This paper examines whether involvement with religious organizations insures an individual’s stream of consumption and of happiness. Using data from the Consumer Expenditure Survey (CEX), we examine whether households who contribute to a religious organization are able to insure their...

We estimate how the marginal utility of consumption varies with health. To do so, we develop a simple model in which the impact of health on the marginal utility of consumption can be estimated from data on permanent income, health, and utility proxies. We estimate the model using the Health and...

We develop a simple, n-country model to consider the costs and benefits of joining a monetary union. Our factor-OCA framework encompasses different approaches and allows us to consider the optimal composition of a monetary union for all the potential members. We illustrate the model in practice...

The nation-state system, democratic politics, and full economic integration are mutually incompatible. Of the three, at most two can be had together. The Bretton Woods/GATT regime was successful because its architects subjugated international economic integration to the needs and demands of...

In a paper called "Racial Profiling," published in "Philosophy and Public Affairs" in 2004, Richard Zeckhauser and I offer some reflections on moral issues pertaining to the use of race in police tactics. This paper has attracted a considerable amount of criticism. The present paper has been...

In seeking to understand the root causes of the events of 9/11 many accounts have turned to Samuel P. Huntington's provocative and controversial thesis of a "clash of civilizations", arousing strong debate. Evidence from the 1995-2001 waves of the World Values Study provide survey evidence...

he main purpose of industrial policy is to speed up the process of structural change towards higher productivity activities. This paper builds on our earlier writings to present an overall design for the conduct of industrial policy in a low- to middle-income country. It is stimulated by the...

This paper, written for a conference on biomedical innovation at the University of Kiel, examines the theory of induced innovation, with science-push and demand-pull variants, in the context of pharmaceutical R&D. It explores how the theory applies under varying market structure, uncertainty,...

Human rights are rights that are invariant with respect to conventions, institutions, culture, or religion. One concern about such rights is the problem of parochialism, the question of whether human rights can plausibly be of global reach and thus justify actions even against societies that do...

World food prices have increased dramatically in recent years. We use panel data from 2006 to examine the impact of these increases on the consumption and nutrition of poor households in two Chinese provinces. We find that households in Hunan suffered no nutrition declines. Households in Gansu...