Following the experience of the global financial crisis, central banks have been asked to undertake unprecedented responsibilities. Governments and the public appear to have high expectations that monetary policy can provide solutions to problems that do not necessarily fit in the realm of...

We examine the immediate effects and bounce-back from six modern health crises: 1968 Flu, SARS (2003), H1N1 (2009), MERS (2012), Ebola (2014), and Zika (2016). Time-series models for a large cross-section of countries indicate that real GDP growth falls by around three percentage points in...

We analyze the determinants of the origin of domestic and international terrorism in a large panel data set of 159 countries spanning from 1970 to 2007. We show that terror increases with GDP per capita, a higher POLITY score measuring a more open and competitive political system and experiences...