Design options in exchange rate, monetary and fiscal policies, are explored for economies in Central Europe and Latin America that aspire to engage in monetary unification. Recent experience in these regions suggests that, absent a model of institutional harmonization and a road map for policy...

Design options in exchange rate, monetary and fiscal policies, are explored for economies in Central Europe and Latin America that aspire to engage in monetary unification. Recent experience in these regions suggests that, absent a model of institutional harmonization and a road map for policy...

We present a model in which the media provide voters with information that is tainted by their own preferences, and derive an equilibrium in which media endorsements influence voting behavior. Competition for media endorsement causes political parties to adopt more centrist policies, which...

Far-reaching transformations in Swiss education were pushed in the last decade by two prominent international initiatives, namely the 1999 Bologna process and the OECD's PISA study starting in 2000. To what extent and in which way were these soft governance initiatives able to trigger Swiss...

The literature on policy convergence has identified numerous aspects and possible causal drivers of convergence. We classify and condense these into a comprehensive framework, which is operationalized for support policies for renewable energy sources in the EU. Our analysis advances the...

We derive the optimal contributions to global climate policy when countries differ with respect to income level and pollution intensity. Countries' growth rates are determined endogenously, and abatement efficiency is improved by technical progress. We show that country heterogeneity has a...

This essay argues that mainstream Left and Right parties' convergence around the liberal moral foundations of care, fairness, and liberty most likely explains the popular discontent with establishment politicians and the ascendancy of insurgent political parties and movements in both Europe and...