In "How should the distant future be discounted when discount rates are uncertain?" (2010) Gollier and Weitzman claimed having solved the Weitzman-Gollier puzzle, concluding from a risk-averse utility maximizing model that Weitzman discounting is qualitatively correct and that when uncertain...

This paper offers the first multivariate regression study of international migration in early modern Europe. Using unique eighteenth-century data about maritime workers, we created a data set of migration flows among European countries to examine the role of factors related to geography,...

This paper investigates the prevalence of vote-buying in democratic elections where stringent restrictions on corporate donations to political parties exist. We combine data from state assembly elections in India with household-level consumer expenditure surveys (conducted by NSSO) over the...

A counterexample is presented to show that the sufficient condition for one transformation dominating another by the second degree stochastic dominance, proposed by Theorem 5 of Levy (Stochastic dominance and expected utility: Survey and analysis, 1992), does not hold. Then, by restricting the...

The authors propose a policy package of low-carbon growth stimulation through a steep increase in sustainable infrastructure, mobilizing sustainable finance, and adoption of carbon pricing to simultaneously achieve the objectives of the Paris Agreement and the Sustainable Development Goals.

Political opposition to globalisation has risen in industrialized countries, although the positive overall effects on the growth of the world economy and the alleviation of poverty are empirically verifiable. However, the effects of globalisation vary according to regions, professional groups,...

We are witnessing the start of a deep and prolonged political convulsion. This convulsion is caused by the impact of technological change on how wealth is generated and distributed in our societies. Since the 1970s advanced economies have seen a strong productivity increase and stagnant labor...

In this paper, the authors set out to date-stamp periods of US housing price explosivity for the period 1830-2013. They make use of several robust techniques that allow them to identify such periods by determining when prices start to exhibit explosivity with respect to its past behaviour and...

The roles of non-governmental or civil society organizations have become more complex, especially in the context of changing relationships with nation states and the international community. In many instances, state-civil society relations have worsened, leading experts to speak of a "shrinking...

The authors solve the IS puzzle for the G7 countries. They find that five of the G7 countries have the expected significant negative relationship between the output gap and the realrate gap; the time series of the remaining two show material deviation from expected IScurve behavior. The authors...