Abstract: While conventional wisdom views divisiveness as an obstacle to engagement among individuals belonging to different ideological camps, this article examines a mechanism that relies on such differences. In a moral trade, individuals with different beliefs exchange commitments on actions pertaining to those beliefs, in a way that is mutually beneficial. If structured correctly, Democrats […]

Abstract: The energy transition has created a global rush for critical minerals that are indispensable for the manufacturing of "green" technology, such as electric vehicles, solar panels, and wind turbines. Critical minerals are predominantly mined, however, on land that is proximate to vulnerable communities, and in developing countries. The environmental toll imposed by mining thus […]

Abstract: Sovereign default and restructurings should, in theory, lead to creditor punishment through higher borrowing costs or capital market exclusion. However, empirical evidence shows that punishment is inconsistent and not uniform across defaulters. We argue that this disconnect can be explained by examining the role of geopolitical relationships, particularly with the United States, in shaping […]