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Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics towards modern banking crises where financial guarantees are associated with crisis resolution. Recent crises feature a feedback loop between bank...
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Ten years after the initial Climate Change Convention from Rio in 1992, the developed world is likely to ratify the …
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We show that U.S. withdrawal from the Kyoto Protocol is straightforward under political economy considerations. The …
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