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procyclicality trap and actually become countercyclical. We trace this critical shift in fiscal policy to the quality of institutions …. We provide a formal analysis, which controls for the endogeneity of institutions and other determinants of fiscal … procyclicality, that strongly suggests that there is a causal link running from stronger institutions to less procyclical or …
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This paper proposes a simple model to study the relationship between domestic institutions - financial system … institutions can have different effects on capital flows. …
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"This paper extends the concept of star scientist to all areas of science and technology. We follow 1,838 stars' careers 1981-2004, using their publication history to locate them each year. The number of stars in a U.S. region or in one of the top-25 science and technology countries has a...
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