Paragraphs

Image
The Review of Corporate Finance Studies
The 2020 COVID-19 crisis can spur research on firms’ corporate finance decisions and their macroeconomic implications, similar to the wave of important research on banking and household finance triggered by the 2008 financial crisis. What are the relevant corporate finance mechanisms in this crisis? Modeling dynamics and timing considerations are likely important, as is integrating corporate financing considerations into modern quantifiable macroeconomics models. Recent empirical work, including articles in this special issue, on the drag from debt in the COVID-19 crisis provides a first glimpse into the new research agenda.

All Publications button
1
Publication Type
Journal Articles
Publication Date
Journal Publisher
The Review of Corporate Finance Studies
Authors
Arvind Krishnamurthy
Paragraphs

Image
Statistics and Public Policy
Relative to its overall statewide support, the Republican Party has been over-represented in congressional delegations and state legislatures over the last decade in a number of US states. A challenge is to determine the extent to which this can be explained by intentional gerrymandering as opposed to an underlying inefficient distribution of Democrats in cities. We explain the “spatial inefficiency” of support for Democrats, and demonstrate that it varies substantially both across states and also across legislative chambers within states. We introduce a simple method for measuring this inefficiency by assessing the partisanship of the nearest neighbors of each voter in each US state. Our measure of spatial efficiency helps explain cross-state patterns in legislative representation, and allows us to verify that political geography contributes substantially to inequalities in political representation. At the same time, however, we also show that even after controlling for spatial efficiency, partisan control of the redistricting process has had a substantial impact on the parties’ seat shares. Supplementary materials for this article are available online.

All Publications button
1
Publication Type
Journal Articles
Publication Date
Journal Publisher
Statistics and Public Policy
Authors
Jonathan Rodden
Paragraphs

Image
European Journal of Economics and Economic Policies
This paper studies the effects of fiscal rules on public investment. Economists argue that fiscal rules decrease public investment, as it is easier for governments to lower public investment than current expenditures. This paper presents an empirical assessment of the relationship between fiscal rules and public investment using European panel data covering the 1997–2016 period. In contrast to previous work, we focus on national fiscal rules and use the European Commission's Fiscal Rules Strength Index to measure the constraints imposed on public finances. This index captures 230 national fiscal rules and reflects the annual strength of fiscal rules in each European Union member state. In line with our expectations, we find that fiscal rules decrease public investment. We run some additional models in which the results are mixed.

All Publications button
1
Publication Type
Journal Articles
Publication Date
Journal Publisher
European journal of economics and economic policies intervention
Authors
Christophe Crombez
Paragraphs

Image
Medieval British Manuscripts
The scholarship and teaching of manuscript studies has been transformed by digitisation, rendering previously rarefied documents accessible for study on a vast scale. The Cambridge Companion to Medieval British Manuscripts orientates students in the complex, multidisciplinary study of medieval book production and contemporary display of manuscripts from c.600–1500. Accessible explanations draw on key case studies to illustrate the major methodologies and explain why skills in understanding early book production are so critical for reading, editing, and accessing a rich cultural heritage. Chapters by leading specialists in manuscript studies range from explaining how manuscripts were stored, to revealing the complex networks of readers and writers which can be understood through manuscripts, to an in depth discussion on the Wycliffite Bible.

All Publications button
1
Publication Type
Books
Publication Date
Authors
Book Publisher
Cambridge University Press
Paragraphs

We analyze unilateral, efficient and Nash trade policies in a symmetric, two-country version of the Melitz-Ottaviano (2008) model. Starting at global free trade, we show that a country gains from the introduction of (1) a small import tariff; (2) a small export subsidy, if trade costs are low and the dispersion of productivities is high; and (3) an appropriately combined small increase in its import and export tariffs. The welfare of its trading partner, however, falls in each of these three cases. The market may provide too little or too much entry, depending on a simple relationship among model parameters. Correspondingly, global free trade is generally not efficient, even within the class of symmetric trade policies. We also provide conditions under which, starting at the symmetric Nash equilibrium, countries can mutually gain by exchanging small reductions in import tariffs, export tariffs or combinations thereof. More generally, we show that Nash equilibria are inefficient while “politically optimal” policies are efficient, indicating a central role for the terms-of-trade externality. We also discuss why the model's implications for the treatment of export subsidies in trade agreements differ from those that obtain in a model with CES preferences for the differentiated-goods sector.

