Using panel data for 68 countries over the period 1975-2002 this paper examines how IMF programs, disbursed loans, and compliance with conditionality affect the risk of currency crises and the outcome of such crises. Specifically, we investigate whether countries with previous IMF intervention...

Using panel data for 68 countries over the period 1975-2002 this paper examines how IMF programs, disbursed loans, and compliance with conditionality affect the risk of currency crises and the outcome of such crises. Specifically, we investigate whether countries with previous IMF intervention...

The Eurozone crisis constitutes a grave challenge to European integration. This essay presents an overview of the causes of the crisis, and analyzes why has it been so difficult to resolve. It focuses on how responses to the crisis were shaped by distributive conflicts both among and within...

Does globalization affect the demand-side of politics, and if so, how? This paper builds on new developments in trade theory to argue that globalization matters, but that its effects on individuals' perceptions of labor market risk and policy preferences are more heterogenous than previous...

When countries face balance-of-payments crises, their policy responses vary widely. This paper argues that the choice between the two main options of internal adjustment (i.e. austerity and structural reforms) and external adjustment (i.e. exchange-rate devaluation) depends on how costly each of...