This paper studies the effects on electoral competition of political parties relying on monetary donations and volunteer labour for their electioneering activities. It also examines whether a recorded decline in party activism increases special-interest influence on party policy platforms....

This paper examines the question of achieving a societal consensus around redistributive policies. Its extent is measured by the degree of work participation among the different skill classes that populate the economy. This consensus is driven both by the material incentives and heterogeneous...

This paper studies the effects on electoral competition of political parties relying on monetary donations and volunteer labor for their electioneering activities. It also examines whether a recorded decline in party activism increases special-interest influence on party policy platforms....

Economists often describe nominal exchange rates as forward-looking, so that they reflect discounted, expected, future fundamentals. This study applies a method for identifying the discount rate involved, without knowing or measuring fundamentals. Identification arises from assumptions on the...

The gold-exchange standard in India 1893-1913 was characterized by a narrow target zone for the exchange rate, a wide annual range for the international interest-rate differential, and negative (seasonal) autocorrelation in interest rates. These properties are consistent with a standard...