"State per capita incomes became more disperse during the contraction phase of the Great Depression, and less disperse during the recovery phase. We investigate the effects of geography, industry structure, bank failures and fiscal policies on state income growth during each phase. We find that...

This paper provides a theory to explain the paradoxical features of the great housing boom in China —the persistently faster-than-GDP housing price growth, exceptionally high capital returns, and excessive vacancy rates. The expectation that high capital returns driven mainly by resource...

This paper studies the U.S. economy from an original point of view: that of the links existing between crisis and war. The first part analyzes the workings of the current crisis, considered to be a “systemic” one. The second part places the U.S. economy at the very heart of this crisis. The...

This paper, mainly methodological, aims at providing an estimation of the number of U.S. military bases and personnel worldwide. The first part proposes a periodization of the spread of U.S. military bases. The second part exposes the official statistical data disseminated by the US Department...