The effect of changes in policy regimes on real interest rates has important implications for financial and economic theory. There is little current evidence that policy regime changes have any impact on the level of real interest rates. We use large political changes as our measure of policy...

We develop a positive political model of the U.S. Supreme Court. Looking at the Court's economic cases for the period 1953–1993, we find a significant larger fraction of conservative decisions under Republican presidents and more conservative leadership of the House and Senate Judiciary...

<Para ID="Par1">Empirically estimating managerial performance is often quite challenging. Without accurate measurement of managerial output or value added it is difficult to usefully analyze the labor market for managers. This paper uses shot selection between two-point and three-point shots to develop a...</para>

This article revisits the key issue raised by researchers who have empirically investigated the behaviour of short term US interest rates during the period 1890-1933. The seminal article of Mankiw, Miron and Weil (1987) argues that changes in the behaviour of nominal interest rates is best...

We find a negative and significant relationship between gubernatorial turnover and U.S. state economic growth. Although our finding of an inverse relationship between growth and political instability may seem to contradict Olson's (1982a) famous hypothesis regarding the growth retarding nature...