"How inflation fears shaped American society, then and now. For most of its history, the United States has benefited from price stability-a steady relationship between supply and demand, characterized by prices that don't inflate or deflate in unpredictable fashion. Across these long stretches,...

What causes democratic waves? This article puts forward a theory of institutional waves that focuses on the effects of systemic transformations. It argues that abrupt shifts in the distribution of power among leading states create unique and powerful incentives for sweeping domestic reforms. A...

We present new and rigorous mechanisms - a major weakness of the extant literature till date - to study spatiotemporal dynamic spillover effects of democratic shocks on cross-country economic growth in general and in Arab Spring, in particular. As a centrality of our research, we investigate how...