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We present a dynamic two-country model in which military spending, geopolitical risk, and government bond prices are jointly determined. The model is consistent with three empirical facts: hegemons have a funding advantage, this advantage rises with geopolitical tensions, and war losers suffer...
Persistent link: https://www.econbiz.de/10015056136
Although many modern studies find large and significant effects of prior colonial status on bilateral trade, there is very little empirical research that has focused on the contemporaneous impact of empire on trade. We employ a new database of over 21,000 bilateral trade observations during the...
Persistent link: https://www.econbiz.de/10012464882
history analysis, we find that trade was also a pathway of diffusion. Market access served as an important instrument to …
Persistent link: https://www.econbiz.de/10012463276
Has rising import competition contributed to the polarization of U.S. politics? Analyzing outcomes from the 2002 and …. Exploiting the exogenous component of rising trade with China and classifying legislator ideologies by congressional voting … interpret these results as supporting a political economy literature that connects adverse economic conditions to support for …
Persistent link: https://www.econbiz.de/10012456043
This paper considers the role of policy in an AI-intensive economy (interpreting AI broadly). It emphasizes the speed …
Persistent link: https://www.econbiz.de/10012453067
societies always have developed economies and developed polities suggests that the connection between economics and politics … must be a fundamental part of the development process. This paper develops an integrated theory of economics and politics … and limit violence. We call this type of political economy arrangement a natural state. It appears to be the natural way …
Persistent link: https://www.econbiz.de/10012465864
The Inca Empire was the last of a long series of highly developed cultures in pre-colonial South America. It stretched across parts of the current territories of Argentina, Bolivia, Chile, Colombia, Ecuador and the whole of Peru. The Inca Road was its 30,000-kilometer-long transportation system....
Persistent link: https://www.econbiz.de/10012599269
This paper describes the challenges of globalization in terms of the logic underpinning four distinct policy … economy trilemma between capital mobility, democracy and sovereignty; 4. The Financial stability trilemma between capital … vulnerabilities. They can be described as the impossible policy choices at the heart of globalization …
Persistent link: https://www.econbiz.de/10013388862
The world has seen two globalization booms over the past two centuries, and one bust. The first global century ended … concludes with four lessons of history and an agenda for international economists, including more attention to the impact of … globalization on commodity price structure, the causes of protection, the impact of world migration on poverty eradication, and the …
Persistent link: https://www.econbiz.de/10012469549
Persistent link: https://www.econbiz.de/10013480751