In this paper, I explore the politically contested association between the degree of capitalism, captured by measures of economic freedom, and the risk and characteristics of economic crisis. After offering some brief theoretical considerations, I estimate the effects of economic freedom on...

In this paper, we abandon the stylized median voter and study (i) how distributional tensions can act in many different ways depending on social affinity and on the prospect of upward or downwardmobility of the different income classes, (ii) income distribution dynamics, intergenerational...

This paper sets out to explain the factors behind Ireland's exceptional period of economic growth from the early 1990s to the mid 2000s. It suggests that an unbending commitment to economic openness and an on-going effort to establish quality domestic institutions were the main drivers of the...

While the importance of institutions for explaining cross-country income differences is widely recognized, comparatively little is known about the origins of economic institutions. One strand of the literature emphasizes cultural differences while another points at exogenous environmental...

Aggregate votes for incumbent parties in post-war Germany were determined by the weighted-average growth of real per capita disposable income. Each percentage point of per capita real disposable income growth sustained over the legislative term yielded approximately two percentage points of...

This paper analyzes economic policies in resource rich countries and various mechanisms of resource curse leading to a potentially inefficient use of resources. Arguments are provided in favor of "conditional resource curse" hypothesis: resource abundance hampers growth if institutions of a...

This paper summarizes theoretical arguments and provides empirical evidence to support the statement that rational economic policies depend qualitatively on two factors – technological and institutional level of development of a country. We concentrate on the impact of three policies to...

It is suggested a Romer-Barro - type model of endogenous economic growth where producers contest for distribution of a fixed share of the government's tax revenue. The proportional contest mechanism is assumed. We studied conditions under which consumers gain or lose due to existence of the Rent...

As competition in the economic market yields consumer benefits, political competition is supposed to be welfare-enhancing for citizens in terms of providing information, increasing political choice, promoting competence and good behaviour. Even so, recent literature concerning the benefits of...

Labor productivity - output per hour worked - is an important factor determining the wealth of national economies and their standards of living. Its growth accounts for about half of per capita GDP growth in OECD countries. Despite its importance, it has received scant attention in political...