The aim of the paper is to study the relation between the demand for human rights and foreconomic prosperity. It analyzes the demand not, as it is often done in the literature, from the“voice” perspective (political activity), but rather looks at the “exit” perspective...

Ludwig von Mises hat Zeit seines Lebens die intellektuelle Auseinandersetzung mitantiliberalen und antikapitalistischen Ressentiments gesucht. Der vorliegende Beitraggreift die bereits durch Mises gestellte Frage nach möglichen Gründen für dieantikapitalistischen Ressentiments der...

Ludwig von Mises hat Zeit seines Lebens die intellektuelle Auseinandersetzung mitantiliberalen und antikapitalistischen Ressentiments gesucht. Der vorliegende Beitraggreift die bereits durch Mises gestellte Frage nach möglichen Gründen für dieantikapitalistischen Ressentiments der...

Dieser Beitrag skizziert eine Problemgeschichte des Liberalismus und bestimmt dannden Stellenwert, den Ludwig von Mises als Theoretiker des Liberalismus beanspruchenkann.[...]

In order to understand inefficient institutions, one needs to understand what mightcause the breakdown of a political version of the Coase Theorem. This paper considersan environment populated by ex-ante identical agents and develops a model of powerand distribution where institutions (the...

We analyze the role of risk-sharing institutions in transitions to modern economies.Transitions requires individual-level risk-taking in pursuing productivity-enhancing activitiesincluding using and developing new knowledge. Individual-level, idiosyncratic risk implies thatdistinct risk-sharing...

How does technological progress in financial intermediation affect the economy? To address this questiona costly-state verification framework is embedded into a standard growth model. In particular, financialintermediaries can invest resources to monitor the returns earned by firms. The...

We construct and estimate a unified model combining three of the main sources of cross-country income disparities:[...]