The recent political economy literature suggests that migrants can affect the institutional evolution of their home countries through political remittances, that is, the transfer of political norms and attitudes (e.g., for democracy, corruption) via social networks from host to home countries....

The European asylum system is a relatively advanced regional protection framework, in both legislative and policy terms. However, that same system lacks a mechanism to distribute responsibility fairly among the Member States, as well as legal avenues by which persons in need of protection can...

The European asylum system is a relatively advanced regional protection framework, in both legislative and policy terms. However, that same system lacks a mechanism to distribute responsibility fairly among the Member States, as well as legal avenues by which persons in need of protection can...

In this study we examine the integration of immigrants born in selected non-EU countries (China, Ecuador, India, Iran, Morocco, Tunisia, Turkey, Russia, Ukraine) living in France, Germany, Italy, Spain, Sweden and the UK. The units of analysis are the so-called migrant corridors, i.e. a migrant...

In the abscence of a global agreement to reduce greenhouse gas emissions, individual countries have introduced national climate policies. Unilateral action involves the risk of relocating emissions to regions without climate regulations, i.e., emission leakage. A major channel for leakage are...

Carbon-based import tariffs are discussed as policy measures to reduce carbon leakage and increase the global cost-effectiveness of unilateral CO2 emission pricing. We assess how the potential of carbon tariffs to increase cost-effectiveness of unilateral climate policy depends on the magnitude...

All variations in price-dividend ratios result from either movements in expected returns or expected dividend growth rates. If growth rates contain a persistent component, even small changes in expected near-term dividends can cause large movements in prices. I derive closed-form solutions for...

Concerns about adverse impacts on domestic energy-intensive and trade-exposed (EITE) industries are at the fore of the political debate about unilateral climate policies. Tariffs on the carbon embodied in imported goods from countries without emission pricing appeal as a measure to reduce carbon...

Carbon-based import tariffs are discussed as policy measures to reduce carbon leakage and increase the global cost-effectiveness of unilateral CO2 emission pricing. We assess how the potential of carbon tariffs to increase cost-effectiveness of unilateral climate policy depends on the magnitude...

Under power utility, a high risk premium implies that the risk-free rate is volatile and that price-dividend ratios fall on good news about future economic growth rates. I show how a simple modification of standard power utility can solve these problems. In the model, individuals evaluate...