After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This paper...

We use data from the 24-hours Belluno run which has the unique characteristic that participants are affiliated with teams and run for an hour. This allows us not only to study the individual relationship between age and performance but also to study group dynamics in terms of accessions to and...

We report experimental results on exclusive dealing inspired by the literature on "naked exclusion.'' Our key findings are: First, exclusion of a more efficient entrant is a widespread phenomenon in lab markets. Second, allowing incumbents to discriminate between buyers increases exclusion rates...

This paper presents experimental evidence from a monetary sticky price economy in which output and inflation depend on expected future inflation. With rational inflation expectations, the economy does not generate persistent deviations of output and inflation in response to a monetary shock. In...

This Paper presents the results of an experimental study on unemployment benefit sanctions. The experimental set-up allows us to distinguish between the effects of benefit sanctions once they are imposed (the ex post effect) and the effects that discourage the unemployed from risking benefit...