This article investigates and compares the root causes of transnational terrorism and piracy. In order to accomplish this, we construct a novel data set that catalogues terrorist activity and piracy over the years 1992–2008, paying particular attention to the Arabian Sea and Indian Ocean since...

We consider a setup in which infinitely lived households face idiosyncratic investment risk and show that in this case the equilibrium distribution of wealth becomes increasingly right-skewed over time until wealth concentrates entirely at the top. The households in our setup are identical in...