Using an estimation method developed by Blanchard and Wolfers (2000) we study whether the size of a country's legislature impacts its fiscal response to common and country-specific shocks. The use of this method allows us to estimate the effects of legislature size while also controlling for...

Using a panel of U.S. states over the period 1985 - 2010, we examine how Democratic governors affect economic freedom compared to Republican governors. Economic freedom is measured using the Economic Freedom of North America Index (EFNA). Given the emphasis this index places on smaller...

Using announcement memos released by the National Bureau of Economic Research (NBER), we show that corporations increase liquidity during the quarter the NBER announces a peak in the business cycle. This reaction is primarily restricted to memos about peaks in the business cycle, whether it is a...