Based on probit estimates, this paper analyzes the effects of fiscal consolidation on the proba-bility of sovereign defaults in the short run. Using a panel of 104 developing countries from 1980 to 2009 and controlling for various economic, fiscal and political factors, we find that fiscal...

Social mobility is a key element of meritocratic societies. We analyze multigenerational social mobility with a hand-collected yearly Swiss dataset from 1550 to 2019. With our surname-based approach, we measure the Swiss society's overall permeability over more than 450 years. Furthermore, we...