In this paper we examine the sustainability of euro area public finances against thebackdrop of population ageing. We critically assess the widely used projections of theWorking Group on Ageing Populations (AWG) of the EU's Economic PolicyCommittee and argue that ageing costs may be higher than...

Introduction: the puzzle of growth in dictatorships -- Network theory of private protection -- Political institutions and consolidated dictatorship -- Private policies -- Stable pool of private enforcers -- Network of private protection -- Conclusion -- Appendix: Network data -- Notes --...

It is often assumed that recent success in the high-technology software industry will lead India's development. However, evidence suggests that basic manufacturing industry is stagnant. This paper proposes a mechanism that ties these two trends together. A big-push type of model, featuring...