This study is an integrated survey of GARCH methodologies applications on 67 empirical papers that focus on cryptocurrencies. More sophisticated GARCH models are found to better explain the fluctuations in the volatility of cryptocurrencies. The main characteristics and the optimal approaches...

We investigate how changes in the administrative-territorial structure affect ethnic voting. We present an event study design that exploits the 2010 constitutional reform in Kenya, which substantially increased the number of primary administrative regions. We find (i) strong evidence for a...

By analyzing the case of Athens during the Classical period (508-323 BCE) the main thesis of this paper is that under direct democracy procedures and the related institutional setup, a monetary system without a Central Bank may function relatively well. We focus on the following issues: (i) Τhe...

The traditional normative literature on fiscal federalism argues that redistributive policies should be centralized in order to avoid welfare- or tax-induced migration. However, recent evidence shows that even in a setup where the progressivity of the income tax schedule is centralized to an...

What is decentralization, what is its underpinning rationale, and why might it matter for least-developed countries? This chapter has two goals: (i) to distill the enormous academic and policy literature on international experiences of decentralization into clear empirical conclusions; and (ii)...

We study the effect of ethnic diversity on local public spending following fiscal decentralisation in a setting where local institutions are salient. Specifically, the latter affects coordination costs and thereby cooperative behaviour across the constituent ethnic groups. Our theory highlights...