Economists explaining location choices of foreign affiliates usually focus on country-level determinants. Costs of production, the size of expected demand, proxies for agglomeration effects, and various policy-related incentives form the usual set of covariates. Two dimensions of those choices...

Identifying banking crises is the first step in the research on determinants of banking crises. The prevailing practice is to employ market events to identify a banking crisis. Researchers justify the usage of this method on the grounds that either direct and reliable indicators of banks’...

This paper analyzes factors that affect candidates’ position-taking incentives in multi-candidate and multi-party elections. Following Cox (1990), we define centrifugal incentives as those that motivate vote-seeking candidates to take more extreme positions relative to the center of the...