This paper is a case study about investor behaviour of the government of Berne on capital markets in the 18th century, focussing mainly on London. Economic theory about principal-agent problems and portfolio administration will be used to analyse quantitative and qualitative data from government...

"During Britain's industrialization, Parliament operated a forum where rights to land and resources could be reorganized. This venue enabled landholders and communities to exploit economic opportunities that could not be accommodated by the inflexible rights regime inherited from the past. In...

Most efforts to detect the consequences of divided government in German federalism by analyzing legislative statistics have been unsuccessful. Therefore, there is still much debate in Germany about the gridlock potential of divided government, as there is in the United States. Using a...

The role and influence of the finance minister within the cabinet are discussed with increasing prominence in the recent theoretical literature on the political economy of budget deficits. It is generally assumed that the spending ministers can raise their reputation purely with new or more...

Currently, background, qualification and training of German top politicians are widely discussed by scholars and media. This paper provides new insights to this discussion by analysing significant differences between the chancellors, vice chancellors as well as ministers of the inner residual...

The number of parties in government is usually considered to increase spending. We show that this is not necessarily the case. Using a new method to detect close election outcomes in multi-party systems, we isolate truly exogenous variation in the type of government. With data from...