Previous work has documented a greater sensitivity of long-term government bond yields to fundamentals in Euro area stress countries during the euro crisis, but we know little about the driver(s) of regime-switches. Our estimates based on a panel smooth threshold regression model quantify and...

How global warming affects human development is a central question for economists as well as social scientists. While most of the literature has focused on the impact of rainfall and temperatures on individual well-being, precipitations alone do not capture the actual soil water availability,...