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Googling ‘inflation’: Household inflation attention across the euro area 谷歌“通胀”：整个欧元区的家庭通胀关注
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-06-13 DOI: 10.1016/j.ejpoleco.2025.102702
Christian Buelens
{"title":"Googling ‘inflation’: Household inflation attention across the euro area","authors":"Christian Buelens","doi":"10.1016/j.ejpoleco.2025.102702","DOIUrl":"10.1016/j.ejpoleco.2025.102702","url":null,"abstract":"<div><div>This paper investigates the dynamics of household inflation attention in the euro area, using internet searches as a direct measure of inflation attention. It identifies different inflation attention-regimes dependent on the inflation context, aligning with the theory of rational inattention. Additionally, the paper finds that changes in monetary policy raise inflation attention in some euro area countries, indicating that households perceive a connection between monetary policy decisions and inflation. The analysis further reveals significant heterogeneity in inflation attention patterns across euro area countries, evident in three dimensions: (i) varying levels of structural inflation attention, seemingly linked to national inflation aversion; (ii) varying sensitivities of inflation attention to changes in inflation and inflation volatility, and differing thresholds at which the sensitivity of attention to inflation increases; (iii) asymmetric responses of national inflation attention to monetary policy announcements. Finally, the paper provides evidence of a structural increase in inflation attention after the post-pandemic inflation surge, along with a general decrease in attention thresholds. A better understanding of the factors driving inflation attention and its cross-country variation can help policymakers in a monetary union to enhance and better target their communication on inflation.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"89 ","pages":"Article 102702"},"PeriodicalIF":2.3,"publicationDate":"2025-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144280217","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
In the grip of Whitehall? The effects of party control on local fiscal policy in England 在白厅的控制下？政党控制对英格兰地方财政政策的影响
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-06-11 DOI: 10.1016/j.ejpoleco.2025.102697
Benjamin Lockwood , Francesco Porcelli , James Rockey
{"title":"In the grip of Whitehall? The effects of party control on local fiscal policy in England","authors":"Benjamin Lockwood ,&nbsp;Francesco Porcelli ,&nbsp;James Rockey","doi":"10.1016/j.ejpoleco.2025.102697","DOIUrl":"10.1016/j.ejpoleco.2025.102697","url":null,"abstract":"<div><div>This paper uses an instrumental variable approach based on close elections to evaluate the effects of political parties on local fiscal policy in England from 1998 to 2015. Our main finding is that when we condition on the central government grant, political control of the council by Labour or Conservative parties has no effect on total service expenditure, the composition of that expenditure, and the property tax rate (council tax per band D property). We find the same null results for capital expenditure, debt, and authorized debt limits. Using data on the distribution of income within local authorities, we find no evidence that this null result is being driven by homogeneous electorates rather than fiscal constraints. Thus, our results confirm the widely expressed belief that centrally imposed constraints on local government fiscal policy (rate-capping, and more recently, compulsory referenda, and the Prudential Code for borrowing) hold local government fiscal policy in a tight grip.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"89 ","pages":"Article 102697"},"PeriodicalIF":2.3,"publicationDate":"2025-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144470145","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Can the middle class benefit from more conservative redistribution? 中产阶级能从更保守的再分配中受益吗？
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-06-06 DOI: 10.1016/j.ejpoleco.2025.102700
Darong Dai
{"title":"Can the middle class benefit from more conservative redistribution?","authors":"Darong Dai","doi":"10.1016/j.ejpoleco.2025.102700","DOIUrl":"10.1016/j.ejpoleco.2025.102700","url":null,"abstract":"<div><div>There is considerable evidence indicating that high-income earners are increasingly able to avoid or evade taxes, while the working poor at the bottom have a growing justification for demanding greater redistribution. We examine how enhanced external opportunities for top talent and rising redistributive motives from the bottom impact the benefits available to the middle class. The government maximizes a weighted social welfare function, with an exogenous welfare weight assigned to the lowest skill type. This objective is subject to the conventional government budget constraint, truth-telling constraints, and the participation constraint for the highest skill type (“top talent”). We conduct a comparative static analysis of the optimal income allocations in relation to the welfare weight of the lowest incomes and the reservation utility of top talent. We find that, all else being equal, the optimal income received by the middle class decreases as the welfare weight parameter increases, while it rises with the reservation utility of top talent.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"89 ","pages":"Article 102700"},"PeriodicalIF":2.3,"publicationDate":"2025-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144239483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Recovering history: Using the Nobel lectures to identify hidden women in economic thought 恢复历史：利用诺贝尔奖讲座找出隐藏在经济思想中的女性
