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Educate or adjudicate? Socioeconomic heterogeneity and welfare
I present a formal framework to explore the welfare and distributional effects of a government’s optimal choice over two types of public spending in a closed economy: domestic security (DS) and investment in social capital ...
The nexus of economic and institutional evolution
The current state of the development economics literature ascribes an indisputable central role to institutions. This paper presents a formal model of institutional evolution that is based on the dynamic interactions between ...