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...

This paper explores the idea that institutional details matter and that attempts to estimate the economic effects of federalism by employing a simple dummy variable neglect potentially important institutional details. Based on a principal component analysis, seven aspects of both federalism and...

Gordon Tullock has been one of the most important founders and contributors to Public Choice. Two innovations are typical 'Tullock Challenges'. The first relates to method: the measurement of subjective well-being, or happiness. The second relates to digital social networks such as Facebook,...

The offshoring of production by multinational firms has expanded dramatically in recent decades, increasing these firms’ potential for economic growth and technological transfers across countries. What determines the location of offshore production? How do countries' policies and...

This paper offers a meta-regression analysis of the literature on the drivers of financial development. Our results based on 1900 estimates suggest that institutional quality is positively correlated to both private sector credit and stock market capitalization (both as share of GDP). Domestic...

We develop a model where firms profit from coercing workers into employment under conditions violating national law and international conventions and where bureaucrats benefit from accepting bribes from detected perpetrators. Firms and bureaucrats are heterogeneous. Employers differ in their...

We review an empirical literature that studies the role of social interactions in driving economic and financial decision making. We first summarize recent work that documents an important role of social interactions in explaining household decisions in housing and mortgage markets. This...