Tag Archives: shock

Terrorism, hurricanes, economic crises: Learning through exogenous shocks

Economists seem to have a conspicuous interest in unexpected, far-reaching or even catastrophic events. In most cases, though, this interest does not reflect a tendency for cruel fascination and sensationalism, but stems from the academic desire to uncover meaningful causal … Continue reading

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Stealing to survive: Crime rates rise in response to poor harvest

Between 1863 and 1890, phylloxera (an insect which attacks grapevine roots) destroyed about 40% of the French vineyards. The crisis could only be stopped when vineyards were replanted with hybrid American vines which were resistant to the insect. This poor … Continue reading

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