Heterogeneous countries may rationally choose to form a currency union first, and a fiscal union later. Taking into account the sovereignty loss involved in the formation of a fiscal union, we find reasonable conditions on the determinants of volatility for the currency and then fiscal...

We examine the relationship between extreme temperatures and violent mortality across Russian regions, with implications for the social costs of climate change. We assess the unequal impact of temperature shocks across gender and age groups by exploring a dataset on temperature and violence in...