One of the core indicators in the field of scientometrics is the number of papers published by a unit within a given period. However, such indicators can only be assessed properly by considering the unit’s available resources. When evaluating the efficiency of institutions worldwide, the...

We investigate whether climate activism favors pro-environmental consumption by examining the impact of Fridays for Future (FFF) protests in Italy on second-hand automobile sales in rallyaffected areas. Leveraging data on 10 million automobile transactions occurring before and after FFF...

Between 2017 and 2024, the main national stock market indices rose in the US and the five largest European economies. However, the average daily performance of all six indices turns from positive to negative when weighted by daily media coverage. A case in point is the average daily performance...

This paper analyzes the inequalities and convergence across countries using data on the top 100 players in chess and tennis. We explore the impact of time trends and exogenous global shocks on countries' representation in the top 100 players' lists in a manner akin to a natural experiment,...

History shows militarily dominant states that pursue imperialism, relying on their might to extort resources from weaker states. Occasionally, the latter revolt and the dominant state suffers some casualties. This paper explores imperialism along steady-growth paths. If the dominant state...

Theory suggests that corporate and sovereign bonds are fundamentally different, also because sovereign debt has no bankruptcy mechanism and is hard to enforce. We show empirically that the two assets are more similar than you think, at least when it comes to high-yield bonds over the past 20...

This paper investigates the cyclicality of international reserves and their role in macroeconomic stabilization. We challenge two widely held assumptions: (1) central banks typically manage IR counter-cyclically—accumulating reserves during booms and drawing them down during downturns; and (2)...

We provide a selective overview of the literature on the linkages between interstate conflict and international trade, paying special attention to how trade openness (i) affects arming incentives, (ii) the channels through which its effects travel, and (iii) its consequences for the emergence of...

We consider a dynamic setting where two countries with competing claims to a resource/asset first arm and then choose whether to resolve their dispute through war or peacefully through settlement. War precludes international trade and can be destructive, but also locks gains and eliminates...