Over the past half century, the behavior of German voters has changed profoundly. After a long period of stability, elections have dramatically altered their character—at first rather gradually, but during the past decade at an accelerated speed. Voters' decision-making has become much more...

We evaluate the effect of perhaps the largest exogenous decline in a state's incarceration rate in U.S. history on local crime rates. We assess the effects of a recent reform in California that caused a sharp and permanent reduction in the state's incarceration rate. We exploit the large...

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper compares price inflation before the crisis with the...

The realignment was proposed to remedy the loss of relevance and presence of the Bank in Latin America and the Caribbean because it had been unable to adapt to: (i) greater access by the countries to alternative sources of financing, (ii) the appearance of new actors, such as subnational...