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Turkey's experience with disinflation: where did all the welfare gains go?
This article measures the welfare gains from disinflation in Turkey during the 2000s. Estimated welfare gains exceed the real output gains, which is likely to arise from persisting allocative inefficiencies, pointing at ...
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 ...