Aug., 19, 1991 from…
It is demonstrated that the US economy has on the long-term in reality been governed by the Keynesian approach to economics independent of the current official economical policy. This is done by calculating the two-point correlation…
This chapter provides new evidence on educational inequality and reviews the literature on the causes and consequences of unequal education. We document large achievement gaps between children from different socio-economic backgrounds, show…
Preferences often change -- even in short time intervals -- due to either the mere passage of time (present-biased preferences) or changes in environmental conditions (state-dependent preferences). On the basis of the empirical findings in…