We analyze the effects of ownership of liberty bonds, which were marketed to households during World War I, on election outcomes in the 1920s. In order to address the endogeneity of liberty bond subscriptions, we utilize the local severity of the fall 1918 influenza epidemic, which disrupted the...

We analyze the effects of ownership of liberty bonds, which were marketed to households during World War I, on election outcomes in the 1920s. In order to address the endogeneity of liberty bond subscriptions, we utilize the local severity of the fall 1918 influenza epidemic, which disrupted the...

States often bargain over objects that affect their future bargaining power. A large territory, for example, is not only valuable in itself, but also as a source of raw material, population and defense. As a result, states not only try to maximize their benefits when they negotiate over the...

Warren Buffett Value Indicator or Buffett Indicator is the ratio of financial capitalization to GDP for a given time for a country. Buffett Indicator is used as a buy or sell signal to many investors around the world. This paper attempts to determine whether the scaling relationship may exist...