We model the effect of Protestant vs. Catholic denomination in an economic theory of suicide, accounting for differences in religious-community integration, views about man’s impact on God’s grace, and the possibility of confessing sins. We test the theory using a unique micro-regional...

Do empires affect attitudes towards the state long after their demise? We hypothesize that the Habsburg Empire with its localized and well-respected administration increased citizens’ trust in local public services. In several Eastern European countries, communities on both sides of the...

While women's employment opportunities, relative wages, and the child quantity-quality trade-off have been studied as factors underlying historical fertility limitation, the role of parental education has received little attention. We combine Prussian county data from three censuses - 1816,...

The interaction between investment in children’s education and parental fertility is crucial in recent theories of the transition from Malthusian stagnation to modern economic growth. This paper contributes to the literature on the child quantity-quality trade-off with new county-level...

This paper combines representative worker-level data that cover time-varying job-level task characteristics of an economy over a long time span with sector-level bilateral trade data for merchandize and services. We carefully create longitudinally consistent workplace characteristics from the...

Small businesses tend to be owned by wealthy households. Such entrepreneur households also own a large share of U.S. stock market wealth. Fluctuations in entrepreneurs' hunger for risk could therefore help explain time variation in the equity premium. The paper suggests an entrepreneurial...

Proprietors are an important group of stockholders and non-diversifiable entrepreneurial risk could therefore help explain time-varying risk premia on the aggregate stock market. This paper suggests an entrepreneurial distress factor that is highly correlated with the aggregate...

Empirical proxies of the aggregate consumption-wealth ratio in terms of a cointegrating relationship between consumption (c), asset wealth (a) and labour income (y), commonly referred to as cay-residuals, play an important role in recent empirical research in macroeconomics and finance. This...