This paper introduces a simple model to estimate the dynamic adjustment of subjective well-being that results from an updating of expectations in response to changing circumstances. Empirical evidence indicates that adjustment takes place within a relatively short window of time.

Do pro-trade effects of free trade agreements reflect timing of policy or dynamic trade adjustment? Only the latter involves dynamic welfare gains. I find that dynamic trade adjustment is as important as the immediate impact effect of free trade agreements.

The purpose of this article is to investigate the socio-economic as well as the political, institutional, and ideological causes of the Chinese famine of 1959–1961. The main hypothesis of this paper is that the radical policies implemented as part of the Great Leap Forward resulted in...

County level data for the period 1999-2007 are used to assess the effects of NCLB on student performance in Alabama’s rural schools. Results suggest revisions to the state’s accountability system associated with the Act had a positive effect on 8th grade test scores for language, and for...

In this paper, we investigate empirically the effect of Information and Communication Technologies (ICT) and monetary shocks as sources of business cycle in the economy of Iran. We follow of Gali's (1999) who proposes identifying technology shocks by a bivariate structural vector auto regression...

Political economy literature acknowledges the importance of democratic learning and of fiscal rules in preventing politically driven deficits. This paper investigates the role of these factors for the Political Budget Cycles in the ten Central and East European (CEE) countries from 1990 to 2010....