In the present study, the authors examined the impact of financial sanctions on economic growth using Iran's data and intervention time-series analysis over the period 2005-2017. Financial sanctions targeted the country's financial resources and increased interest rates and medium- and long-term...

In this paper we combine two important ingredients - search and matching frictions and "fair wages," and investigate their combined quantitative importance in explaining fluctuations in Bulgarian labor markets. Overall, the calibrated real-business-cycle model for Bulgaria after the introduction...

Are groups of people better able to minimize a collective loss if there is a collective target that must be reached or if every small contribution helps? In this paper we investigate whether cooperation in social dilemmas can be increased by structuring the problem as a step-level social dilemma...

The introduction of digital technology has sparked new debates about the value of community health workers in low- and middle-income countries. This debate offers important insights into the conventions that are relevant in global public health. Community health workers, a workforce that was...

The theory of capital as power (CasP) is radically different from conventional political economy. In the conventional view, mainstream as well as heterodox, capital is seen a “real” economic entity engaged in the production of goods and services, and capitalism is thought of as a mode of...

Today, human capital theory dominates the study of personal income. But this has not always been so. In this essay, I chart the rise of human capital theory, and compare it to the rise (and fall) of eugenics. The comparison, I argue, is an apt one. Eugenics and human capital theory both focus on...

Bayes' statistical rule remains the status quo for modeling belief updating in both normative and descriptive models of behavior under uncertainty. Some recent research has questioned the use of Bayes' rule in descriptive models of behavior, presenting evidence that people overweight `good news'...

The catastrophic accident at the Fukushima Daiichi Nuclear Power Plant on March 11, 2011, revealed unexpected safety risks of nuclear energy once again. It also accelerated the decline of nuclear energy in the international energy sector: Nuclear energy's share of global electricity generation...

Der katastrophale Unfall im japanischen Kernkraftwerk Fukushima am 11. März 2011 brachte einmal mehr unerwartete Sicherheitsrisiken zutage und beschleunigte den Bedeutungsverlust von Kernkraft in der internationalen Energiewirtschaft. Ihr Anteil an der globalen Stromerzeugung fiel von vormals...

This paper takes an otherwise standard real-business-cycle (RBC) setup with government sector, and augments it with an output-expropriation mechanism and shocks to institutional quality in order to study business cycle fluctuations. The extraction decision is endogenous: households can use their...