This paper empirically studies the impact of the quality of political institutions on the link between central bank independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible nonlinearities, we employ interaction models to...

This paper empirically studies the impact of the quality of political institutions on the link between central bank independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible nonlinearities, we employ interaction models to...

Rational partisan theory of political business cycles suggests differences in inflation under left-wing and right-wing governments. It also suggests temporary post-electoral booms after election of left-wing governments and temporary recessions after election of right-wing ones. However, the...

Slow onset climate change has the potential to cause significant migration flows. Scientists have recently made considerable efforts to quantify these flows based on empirical methods. However, the literature on international migration has failed to come to a clear conclusion as many studies...

In this paper we study the effect of institutional reform on the decision to hold risky assets at the extensive and the intensive margin. We therefore make use of the natural experiment of German Division and Reunification and, based on savings bank customer data from German savings banks, study...

In this paper we show that findings of an apparently instable popularity function of U.S. presidents, as reported in the previous literature, are likely the consequence of the common use of linear estimation techniques. Employing Penalized Spline Smoothing in the context of Additive Mixed Models...