The persistence literature in economics and related disciplines connects recent outcomes to events long ago. This influential literature marks a promising development but has drawn criticism. We discuss two prominent examples that ground the rise of the Nazi Party in distant historical roots....

Guinnane and Hoffman (subsequently GH) comment on two of our papers: Voigtländer and Voth: “Persecution Perpetuated” (2012, subsequently PP) and Satyanath, Voigtländer and Voth: Bowling for Fascism (2017, subsequently BF). They allege that our econometric results are fragile and depend on...

Historical events are reflected in asset prices. In this paper, we analyse government bond prices of Germany and Austria traded on the Swiss bourse during WWII. Some war events that are generally considered crucial are clearly reflected in government bond prices. This holds, in particular, for...

Brain drain is a core economic policy problem for many developing countries today. Does relative inequality in source and destination countries influence the brain-drain phenomenon? We explore human capital selectivity during the period 1820-1909.We apply age heaping techniques to measure human...

We analyze differences in tax filing behavior between natives and immigrants using population-wide Swedish administrative data, focusing on two empirical examples. First, controlling for a rich set of variables, we compare deduction behavior of immigrants and natives with the same commuting...

This paper studies external sovereign bonds as an asset class. We compile a new database of 220,000 monthly prices of foreign-currency government bonds traded in London and New York between 1815 (the Battle of Waterloo) and 2016, covering 91 countries. Our main insight is that, as in equity...

The socio-economic impact of Reaganomics and its long-run deleterious legacy is documented. The preponderance of data indicate that economic growth was not particularly impressive in the wake of the tax cuts of 1981 or 1986. GDP did snap back to potential but failed to accelerate beyond the...

We investigate how protectionist policies influence short-run economic growth. Our empirical strategy exploits an extraordinary tax scandal that gave rise to an unexpected change of government in Sweden. A free-trade majority in parliament was overturned by a protectionist majority in 1887. The...

This study examines the causal joint effect of a new political regime and war against Iraq on life expectancy of Iranians for the period 1978–1988 during the revolution and war. I use a synthetic control approach to construct a synthetic Iran based on a weighted average of other Middle East...