All Publications button
1
Publication Type
Journal Articles
Publication Date
Journal Publisher
Journal of International Economics
Authors
Kyle Bagwell
-

Image
Front cover of book titled "The New Party Challenge: Changing Cycles of Party Birth and Death in Central Europe and Beyond"

Why do some parties live fast and die young, but other endure? And why are some party systems more stable than others? Based on a blend of data derived from both qualitative and quantitative sources, in their recently released book Haughton and Deegan-Krause provide new tools for mapping and measuring party systems, and develop conceptual frameworks to analyse the dynamics of party politics, particularly the birth and death of parties. In addition to highlighting the importance of agency and choice in explaining the fate of parties, The New Party Challenge  underlines the salience of the clean versus corrupt dimension of politics, charts the flow of voters in the new party subsystem, and emphasizes the dimension of time and its role in shaping developments. Not only do the authors examine party politics in Central Europe in the three decades since the 1989 revolutions, charting and explaining the patterns of politics in that region, they also highlight that similar processes are at play on a far wider geographical canvas. Their talk will conclude by reflecting on what the dynamics of party politics, especially the emergence of so many new parties, means for the health and quality of democracy, and what could and should be done.

Image
Headshot of Tim Haughton, Sr. Assoc. Prof. of European Politics, Univ. of Birmingham

 

Tim Haughton is a Senior Associate Professor of European Politics at the University of Birmingham, where he served as Head of the Department of Political Science and International Studies (2016-18) and the Director of the Centre for Russian, European and Eurasian Studies (2012-14). Dr Haughton was educated at the London School of Economics and University College London. He has held Visiting Fellowships at Harvard University’s Center for European Studies, the Institute for Human Sciences in Vienna, the Institute of International Relations in Prague, Colorado College and was an Austrian Marshall Plan Foundation Fellow at Johns Hopkins University's School of Advanced International Studies. Dr Haughton has good links with the policymaking community, having briefed inter alia five British Ambassadors to Slovakia before they took up their posts, and given several presentations on Central European politics at the Foreign Office in London and at the State Department in Washington DC.

Tim’s research interests encompass electoral and party politics, electoral campaigning, the role of the past in the politics of the present, the domestic politics of Slovakia, Slovenia and the Czech Republic and Brexit. He is the co-author with Kevin Deegan-Krause of The New Party Challenge: Changing Cycles of Party Birth and Death in Central Europe and Beyond (Oxford University Press, 2020), the author of Constraints and Opportunities of Leadership in Post-Communist Europe (Ashgate 2005), the editor of Party Politics in Central and Eastern Europe: Does EU Membership Matter? (Routledge, 2011) and served as the co-editor with Nathaniel Copsey of the Journal of Common Market Studies’ Annual Review of the European Union for nine years (2008-16).

Image
Headshot of Kevin Deegan-Krause, Associate Professor of Political Science at Wayne State University.


Kevin Deegan-Krause is an Associate Professor of Political Science at Wayne State University. He received his undergraduate degree in Economics from Georgetown University in 1990 and his doctorate in Government from the University of Notre Dame in 2000. He has spent more than two decades studying how political parties compete against one another, and how that competition shapes what happens in a democracy.  He has published what he learned from research on European political parties in several books book (Elected Affinities: Democracy and Party Competition in Slovakia and the Czech Republic published by Stanford University Press in 2006 and The New Party Challenge: Changing Cycles of Party Birth and Death in Central Europe and Beyond, published by Oxford University Press in 2020) and many articles in political science journals and he has been the editor of several other books and the European Journal of Political Research Political Data Yearbook (politicaldatayearbook.com) which provides an annual summary of political developments in European, North American and Asian democracies. His ongoing research focuses on the emergence of new political parties and the transformation of existing ones.

Together with his wife Bridget and his children Elena and Peter, Kevin is also engaged in his local community of Ferndale, Michigan, and in broader public concerns.  He received a Truman Scholarship for public service in 1988, and his commitment to public service has included work with the U.S. Department of State and the Fulbright Commission, election observation with the Organization for Security and Cooperation in Europe, as well as service on Ferndale's elected Library Board and School Board.  He has also worked with many other local voluntary organizations and nonpartisan advocacy groups including promoting fair district boundaries with Voters Not Politicians and encouraging ranked-choice voting with RankMIVote.  His commitment to voter turnout and other forms of civic engagement is also part of his classroom teaching, including his introductory courses on the city of Detroit and engaged citizenship for students in Wayne State University's Honors College.

 

Co-sponsored by the Global Populisms Project

Online via Zoom: Register

Tim Haughton Senior Associate Professor of European Politics Speaker University of Birmingham, United Kingdom
Kevin Deegan-Krause Associate Professor of Political Science Speaker Wayne State University, Michigan
Paragraphs

For generations, British thinkers told the history of an empire whose story was still very much in the making. While they wrote of conquest, imperial rule in India, the Middle East, Africa, and the Caribbean was consolidated. While they described the development of imperial governance, rebellions were brutally crushed. As they reimagined empire during the two world wars, decolonization was compromised. Priya Satia shows how these historians not only interpreted the major political events of their time but also shaped the future that followed.

