Whether trade can achieve societal change is a contested topic and difficult to investigate. This round-up aims at summarizing recent empirical research on this topic while focusing on democracy and democratization as an important part of societal change. No robust results for change arising...

This paper investigates the construction of moment conditions in discrete choice panel data with individual specific fixed effects. We describe how to systematically explore the existence of moment conditions that do not depend on the fixed effects, and we demonstrate how to construct them when...

We use high-frequency administrative data from Germany to study the effects of monetary policy on income and employment across the earnings distribution. Earnings growth at the bottom of the distribution is substantially more elastic to policy shocks. This unequal incidence is driven by...

Sleep is a source of energy. This energy is available in limited quantity and individuals must decide when it should be renewed and when it should be consumed. The economics of sleeping and the economics of resource extraction are one and the same. More specifically, utility maximization with...

Labour demand and wages depend on the state and volatility of relationships within firms. Good relationships lower profit-maximising wages and raise firms’ profits and hence constitute an asset to the firm. Wages are lower because when people enjoy collaborating in the absence of wage...

The concept of natural resource rents is much used in the natural resource economics literature. It is therefore somewhat surprising that in this same literature it is difficult to find a clear definition of the concept. Possibly as a result, the concept is often loosely employed and in some...