We propose a novel identification strategy to measure monetary policy in a structural VAR. It is based exclusively on known past policy shocks, which are uncovered from high-frequency data, and does not rely on any theoretical a-priori restrictions. Our empirical analysis for the euro area...

In this paper we analyse the economic effects of railway infrastructure at the national level for European countries as well as at the local level for Southeast European cities based on a novel railway database capturing decades of the 19th century up to the early 21th century. A panel fixed...

We propose a novel identification strategy to measure monetary policy in a structural VAR. It is based exclusively on known past policy shocks, which are uncovered from high-frequency data, and does not rely on any theoretical a-priori restrictions. Our empirical analysis for the euro area...

Die Wohnraumversorgung ist ein wichtiger Indikator für das Wohlbefinden innerhalb einer Gesellschaft. In der DDR versprach die sozialistische Wohnungspolitik den BürgerInnen niedrige Mieten und einen hohen Kündigungsschutz. Dafür war die durchschnittliche Wohnraumqualität gering und die...

I study whether monetary gold hoarding was the main cause of the Great Depression in a structural VAR analysis. The notion that monetary forces played an important role in bringing about the depression is well established in the narrative literature, but has more recently met some skepticism by...

The European Single Market created a common market for millions of Europeans. However, thirty years after its introduction, it appears that the benefits of the common European project are occasionally being questioned at least by some parts of the population. Others, by contrast, strive for...

This study analyzes how state capacity shapes the local impact of national policies by exploiting a quasi-natural experiment in the regional expansion of the state. It uses the local discontinuity created by the boundary of the largest peasant rebellion in 18th century Russia where the state...

We apply insights from the political economy of secession to analyse the early years of the Irish Free State (IFS). The IFS was fortuitous in a debt settlement that enabled it to begin its existence debt free, whilst also receiving financial assistance to quell civil unrest. Yet the IFS was...

Between 1890 and 1913, Russian Empire experienced a rapid transition to an industrial economy, catching up with Western countries. Using accidental elements in German settlement locations in Russia 1763-1861, the paper estimates the effects of the more educated Germans in Russia's industrial...

The study investigates the effect of mining on both poverty and income inequality in Central and Eastern European countries (CEECs) using econometric estimation methods with panel data spanning from 2009 to 2019. Another objective of this paper was to determine if the complementarity between...