We analyze the implications of labor market reforms for an open economy’s human capital investment and future production. A stylize d model shows that labor market deregulation can imply more positive current account balances if financial markets are imperfect and labor market institutions not...

We study the impact of exogenous variation in Italian municipal elections' voter turnout rates on city performance scores and elected mayors'indicators of valence. First, we build a simple model of voluntary and costly expressive voting, where the relative weight of ideology and valence issues...

This paper studies the effect of labor market institutions on within- and cross-country risk-sharing using a model of international trade in risky assets modified to include a subset of agents, labor-owners, who do not access financial markets, and employment security provisions. Labor market...