There has been a dramatic change in the division of responsibility between the state and the private sector for the …

Eastern European countries than in the former Soviet Union. Moreover, the frequency of government reaction, and the … the frequency and severity of government reaction help explain the choice of political regime after 1989/1991, the … concentration of power in the executive branch of government. The vibrancy of civil societies and their level of organization before …

We investigate how vertical unity within a community interacts with horizontal class divisions of an unequal income … distribution. Community is conceptualized in terms of a public good to which all those in the community have equal access, but from … communities. Ideologies of community solidarity may well trump those of class solidarity because of the implicit sharing of …

part of the paper’s motivating evidence we also uncover a new fact: in both international and cross-state U.S. data, there … but sometimes erode religious beliefs; (ii) a government, endogenously in power, that can allow such innovations to spread …

We study the pricing of political uncertainty in a general equilibrium model of government policy choice. We find that … reduces the value of the implicit put protection that the government provides to the market. It also makes stocks more … volatile and more correlated when the economy is weak. In addition, we find that government policies cannot be judged by the …