This paper provides a new foundation of soft drink taxation. We abstract from externalities and internalities previously used to justify such taxation and, instead, emphasize that neither explicit nor implicit markets and prices for sugar content can be expected to emerge. Hence, in the absence...

We test the predictions of a behavioral model of transactional electoral politics in the context of a randomized anti-vote-selling intervention in the Philippines. We model selling one's vote as a temptation good: it creates positive utility for the future self at the moment of voting, but not...

This paper investigates the biological standard of living toward the end of Spanish rule. We investigate levels, trends, and determinants of physical stature from the birth cohorts of the 1860s to the 1890s using data on 23,000 Filipino soldiers enlisted by the U.S. military between 1901 and...

This paper explores firms' export dynamics in emerging economies where local firms face stiff foreign competition, both at home and abroad, and thus compelled to choose the level of quality in which to export. We develop and test a model of vertical product differentiation where the link between...

We offer a new methodology for the assessment of public debt sustainability in a stochastic economy when sovereign default taken into account. The default threshold differs from the no-Ponzi condition and depends on the post-default debt recovery rule. We distinguish sustainability and...

Using an economic model to assess welfare risk and resilience to disasters, this paper systematically tackles the questions: 1) How much asset and welfare risks does each region in the Philippines face from riverine flood disasters? 2) How resilient is each region to riverine flood disasters?...

This paper examines the responses of private consumption, residential investment, and business investment in 11 EU countries, Japan, and the United States to shocks in housing and equity prices. The effects are assessed with a Structural Vector Auto Regressive (SVAR) model, and four key findings...