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and II, which would seemingly increase uncertainty. In a seminal paper, Schwert (1989) identified the "war puzzle" as one …
Persistent link: https://www.econbiz.de/10013172137
This paper reviews the economics approach to conflict and national borders. The paper provides a summary of ideas and concepts from the economics literature on the size of nations; illustrates them within an analytical framework where populations engage in conflict over borders and resources,...
Persistent link: https://www.econbiz.de/10012463089
Although most disputes between groups of people are settled peacefully, sometimes disputes result in war. This lecture … have to contend, and on the permanence of the outcome of a potential war. The lecture also contrasts the possibilities for …
Persistent link: https://www.econbiz.de/10012468514
The spending obligations and revenue sources of colonial New Jersey's provincial government for the years 1704 through 1775 are reconstituted using forensic accounting techniques from primary sources. Such has not been done previously for any British North American colony. These data are used to...
Persistent link: https://www.econbiz.de/10012457514
encompass the emergence of fully liberal political and social theory, and an early version of liberal political practice, in …
Persistent link: https://www.econbiz.de/10012457413
This paper investigates the drivers of support for market mechanisms (competition and optimizing behavior by agents). We elicit such attitudes using concrete and simplified situations where respondents face a tradeoff between an economically efficient situation and a pro-social objective. We...
Persistent link: https://www.econbiz.de/10013191037
states are much less likely to engage each other in war or in serious disputes short of war than are members of other pairs … than is that of other country pairs only after World War II. Before 1914 and between the World Wars, there is no difference … between the war rates of members of democratic pairs of states and those of members of other pairs of states. We also find …
Persistent link: https://www.econbiz.de/10012473888
This paper explores the role of restrictions on the use of international reserves as economic sanctions. We develop a simple model of the strategic game between a sanctioning (creditor) country and a sanctioned (debtor) country. We show how the sanctioning country should impose restrictions...
Persistent link: https://www.econbiz.de/10013191083
From decompositions of U.S. federal fiscal accounts from 1790 to 1988, we describe differences and patterns in how expenditure surges were financed during 8 wars between 1812 and 1975. We also study two insurrections. We use two benchmark theories of optimal taxation and borrowing to frame a...
Persistent link: https://www.econbiz.de/10012481698
This paper measures the effects of the risk of war on nine U.S. financial variables using a heteroskedasticity …-based estimation technique. The results indicate that increases in the risk of war cause declines in Treasury yields and equity prices …, a widening of lower-grade corporate spreads, a fall in the dollar, and a rise in oil prices. This war risk factor …
Persistent link: https://www.econbiz.de/10012469089