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Political Selection and Persistence of Bad Governments

Acemoglu, Daron - 2009

We study dynamic selection of governments under different political institutions, with a special focus on institutional "flexibility". A government consists of a subset of the individuals in the society. The competence level of the government in office determines collective utilities (e.g., by...

Persistent link: https://www.econbiz.de/10012463419

Aggregate Fluctuations from Independent Sectoral Shocks : Self-Organized Criticality in a Model of Production and Inventory Dynamics

Bak, Peter - 1992

This paper illustrates how fluctuations in aggregate economic activity can result from many small, independent shocks to individual sectors. The effects of the small independent shocks fail to cancel in the aggregate due to the presence of two non-standard assumptions: local interaction between...

Persistent link: https://www.econbiz.de/10012474722

The Architecture of Economic Systems : Hierarchies and Polyarchies

Sah, Raaj Kumar - 1984

This paper presents some new perspectives on the structure and performance of alternative economic organizations. We posit that decision makers make errors of judgement (for example, they sometimes select bad projects while rejecting good projects), and that how these errors are aggregated...

Persistent link: https://www.econbiz.de/10012477760

The Political Economy of Geoeconomic Power

Clayton, Christopher; Maggiori, Matteo; Schreger, Jesse - National Bureau of Economic Research - 2025

Great powers are increasingly using their economic and financial strength for geopolitical aims. This rise of "geoeconomics" has the potential to reshape the international trade and financial system. This paper examines the role of domestic political economy forces in determining a government's...

Persistent link: https://www.econbiz.de/10015194998

Geopolitics and the World Trading System

Mattoo, Aaditya; Ruta, Michele; Staiger, Robert W. - National Bureau of Economic Research - 2024

undermined the WTO. A simple transposition of the previous rationalization suggests that geopolitics and trade cooperation are … other circumstances, there are gains from trade cooperation even with geopolitics. Furthermore, the WTO's relevance is in … imperative, the WTO can continue to thrive as a forum for multilateral trade cooperation in the age of geopolitics …

Persistent link: https://www.econbiz.de/10015171695

The Impact of Bretton Woods International Capital Controls on the Global Economy and the Value of Geopolitical Stability : A General Equilibrium Analysis

Ohanian, Lee E.; Restrepo-Echavarria, Paulina; Van … - National Bureau of Economic Research - 2023

This paper quantifies the positive and normative impact of Bretton Woods capital controls on global and regional economic activity. A three-region DSGE capital flows accounting framework consisting of the U.S., Western Europe, and the Rest of the World (ROW) is developed to quantify capital...

Persistent link: https://www.econbiz.de/10014337829

Mars or Mercury? The Geopolitics of International Currency Choice

Eichengreen, Barry - 2017

We assess the role of economic and security considerations in the currency composition of international reserves. We contrast the "Mercury hypothesis" that currency choice is governed by pecuniary factors familiar to the literature, such as economic size and credibility of major reserve currency...

Persistent link: https://www.econbiz.de/10012453568

The Geopolitics of International Trade in Southeast Asia

Coşar, Kerem - 2020

Motivated by the historically tense geopolitical situation in Southeast Asia, we simulate the potential closure of key maritime waterways in the region to predict the impact on trade and welfare. We generate initial (unobstructed) and counterfactual (rerouted) least-cost maritime paths between...

Persistent link: https://www.econbiz.de/10012482267

Industrial Clusters in the Long Run : Evidence from Million-Rouble Plants in China

Heblich, Stephan; Seror, Marlon; Xu, Hao; Zylberberg, Yanos - National Bureau of Economic Research - 2022

We identify negative spillovers exerted by large, successful manufacturing plants on other local production facilities in China. A short-lived alliance between the U.S.S.R. and China led to the construction of 150 "Million-Rouble plants" in the 1950s. Our identification strategy exploits the...

Persistent link: https://www.econbiz.de/10013477236

Is the Global Economy Deglobalizing? And if so, why? And what is next?

Goldberg, Pinelopi K.; Reed, Tristan - National Bureau of Economic Research - 2023

Data on global trade as well as capital and labor flows indicate a slowdown, but not reversal, of globalization post the 2008-09 financial crisis. Yet profound changes in the policy environment and public sentiment in the largest economies over the past five years suggest the beginning of a new...

Persistent link: https://www.econbiz.de/10014250133