Using a panel fixed effects model for a sample of 121 countries covering 1975‐2005, we examine how financial development, financial liberalization and banking crises are related to income inequality. In contrast with most previous work, our results suggest that all finance variables increase...

We review the literature on the political economy of international organizations (IOs). Considering IOs as products of the preferences of various actors rather than monolithic entities we focus on national politicians, international bureaucrats, interest groups, and voters. By looking into the...

We develop a simple model that highlights the costs and benefits of fixed exchange rates as they relate to trade, and show that negative export-price shocks reduce fiscal revenue and increase the likelihood of an expected currency devaluation. Using a new high-frequency data set on...

The global distribution of talent is highly skewed and the resources available to countries to develop and utilize their best and brightest vary substantially. The migration of skilled workers across countries tilts the deck even further. Using newly available data, we first review the landscape...

There is little causal evidence about deep-rooted sources of support for shifting power from nation-states to international organizations. Focusing on the European Union, this paper develops the hypothesis that citizens appreciate the role of international organizations in constraining member...

Many migrations are temporary – a fact that has often been ignored in the economic literature on migration. Such omission may be serious in that expected migration temporariness can impart a distinct dynamic element to immigrants' economic behavior, generating possible consequences for...

Many experts claim that the incidence of suicide attacks is driven by religious cleavages. To test this hypothesis, we investigate whether the total number of suicide attacks per violent conflict or the annual number of suicide attacks per country is associated with simmering religious...

Carbon pricing regulates emission flows and collects rents from underlying fossil resource stocks. The resulting investment shift implies lower climate policy costs and improved welfare if capital is underaccumulated. We prove that under emission trading, such a beneficial macroeconomic...