Reparations is a policy proposal aiming to address the wealth gap between Black and White households. We provide a first formal analysis of the economics of reparations using a long-run model of heterogeneous dynasties with an occupational choice and bequests. Our innovation is to introduce...

This paper investigates the extent of vengeful feelings and their determinants using data on more than 89,000 individuals from 53 countries. Country characteristics (such as per-capita income, average education of the country, presence of an armed conflict, the extent of the rule-of-law,...

Fiscal deficits, elevated debt-to-GDP ratios, and high inflation rates suggest hyperinflation could have potentially emerged in many European countries after World War I. We demonstrate that economic policy uncertainty was instrumental in pushing a subset of European countries into...