the social elasticity of the matching function with respect to unemployment. …

In this paper, we explore the fluctuations of unemployment and vacancies in the Italian labour market over the last … line with previous findings on the unemployment volatility puzzle, we find that the labour market tightness indicator is …

political pressure to reduce corruption if financial institutions are missing. Our model is based on the fact that corrupt … the rents from corruption. In a probabilistic voting model, we show that a lack of financial institutions can lead to more …-functioning financial institutions, in turn, can increase the political support for anti-corruption measures. …

intensifies. We find that the better the institutions and the more competitive the banking sector, the higher the bank’s incentive …

substitute some functions of missing institutions, for example, enforcing contracts. We investigate this by setting up a model …

substitute some functions of missing institutions, for example, enforcing contracts. In a two period model, there is no contract …

positions. In a probabilistic voting model, we show that a lack of financial institutions can lead to more corruption as more … voters become part of the corrupt system. Well-functioning financial institutions, in turn, can increase the political …