Policemen are known to support colleagues who are the subject of criminal investigations. While we might expect guilty officers to defend each other, why do law-abiding policemen defend those who have broken the law? We investigate under what conditions it is in the interest of a group to defend...

This paper formalizes the relation between comparative statics and the out-of-equilibrium explanation for how a system evolves after a change in parameters.

The empirical evidence presented in this paper casts serious doubts on the by now widely accepted "stylized factes" of the exchange rate based stabilization programs (ERBS) as they are stated in Kiguel and Liviatan (1992) and in vegh (1992).

We study the beliefs and values of Peronism. Instead of a comprehensive approach, we focus on three elements. First, we study beliefs and values about the economic system present in Peron's speeches during the period 1943-55. Second, given that these beliefs are non-standard (for economists), we...

We study the logic of Peronist interventionist polices and the beliefs that support them. Instead of a comprehensive approach, we focus on three elements. First, we study beliefs and values about the economic system present in Peron's speeches during the period 1943-55. Second, we study survey...

We note some problems in Alesina and Angeletos (2005) and suggest a way to maintain the key insight of that paper, which is that a demand for fairness could lead to different economic systems such as those observed in France versus the US (multiple equilibria)

We describe the evolution of selective aspects of punishment in the US over the period 1980-2004. We note that imprisonment increased around 1980, a period that coincides with the "Reagan revolution" in economic matters. We build an economic model where beliefs about economic opportunities and...

We describe the evolution of selective aspects of punishment in the United States over the period 1980–2004. We note that imprisonment increased around 1980, a period that coincides with the ‘‘Reagan revolution'' in economic matters. We build an economic model where beliefs about economic...