The standard efficiency argument in favour of democracy is based on the idea that free elections are an effective instrument for ousting inept and corrupt politicians (e.g. Sen 2000). This view, however, is based on the assumptions that voters are capable of monitoring and evaluating government actions.
Democracy, quality of government, and the average voter
Piergiuseppe Fortunato, Ugo Panizza, 4 June 2011
“The people want the fall of the regime”: Schooling, political protest, and the economy
Davin Chor, Filipe R Campante, 25 April 2011
The wave of political protest that has shaken the Middle East since late 2010 has been a textbook example of a “prairie fire” revolution (Kuran 1989). The tragic act of protest of a Tunisian street vendor set off a contagious streak of demonstrations that has so far claimed two seemingly unshakeable incumbents in Tunisia and Egypt and still threatens a number of fellow strongmen.
Are friends important in educational outcomes?
Eleonora Patacchini, Yves Zenou, 25 February 2011
Each student influences his or her classmates – not only through knowledge spillovers and how teachers respond to him/her, but also in how he/she affects classroom standards. A less disciplined student is more likely to disrupt his/her classmates, forcing the teacher to devote more time in class to disciplining rather than transmitting knowledge.
Investment in financial literacy and saving decisions
Tullio Jappelli, Mario Padula, 8 February 2011
The demographic transition is increasingly shifting the responsibility of saving decisions from the welfare system to individuals. The switch from defined benefits to defined contributions pension systems is making individuals more liable for their long-term saving choices. In addition, the recent financial crisis has questioned people’s ability to manage their debts.
The virtuous equity-efficiency trade-off in educational outcomes
Richard B. Freeman, Stephen Machin, Martina Viarengo , 4 January 2011
How countries fare in international tests of student achievement is a magnet for media attention the world over.
The impact of university research on corporate patenting
Christian Helmers, Mark Rogers, 21 December 2010
University research is a catalyst for business sector innovations, according to several empirical studies (see for example, Agrawal 2001).
Are skill-intensive imports from rich nations deskilling emerging economies?
Raphael Auer, 10 December 2010
Among economists and policymakers alike, there is now a sense of agreement that import competition from low-wage countries has caused a decline in the relative wage of unskilled workers in rich nations, probably best summarised by Krugman’s verdict that the impact of trade on wages “is big, and getting bigger” (see
The historical roots of inequality
Graziella Bertocchi, Arcangelo Dimico, 14 November 2010
In March 2010 President Obama presented the US Congress a plan to reform No Child Left Behind (NCLB), America’s main federal education programme. NCLB was enacted in 2002 under President Bush with the full bipartisan support of Congress. Yet one of the criticisms to NCLB stresses its failure to reduce the deeply rooted racial and ethnic gaps that still afflict the US education system.
Childcare subsidies and child wellbeing
Chris Herbst, Erdal Tekin, 9 October 2010
Childcare subsidies are increasingly used by state and local governments to facilitate employment and reduce welfare use among economically disadvantaged families in the US. Most public expenditures on child care assistance in the US are funnelled through the federal Child Care and Development Fund (created as part of the 1996 welfare reform).
Producing superstars for the economic Mundial: The team in the tail
Lant Pritchett, Martina Viarengo , 20 August 2010
In the World Cup (or Mundial in Spanish), the tails matter. Each nation’s destiny depends on the players on the pitch. The question is not which nation has the highest average quality of football players among its population nor which nation has the best single player but which country can assemble a team of 11 at their various positions, who can beat all comers.
- Internationalisation, innovation, and productivity of firmsAltomonte, Aquilante, Békés, Ottaviano
- Predicting economic turning pointsAhir, Loungani
- How rich nations benefit from EU membershipCampos, Coricelli, Moretti
- The ECB should do QE via forex interventionFrankel
- The chartbook of economic inequalityAtkinson, Morelli
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Claessens, 18 April 2014
Campos, Coricelli, Moretti
Ostry, Berg, Tsangarides