Several countries have recently abolished or significantly reduced their taxes on bequests.Bequest taxes, on the other hand, were among the first to be introduced when modernsystems of taxation were developed at the end of the nineteenth century. We propose anexplanation for these facts which is...

We construct a simple political economy model with imperfect capital markets to explain infrastructure investements across Indian states. The model predicts that: i) the fixed cost of accessing the modern sector, ii) the initial stock of infrastructure, iii) median voter weath, and iv)...

This paper constructs a dynamic analysis of the growth and distribution models of Das and Ghate (2004) and Alesina and Rodrik (1994) when leisure is valued by agents. When leisure enters the utility function, we show that the tax rate on capital income chosen in a political equilibrium is lower...

This article aims to quantify the institutional similarities between industrial relations systems in 11 Central and Eastern European countries (CEE11), on the one hand and each of the four models of capitalism in Western Europe identified by Amable [2003], on the other hand. The comparative...

A growing literature examines institutional arrangements in Central and Eastern European (CEE) market economies. Some sources claim that there is a distinct model of capitalism in this region. This paper overviews and analyzes the results of these studies in connection with crucial...

The main aim of this paper was to shed a new empirical light on the nature and most salient features of the evolving postcommunist capitalism in 11 Central and Eastern European (CEE11) countries against the backdrop of Western European models of capitalism. The research approach capitalizes on...

The post-2008 slowdown in economic convergence by countries of east central Europe towards the level of western Europe is interpreted with the help of a concept of dependent capitalism. Convergence appeared to be rapid up to that year, but then stalled, albeit with differing results depending on...

We examine the relationship between oil price windfalls and labor market regulation empirically through panel regressions in a sample of 83 countries spanning 1970-2014. We find that oil price windfall gains lead to a deregulation of the labor market in autocracies but have no effects in...

The economic tradition of ordoliberalism , understood as the theoretical and policy ideas of the Freiburg School, emerged in 1930s and 1940s Germany. In the years thereafter, it was quickly superseded by Keynesianism and other theories imported from the English-speaking world. The crisis in...

This paper explores how historical gender roles become entrenched as norms over the long run. In the historical United States, gender roles on the frontier looked starkly different from those in settled areas. Male-biased sex ratios led to higher marriage rates for women and lower for men. Land...