Satia makes clear that historical imagination played a significant role in the unfolding of empire. History emerged as a mode of ethics in the modern period, endowing historians from John Stuart Mill to Winston Churchill with outsized policymaking power. At key moments in Satia’s telling, we find Britons warding off guilty conscience by recourse to particular notions of history, especially those that spotlighted great men helpless before the will of Providence. Braided with this story is an account of alternative visions articulated by anticolonial thinkers such as William Blake, Mahatma Gandhi, and E. P. Thompson. By the mid-twentieth century, their approaches had reshaped the discipline of history and the ethics that came with it.

Time’s Monster demonstrates the dramatic consequences of writing history today as much as in the past. Against the backdrop of enduring global inequalities, debates about reparations, and the crisis in the humanities, Satia’s is an urgent moral voice.

All Publications button
1
Publication Type
Books
Publication Date
Journal Publisher
Harvard University Press
Authors
Priya Satia
-

 

Populist radical right parties are more successful in some areas than others. However, when trying to explain geographical patterns of support for the populist radical right, similar outcomes in otherwise different contexts and different outcomes in otherwise similar contexts can be observed. In this paper, we show that this paradox can be understood when we examine how citizens are affected differently by the context in which they live. Using a unique dataset containing geocoded survey data and contextual data from four countries (DE, FR, NL and UK), we demonstrate that mediating and moderating variables, such a perceptions of local decline and education level shape the relationship between contextual development such as the increasing presence of immigrants, on the one hand, and populist and nativism attitudes and PRR support, on the other hand.
 

A draft copy of this research paper may be downloaded by using the link provided below under "Event Materials".

Image
Sarah L. de Lange


Sarah L. de Lange is Professor by special appointment at the Department of Political Science at the University of Amsterdam, where she holds the Dr. J.M. Den Uyl chair. Her research interests include societal cleavages, political parties, and extremism, populism, and radicalism. Her recent research projects focus on the emergence of new political oppositions in Europe on that basis of, amongst others, geographical, generational, and educational divides. She has recently concluded the collaborative international project Sub-National Context and Radical Right Support in Europe (supported by an ORA grant) and is currently co-directing the research project Generational Differences in Determinants of Party Choice (supported by an NWO grant). Her co-edited volume Radical Right-Wing Populist Parties in Western Europe: Into the Mainstream?, which appeared with Routledge in 2016, analyses the extent to which radical right-wing populist parties have become part of mainstream politics, as well as the factors and conditions which facilitate this trend.

 

Co-Sponsored by the Global Populisms Project.

A Cross-National Investigation into Contextual Effects and Populist Radical Right Support. A mediated and moderated relationship?
Download pdf

Online via Zoom: REGISTER

Sarah L. de Lange University of Amsterdam
Seminars
-

 

This talk investigates how unemployment risk within households affects voting for the radical right. Recent advances in the literature demonstrate the role of latent economic threats for understanding the support of radical right parties. We build on these studies and analyze economic risks as a determinant of radical right voting. Crucially, we do not treat individuals as atomistic but investigate households as a crucial context moderating economic risks. Combining large-scale labor market data with comparative survey data, we confirm the relationship between economic risk and support for radical right parties but demonstrate that this direct effect is strongly conditioned by household risk constellations. Voting for the radical right is not only a function of a voters' own but also their partner's risk. We provide additional evidence on the extent to which these effects are gendered and on the mechanisms linking household risk and party choice. Our results imply that much of the existing literature on individual risk exposure underestimates the impact on political behavior due to the neglect of multiplier effects within households. 
 
 
Tarik Abou-Chadi

Tarik Abou-Chadi is Assistant Professor at the department of political science at the University of Zurich. His research focuses on electoral competition, political parties and democratic representation. He is currently the principal investigator of a research project on social status and the tranformation of electoral behavior in Europe. He also hosts the political science teaching and research podcast Transformation of European Politics.
 
 
 
Co-Sponsored by the Global Populisms Project.

Online via Zoom

Tarik Abou-Chadi University of Zurich
Seminars
-

In this live webinar, Torin Jones (Stanford) will speak with Camilla Hawthorne (UC Santa Cruz) and Angelica Pesarini (NYU Florence) about the Black Lives Matter movement in Italy, focusing on ethnographic methods and ongoing questions related to the histories of Italian colonialism, immigration, and the Black Mediterranean.

ADMISSION: FREE AND OPEN TO THE PUBLIC. RSVP: https://stanforduniversity.qualtrics.com/jfe/form/SV_9FYoKW3Iu8RGq4l


Co-sponsored by The Center for Global Ethnography, the Department of Anthropology, and The Europe Center.

Zoom Webinar

Camilla Hawthorne, UC Santa Cruz
Torin Jones, Stanford
Angelica Pesarini, NYU Florence
Workshops
Subscribe to Europe