Institutions can affect individual behavior both via their efficiency impact and via their risk reducing mechanisms … simultaneously extant institutions. This paper presents a simple model of institutional choice in a labor market when there is a risk …

We offer complete characterizations of the equilibrium outcomes of two prominent agenda voting institutions that are … equivalently the Euro-Latin procedure. Our axiomatic approach provides a proper understanding of these voting institutions, and …

instead analyze the effect of institutions on civil war, controlling for income per capita. In our set up, institutions are … endogenous and colonial origins affect civil wars through their legacy on institutions. Our results indicate that institutions … civil war. In particular, an improvement in institutions from the median value in the sample to the 75th percentile is …

associated with inequality adversely affected the emergence of institutions that promote human capital accumulation. The research …

from institutions, and to some extent, geography, on long-run prosperity and TFP, may be thus explained. …

distribution of land ownership, adversely affected the implementation of human capital promoting institutions (e.g., public …

institutions. The study conducts a literature review on the theoretical and empirical works of economic growth, with emphasis in …

they destroy the balance sheets of domestic banks. In our model, better financial institutions allow banks to be more … declines in private credit, and these declines should be larger in countries where financial institutions are more developed …