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-06-03 DOI: 10.1016/j.ejpoleco.2025.102703
Darwyyn Deyo
{"title":"Recovering history: Using the Nobel lectures to identify hidden women in economic thought","authors":"Darwyyn Deyo","doi":"10.1016/j.ejpoleco.2025.102703","DOIUrl":"10.1016/j.ejpoleco.2025.102703","url":null,"abstract":"<div><div>Women's historical contributions to the development of economic thought are often hidden or overlooked, demonstrating an example of the Matilda Effect. One way to identify more of these women is by identifying their work through the Sveriges Riksbank Prize in Economic Sciences prize lectures. In this study, I identify citations in the prize lectures from 1969 to 2009, the year when Elinor Ostrom won the prize. These lectures represent a novel data source to identify a substantial sample of women in the history of economic thought. I identified 125 women as authors in 165 citations and 29 women as editors in 34 citations. In total, 163 unique women are acknowledged in 198 unique citations. I provide a descriptive analysis of scholars and citations, including publication type, longevity, and field. I also classify types of contributions within the discipline, from authorship, editorship, and manuscript support. I find that the Nobel lectures provide an important resource for identifying more women who made significant contributions to the development of economic thought, and I provide a public database that supports research on a credit attribution gap in the literature.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"89 ","pages":"Article 102703"},"PeriodicalIF":2.3,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144322620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Inequality, conspiracy theories, and redistribution 不平等、阴谋论和再分配
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-06-03 DOI: 10.1016/j.ejpoleco.2025.102698
Daiki Kishishita
{"title":"Inequality, conspiracy theories, and redistribution","authors":"Daiki Kishishita","doi":"10.1016/j.ejpoleco.2025.102698","DOIUrl":"10.1016/j.ejpoleco.2025.102698","url":null,"abstract":"<div><div>Despite a rapid increase in inequality, redistribution does not necessarily expand. I address this paradox by emphasizing a novel effect of inequality on the acceptance of conspiracy theories. For this purpose, I develop an electoral competition model in which voters are divided into rich and poor. Each voter weighs the desire to maintain their self-image against the need for accurate beliefs, leading to varied endorsements of conspiracy theories. In the model, greater inequality leads the poor to believe more strongly in conspiracy theories. As a result, poor voters can seek more reforms to defeat conspiracies and lower income taxation. I show that greater inequality paradoxically reduces income taxation when the initial inequality is high and the distortion of taxation is large. In the shadow of prevalent conspiracy theories, democracy may fail to act as a protector against rising inequality.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"89 ","pages":"Article 102698"},"PeriodicalIF":2.3,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144212552","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Doom loop, trilemma, and moral hazard: Which narrative of the banking union did stock market investors buy? 厄运循环、三难困境和道德风险：股市投资者相信银行业联盟的哪一种说法？
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-06-01 DOI: 10.1016/j.ejpoleco.2025.102683
Tobias Körner , Michael Papageorgiou
{"title":"Doom loop, trilemma, and moral hazard: Which narrative of the banking union did stock market investors buy?","authors":"Tobias Körner ,&nbsp;Michael Papageorgiou","doi":"10.1016/j.ejpoleco.2025.102683","DOIUrl":"10.1016/j.ejpoleco.2025.102683","url":null,"abstract":"<div><div>We analyze the impact of the announcement of the banking union on stock market returns of euro area banks against the backdrop of three commonly held views of the banking union. We document positive individual abnormal returns for most banks. Abnormal returns are large and positive on average, and they vary substantially across banks. The more systemically important a bank is, the higher are the abnormal returns, both in ‘crisis countries’ and ‘non-crisis countries’. Moreover, abnormal returns of banks are positively related to sovereign risk, with Greek banks experiencing extremely high abnormal returns. By contrast, abnormal returns are not robustly related to bank risk. These findings reveal market expectations consistent with the view that the banking union makes banks less dependent on their home country’s sovereign strength and mitigates a financial trilemma. However, market participants do not seem to take the view that the banking union reduces a moral hazard problem that may emerge from a common lender of last resort and national responsibilities for banking supervision and resolution.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"88 ","pages":"Article 102683"},"PeriodicalIF":2.3,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144196165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
State building and social control 国家建设和社会控制
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-06-01 DOI: 10.1016/j.ejpoleco.2025.102699
Alberto Chong , Mark Gradstein
