Does a country's level of inequality affect its ability to win Olympic medals? If it does, is it conditional on institutional factors? We argue that the ability of economically free societies to win medals will not be affected by inequality. In these societies, institutions generate incentives...

The paper explores the empirical macro- and microeconomic aspects of debt deflation. After performing VAR and Granger causality analysis on the quarterly 1980-2011 filtered macroeconomic data for the USA, we find evidence for the endogenous money supply theory. Highlighting the empirical...

The goal of this paper is to apply the theory of the political Kuznets curve to Russia and reveal the key determinants of the probability of recent protests during 2011-2012 in the Russian regions. We apply the political Kuznets curve in the time and spatial dimensions, and find mixed evidence:...

In this paper, we consider whether or not inequality forces society to expend more resources on supervision which imposes an extra cost to doing business. Some argue that since inequality deteriorates social capital, there is a greater need for supervisory labor which is a costly burden to bear....

This paper empirically investigates and theoretically reflects on the generality of the "stylized facts" discussed in business cycle analysis. Using OECD data for 1960 - 2010, the duration of business cycles as well as three models capturing core macroeconomic relations are estimated: based on...

We test the history-augmented Solow model with respect to its predictions on the patterns of divergence and convergence between the nowadays industrialized countries of the OECD. We show that the dispersion of incomes increased after the Industrial Revolution, peaked during the Second World War,...

Education, general health, and reproductive health are key indicators of human development. Investments in these domains can also promote economic growth. This paper argues for the importance of human development related investments based on i) a theoretical economic growth model with poverty...

The relationship between female empowerment and economic development is one of the most complex examples of reverse causality, yet multiple scholars acknowledge that female empowerment promotes economic progress. One of the crucial aspects of female empowerment is female entrepreneurship;...

Education, general health, and reproductive health are key indicators of human development. Investments in these domains can also promote economic growth. This paper argues for the importance of human development related investments based on i) a theoretical economic growth model with poverty...