Legal provisions that interfere with the arrest and prosecution of politicians exist throughout much of the modern democratic world. Why and with what effects do societies choose to place their politicians above the law? We examine the institution of immunity both theoretically and empirically....

This paper tracks the development of sectoral saving and borrowing in the US economy over the past 50 years. We show that the financial imbalances that erupted in the financial crisis of 2008 were long in the making and preceded the emergence of global imbalances in the 2000s. The record low...

This paper reassesses the importance of colonial status to investors before 1914 by means of multivariable regression analysis of the data available to contemporaries. We show that British colonies were able to borrow in London at significantly lower rates of interest than non-colonies precisely...

Legal provisions that interfere with the arrest and prosecution of politicians exist throughout much of the modern democratic world. Why and with what effects do societies choose to place their politicians above the law? We examine the institution of immunity both theoretically and empirically....

Legal provisions that interfere with the arrest and prosecution of politicians exist throughout much of the modern democratic world. Why and with what effects do societies choose to place their politicians above the law? We examine the institution of immunity both theoretically and empirically....

Legal provisions that interfere with the arrest and prosecution of politicians exist throughout much of the modern democratic world. Why and with what effects do societies choose to place their politicians above the law? We examine the institution of immunity both theoretically and empirically....

Legal provisions that interfere with the arrest and prosecution of politicians exist throughout much of the modern democratic world. Why and with what effects do societies choose to place their politicians above the law? We examine the institution of immunity both theoretically and empirically....