Good monetary policy requires estimates of all of its effects: monetary policy impacts traditional economic variables such as output, unemployment rates, and inflation. But does monetary policy influence crime rates? By extending the vector autoregression literature, we derive estimates of the...

Wine production is largely governed by atmospheric conditions, such as air temperature and precipitation, together with soil management and viticultural/enological practices. Therefore, anthropogenic climate change is likely to have important impacts on the winemaking sector worldwide. An...

Do American troops help or hinder economic growth in other countries? We consider a newly constructed dataset of the deployment of U.S. troops over the years 1950--2000 and discover a positive relationship between deployed troops and host country economic growth, which is robust to multiple...

This research simulates the impact of climate change on the distribution of the most important European wine regions using a comprehensive suite of spatially informative layers, including bioclimatic indices and water deficit, as predictor variables. More specifically, a machine learning...

From 1920 until nationalisation, privately owned gas companies in Britain were regulated under one of three systems: the Maximum Price, the Sliding Scale, or the Basic Price system. In effect, the industry was the subject of a remarkable experiment in regulation. Hitherto, there has been no...

Because the Federal Reserve is constantly responding to developments in the economy, it has been difficult to come up with convincing estimates of the effects of exogenous shifts in money supply on interest rates. This study uses exogenous, well-identified reserve supply shocks to estimate how...