This paper studies the causal effect of giving first birth and how that effect changes by the 2007 reform in parental benefits in Germany. We further investigate how the reform affects the selection of women into motherhood and how that selection effect affects labor market outcomes. A large...

Universities are institutions whose activities have important economic and social impacts on their nearest surroundings. Most studies of the economic impact of universities analyze exclusively the impacts on the demand side, the effects on output, income and employment deriving from the...

We investigate how protectionist policies influence short-run economic growth. Our empirical strategy exploits an extraordinary tax scandal that gave rise to an unexpected change of government in Sweden. A free-trade majority in parliament was overturned by a protectionist majority in 1887. We...

There is a general acceptance of the fact that a significant direct relationship between financial markets and macroeconomic variables exists, especially by considering the assertion that developed financial markets correspond to high GDP levels. This paper provides an investigation of the...