Social distancing restrictions and health- and economic-driven demand shifts from COVID-19 are expected to shutter many small businesses and entrepreneurial ventures, but there is very little early evidence on impacts. This paper provides the first analysis of impacts of the pandemic on the...

This paper explores the impact of credit market on the entrepreneurs and demand for credit in a credit constrained economy and the resultant impact on the capital flows. In standard trade models the capital flows across countries are explained as a result of the rate of return differentials due...

How does electoral accountability affect the effectiveness of terrorism prevention in a democracy? We analyze the connection between electoral accountability and policy effectiveness in the context of terrorism prevention. We develop a formal model of an interaction between a government, a...

I investigate minority votes in the German Council of Economic Experts. The dataset contains information on the voting behavior of the council members over the period 1971-2011. The results show that the best predictor of minority voting is being nominated by the trade unions: a council member...

This paper analyses the welfare effects of a change from centralized to decentralized political authority. The potential disadvantage with decentralization in our model is that local dominant groups with rather extreme preferences may win the vote and implement policies that harm the well-being...