This paper estimates the size of the media multiplier, a model-based measure of how far media coverage magnifies the economic response to shocks. We combine monthly aggregated and anonymized credit card activity data from 114 card issuing countries in 5 destination countries with a large corpus...

This paper exploits data on the pattern of violence across regions and over time to estimate the impact of the peace process in Northern Ireland on house prices. We begin with a linear model that estimates the average treatment effect of a conflict-related killing on house prices .showing a...

This article documents a strong connection between unemployment and mental disorders using data from the Spanish Health Survey. We exploit the collapse of the construction sector to identify the causal effect of job loss. Our results suggest that an increase of the unemployment rate by 10...

This article documents a strong connection between unemployment and mental disorders using data from the Spanish National Health Survey. We exploit the collapse of the construction sector to identify the causal effect of job loss. Our results suggest that an increase of the unemployment rate by...

Economic resources are often seen as decisive for the outcomes of military conflicts. This paper asks whether "deeper pockets" help win wars. We construct a fine-grained dataset covering more than 700 interstate disputes and rely on exogenous resource price shocks to estimate the causal effect...

Conflict undermines development, while poverty, in turn, breeds conflict. Policy interventions such as cash transfers could lower engagement in conflict by raising poor households' welfare and productivity. However, cash transfers may also trigger appropriation or looting of cash or assets. The...

We study market rents in the neighborhood of asylum seeker hosting centers. Our empirical setting exploits the quasi-random opening of centers and spatial allocation of asylum seekers in Switzerland. Rents within 0.7km of an active center are found on average to be 3.8% lower than rents in the...

Political violence is a worldwide problem that has been on the rise over the past decade. The international dimension of domestic repression and dissent is a particularly relevant factor yet surprisingly understudied. In particular, governments that heavily depend on foreign aid may crack down...

We construct a dynamic theory of civil conflict hinging on inter-ethnic trust and trade. The model economy is inhabitated by two ethnic groups. Inter-ethnic trade requires imperfectly observed bilateral investments and one group has to form beliefs on the average propensity to trade of the other...