{"title":"State building and social control","authors":"Alberto Chong ,&nbsp;Mark Gradstein","doi":"10.1016/j.ejpoleco.2025.102699","DOIUrl":"10.1016/j.ejpoleco.2025.102699","url":null,"abstract":"<div><div>A modicum of homogeneity of social norms is deemed valuable by societies, and social control is a way to achieve it. In this paper, we posit an economy populated by masses and elites, whereby the social norms of the former affect the welfare of the latter group. Consequently, the elites may exercise social control to induce the masses to embrace norms aligned with their own preferences. Our analysis reveals, in particular, that social control may go hand in hand with the prevalence of mass education, which induces homogeneity of norms. This is shown to be consistent with historical evidence on the emergence of public schooling.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"88 ","pages":"Article 102699"},"PeriodicalIF":2.3,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144196166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Lady Justice: The impact of female judges on jury trial verdicts in North Carolina 女法官：北卡罗莱纳州女法官对陪审团审判判决的影响
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-06-01 DOI: 10.1016/j.ejpoleco.2025.102678
Alessandra Foresta
{"title":"Lady Justice: The impact of female judges on jury trial verdicts in North Carolina","authors":"Alessandra Foresta","doi":"10.1016/j.ejpoleco.2025.102678","DOIUrl":"10.1016/j.ejpoleco.2025.102678","url":null,"abstract":"<div><div>This study evaluates the impact of judges’ gender on jury trial outcomes in the U.S. state of North Carolina. The identification strategy is based on conditional random assignment of judges to cases. Specifically, I take advantage of the compulsory judges’ rotation imposed by the North Carolina Constitution. The results indicate that the presence of a female judge increases of 9.64–13.50 percentage points the probability of having at least one guilty verdict from the jury and of 9.5%–13.45% increase in the proportion of guilty verdicts expressed by the jury. Additionally, I perform a series of robustness and heterogeneity checks. I also investigate the potential mechanisms driving the results, exploring the influence of the jury selection process and women’s attitudes toward the courts and sentencing.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"88 ","pages":"Article 102678"},"PeriodicalIF":2.3,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144196164","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Conflict, information and regime-change 冲突、信息和政权更迭
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-05-28 DOI: 10.1016/j.ejpoleco.2025.102681
Davide Bosco , Luca Colombo , Gianluca Femminis
{"title":"Conflict, information and regime-change","authors":"Davide Bosco ,&nbsp;Luca Colombo ,&nbsp;Gianluca Femminis","doi":"10.1016/j.ejpoleco.2025.102681","DOIUrl":"10.1016/j.ejpoleco.2025.102681","url":null,"abstract":"<div><div>We study the choice between media freedom and censorship by an autocratic regime whose power can be challenged by citizens’ riots. To mitigate the risk of revolts, the regime can reduce citizens’ discontent, which is unknown to all, through public goods provision. To fine-tune such provision, the regime needs reliable information about discontent. However, public information has the unintended effect of helping citizens to coordinate towards rioting. We find that, <em>ex ante</em>, media freedom is preferred by strong and weak regimes, whereas censorship is preferred by regimes of intermediate strength. We also show that, absent policy-making, all regimes would prefer censorship, implying that media freedom is important for the fine-tuning of public goods provision, and hence for building popular consensus.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"89 ","pages":"Article 102681"},"PeriodicalIF":2.3,"publicationDate":"2025-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144205672","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Kin-based institutions and state capacity 以亲属为基础的制度和国家能力
IF 2.3 3区 经济学
European Journal of Political Economy Pub Date : 2025-05-22 DOI: 10.1016/j.ejpoleco.2025.102676
Roberto Ezcurra
{"title":"Kin-based institutions and state capacity","authors":"Roberto Ezcurra","doi":"10.1016/j.ejpoleco.2025.102676","DOIUrl":"10.1016/j.ejpoleco.2025.102676","url":null,"abstract":"<div><div>This paper examines the relationship between kin-based institutions and state capacity. The results show that the intensity of kinship networks is a strong predictor of present-day state capacity, both across and within countries. Societies historically characterized by more intensive kinship systems tend to have weaker states today. This finding holds after accounting for various variables that may be correlated with both kinship network intensity and state capacity, including a broad range of geographic, historical, and contemporary factors. The results are also robust when employing an instrumental variable approach that exploits plausibly exogenous variation in historical exposure to the marriage laws of the medieval Catholic Church. Additionally, the analysis reveals that societies with intensive kin-based institutions typically exhibit lower political centralization. Given the essential role of political centralization in establishing state capacity, this finding helps explain the negative association between kinship intensity and state capacity.</div></div>","PeriodicalId":51439,"journal":{"name":"European Journal of Political Economy","volume":"88 ","pages":"Article 102676"},"PeriodicalIF":2.3,"publicationDate":"2025-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144105203","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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