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...

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....

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...

Fossil-fuel-related carbon dioxide emissions have risen dramatically since 1800. We identify the long-run drivers of CO2 emissions for a sample of twelve developed economies using an extended Kaya decomposition. By considering biomass and carbon-free energy sources along with fossil fuels we are...

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...

Cultural tourism can play an important role in social and territorial cohesion. Focusing on European peripheral regions, this book illuminates the importance of local communities in heritage management for sustainable development. This book provides insights into the use of innovative business...

Ludwig van Beethoven, Johann Sebastian Bach, and Frédéric Chopin are household names, but few will recognize Francesca Caccini, Elisabeth Lutyens or Amy M. Beach, who are among the top-10 female composers of all time. Why are female composers overshadowed by their male counterparts? Using...

It is difficult to estimate the impact of geographic clustering on productivity because of endogeneity issues. I use birthplace-cluster distance as an instrumental variable for the incidence of clustering of prominent classical composers born between 1750 and 1899. I find that geographic...

Most creatives acquire professional talents by learning from others, but in most settings it is difficult to estimate the existence of long-term effects. This paper explores the transmission of skills over a period of more than seven centuries by focusing on the case of music composers. We ask...