This paper develops a simple dynamic model to examine the breakout from a Malthusian economy to a modern growth regime. It identifies several factors that determine the fastest rate at which the population can grow without engendering declining living standards; this is termed maximum...

This paper develops a simple dynamic model to examine the breakout from a Malthusian economy to a modern growth regime. It identifies several factors that determine the fastest rate at which the population can grow without engendering declining living standards; this is termed maximum...

We employ a model of leverage-induced explosive behavior in financial markets to develop a measure of financial market instability. Specifically, we derive a quantitative condition for how large levered investors can become relative to the whole market before the demand curve for securities...

We employ a model of leverage-induced explosive behavior in financial markets to develop a measure of financial market instability. Specifically, we derive a quantitative condition for how large levered investors can become relative to the whole market before the demand curve for securities...

This paper examines whether large-scale asset purchases (LSAPs) by the Federal Reserve influenced capital flows out of the United States and into emerging market economies (EMEs) and also analyzes the degree of pass-through from long-term U.S. government bond yields to long-term EME bond yields....

We investigate the determinants of decision rights transfer and its effects on the motivation of an agent. The study is based on a laboratory experiment conducted on 130 subjects playing an innovative principal–agent game. Interestingly, the results show that agents do not favour a delegation...

The relationship between conflict and individual life-cycle artistic output is ambiguous, both a priori and in terms of the evidence. To address this question in relation to composers, we employ a sample of 115 prominent classical composers born after 1800 and attempt to link their annual...

Dancing may be one of the most competitive professions available career-wise. The lack of job opportunities and the competitiveness, the inherent expense in costumes and training and the high risk of injuries mean that only few dancers are able to make it their profession. However, dancing is an...

This study investigates agglomeration effects for classical music production in a wide range of cities for a global sample of composers born between 1750 and 1899. Theory suggests a trade-off between agglomeration economies (peer effects) and diseconomies (peer crowding). I test this hypothesis...