There is a great deal of concern at the moment about the consequences of rising levels of inequality in North America and Western Europe. Will this lead to an oligarchisation of the political system, and imperil political and social stability? Many find such dynamics puzzling given that it is happening in democratic countries.
Can democracy help with inequality?
Daron Acemoglu, Suresh Naidu, Pascual Restrepo, James A Robinson, 7 February 2014
The value of democracy in the world’s poorest region: Evidence from Kenya’s road building
Ameet Morjaria, 5 February 2014
An enormous literature points to a diverse set of factors behind Africa’s growth tragedy, ranging from bad policies, poor education, and poor infrastructure, to aging leaders, the historic slave trade, and political instability.
Mark Harrison, 15 January 2014
From public finance to climate change, democracy looks to be in trouble. In many Western countries, political decisions are gridlocked while economic, social, and environmental imbalances accumulate. Our leaders juggle public opinion, private lobbies, and expert advice while trying to live within past promises and present legal obligations.
Catenarian fiscal discipline
Hans Gersbach, 4 January 2014
Limiting the accumulation of public debt in democracies has always been a problem, but it has become a particularly pressing one in the last few decades.
The new sustainability factor of the public pension system in Spain
Rafael Doménech, Víctor Pérez-Díaz, 11 December 2013
As in many other European countries, long-term trends in population growth and life expectancy in Spain make the current pay-as-you-go pension system unsustainable. A later baby boom and a recent immigration wave help explain why Spain has postponed the implementation of reforms already introduced in other European countries in the 1990s (see, for example, Chapter 1 of OECD 2012).
Democracy in Africa
Thorvaldur Gylfason, 17 November 2013
A man’s admiration for absolute government is proportionate to the contempt he feels for those around him.
― Alexis de Tocqueville
Until the second half of the 19th century, there were so few democratic states around the world that they could be counted on the fingers of one hand.
Growth and political change: Transition duration is critical
Caroline Freund, Melise Jaud, 24 January 2013
The Arab world is undergoing a major political transition. The final outcomes of the changes are far from certain in nations where they have occurred. The geographical spread of the changes is also far from clear at this point. Nevertheless, there have been and will continue to be economic consequences from the moves towards democracy (see Besley and Kudamatsu 2007).
What explains political institutions? Evidence from colonial British America
Elena Nikolova, 17 August 2012
Under what circumstances do democratic as opposed to authoritarian institutions emerge? Although a large literature has tackled this question (see Acemoglu et al. 2001, Acemoglu and Robinson 2012, Engerman and Sokoloff 2000), we still have an imperfect knowledge of how representative institutions originate and change.
What determines democracy? And what helps to maintain it?
Martin Gassebner, Michael J Lamla, James Raymond Vreeland, 11 August 2012
Democracy is on the move in the Arab world. Whether democratic regimes will emerge and survive remains an open question, and the intense media coverage of the Arab Spring has revived public interest in the determinants of democracy. The quest to understand why democracy emerges and survives, however, has long been on the agenda of economists and political scientists.
Failure and success of economic sanctions
Peter A.G. van Bergeijk, 27 March 2012
The discussion about the effectiveness of economic sanctions as an instrument of foreign policy recently revived due to the recent oil embargo of Iran and the European embargo on equipment for the Syrian oil and gas industry. The consensus view seems to be that economic sanctions – despite the long history of and experience with this instrument – are still completely ineffective.
- 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
DellaVigna, Durante, Knight, La Ferrara
Ostry, Berg, Tsangarides
Allen, Eichengreen, Evans
Greenwood, Guner, Kocharakov, Santos
CEPR Policy Research
- The buyer margins of firms' exportsCarballo, Ottaviano, Volpe
- Commodity and Equity Markets: Some Stylized Facts from a Copula ApproachDelatte, Lopez
- Ethnic Unemployment Rates and Frictional MarketsGobillon, Rupert, Wasmer
- Finance and Poverty: Evidence from IndiaAyyagari, Beck, Hoseini
- The Manipulation of Basel Risk-WeightsMariathasan, Merrouche
- Making city lights shine brighterYusuf, Leipziger
- The euro in the 'currency war'Bénassy-Quéré, Martin
- The roots of shadow bankingPerotti
- What’s wrong with Europe?Baldini, Manasse
- How the EZ crisis is permanently changing EU institutionsMicossi
- 21st Century Challenges: The Mobile Middle Class13 - 13 March 2014 / Royal Geographical Society, 1 Kensington Gore, SW7 London / Royal Geographical Society (with IBG)
- The 13th Annual GEP Postgraduate Conference 20141 - 2 May 2014 / Nottingham / Sponsored by Nottingham Centre for Research on Globalisation and Economic Policy (GEP) University of Nottingham, United Kingdom
- Exchange Rates and External Adjustment2 - 3 June 2014 / Zurich / Swiss National Bank
- 13th Summer School in International Development Economics: Investment, Saving and Wellbeing in Developing Countries10 - 13 June 2014 / Palazzo Feltrinelli, Gargnano, Lake Garda (Italy) / Organisers: Centro Studi Luca d’Agliano, Centre for Economic Policy Research (CEPR), Paolo Baffi Center on International Markets, Money and Regulation, Department of Economics, Management and Quantitative Methods of the University of Milan, Department of Economics, Quantitative Methods and Business Strategies of the University of Milan Bicocca, Vilfredo Pareto Doctoral Program in Economics of the University of Turin, The Lombardy Advanced School of Economic Research (LASER).
- 3rd WB-BE Research Conference: Financing growth: Levers, Boosters and Brakes23 - 24 June 2014 / Banco de España headquarters in Madrid / This conference is sponsored by Banco de España and The World Bank