We use census-like data and a regression discontinuity design to study the labor market impacts of a signal provided by a government-sponsored award given to top-performing students on a nationwide college exit exam in Colombia. Students who can signal their high level of specific skills earn...

As the economies are becoming knowledge intensive and industries are encountering hypercompetitive technology environments, and the markets undergoing large scale globalization with firms experiencing wild fluctuations in financial performance, firm governance structure and the functioning of...

In the last couple of decades, there has been a substantial revival of interest in institutional analysis, being outlined three major theoretical paradigms: rational choice new institutionalism, historical new institutionalism and sociological new institutionalism. In the present paper, we...

Am 28. Juni 2017 fand die 68. Jahresversammlung des ifo Instituts in der Großen Aula der Ludwig-Maximilians- Universität München (LMU) statt. Der öffentliche Teil der ifo Jahresversammlung stand dieses Jahr ganz im Zeichen des Wechsels von ifo-Vorstand Meinhard Knoche in den Ruhestand. In...

Many experimental studies report that economics students tend to act more selfishly than students of other disciplines, a finding that received widespread public and professional attention. Two main explanations that the existing literature offers for the differences found in the behavior...

Revolutions do not consolidate until they blend with the establishment to create a new world. Keynes understood it, and that is why he titled his masterwork The General Theory. But he was unsuccessful in the blending. In 2020-21, it is argued in here, we all follow Keynes, but with insufficient...

None of the known macroeconomic theories are adequate to understand what to do in a global crisis like the 2020 Global Pandemic. Rational Expectations and monetarism cannot even ex-plain how is that a global crisis like this happens. The IS-LM model was designed to manage business cycles, but...

The argument made in this manuscript is that the two traditional macroeconomic tools, fiscal policy and monetary policy, are insufficient to bring back efficiently into equilibrium an economy that has had a major crisis. Both traditional macro-tools only work through the demand side, and there...