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AbstractThis paper uses unique household survey data to investigate the expected effects of a switch from a fixed exchange rate regime to a floating exchange rate regime in Bulgaria during the global financial crisis. The data show that the public associated such a switch with a contraction of output, higher prices, a decline in exports, and an overall deterioration of economic welfare. These expectations fuelled a strong opposition to removing the fixed exchange rate. Thus, the survey data allow us to investigate why a switch from a fixed exchange rate to a floating exchange rate did not take place.

Bulgaria has operated a currency board since 1997. It is expected to join the European Union in 2007 and the European Monetary Union (EMU) thereafter. This paper analyses public attitudes toward adoption of the euro in advance of EMU membership and offers unique evidence on the political economy of a move from a currency peg to euroisation The support for early euroisation reflects concerns about currency devaluation and the perception that the euro is already widely used in the economy. The opposition derives primarily from attachment to the national currency. (Comparative Economic Studies / SWP)

The topics of corruption and tax evasion have attracted significant attention in the literature in recent years. We build on that literature by investigating empirically: (1) whether attitudes toward corruption and tax evasion vary systematically with gender and (2) whether gender differences decline as men and women face similar opportunities for illicit behavior. We use data on eight Western European countries from the World Values Survey and the European Values Survey. The results reveal significantly greater aversion to corruption and tax evasion among women. This holds across countries and time, and across numerous empirical specifications.(JELH260, D730, J160, Z130)

The world price of oil is in constant flux, but countries respond to this reality in very different ways. Some heavily regulate the degree to which world prices "pass-through" to the price of gasoline at the pump, while others let domestic gasoline prices track world markets. We develop a novel, weekly dataset–to our knowledge the most comprehensive in existence–to explore the political economy of pass-through policies in over 100 countries. We find that autocracies are more likely than democracies to limit pass-through, especially those that are weakly institutionalized, ineffective providers of public services, and neo-patrimonial. Our project sheds light on the domestic policy choices that affect climate change and has significant implications for understanding price regulation more broadly.

We show that political economy factors play an important role in shaping the exchange rate policies of transition economies. We argue that tradables producers prefer a floating rate to allow active exchange rate policy to affect their competitiveness, while internationally exposed sectors prefer a fixed rate to provide currency stability. We find support for that argument using data on de facto and de jure exchange rate behavior for 21 countries during the period from 1992 to 2004. Our empirical results serve as the basis for predictions regarding the adoption of the euro in the EU accession countries and other countries in Central and Eastern Europe. Electronic supplementary material The online version of this article (doi:10.1007/s11558-009-9072-7) contains supplementary material, which is available to authorized users. Adapted from the source document.