Andrea Stella

TL;DR: In this article, the authors investigate a channel through which social (or civic) capital may improve economic wellbeing and the functioning of institutions: political accountability and find that voters who share values and beliefs that foster cooperation are more likely to base their vote on criteria of social welfare rather than narrow personal interest.

TL;DR: In this paper, the authors investigate a channel through which social capital may improve economic wellbeing and the functioning of institutions: political accountability and show that voters who share values and beliefs that foster cooperation are more likely to vote based on criteria of social welfare rather than narrow personal interest.

TL;DR: This article developed a parsimonious bivariate model of inflation and unemployment that allows for persistent variation in trend inflation and the NAIRU and showed that the implied backwards-looking Phillips curve has a time-varying slope that is steeper in the 1970s than in the 1990s.

TL;DR: In this paper, the authors empirically investigate a channel through which social capital may improve economic wellbeing and the functioning of institutions: political accountability, and they find that voters who share norms of generalized morality demand higher standards of behavior on their elected representavtives, are more willing to bear the cost of acquiring information, and are more likely to base their vote on criteria of social welfare rather than (narrow) personal interest.

TL;DR: In this article, the authors test the granular hypothesis that the largest firms in the economy drive aggregate dynamics by estimating a dynamic factor model with firm-level data and controlling for the propagation of firmlevel shocks using multi-firm growth model.