We revisit the resource curse theory by providing empirical evidence for effects of natural rents on subjective well-being. Using a cross-sectional model based global sample 149 countries, we highlight that tend to reduce happiness but this effect differs according (i) political system and level development, (ii) types measures resources (iii) scale happiness. Specifically, negative tends be am...

We measure the effect of coal resource sector dependence on long run income growth using the natural experiment of coal mining in 409 U.S. counties that are selected for homogeneity. Using a panel data set (1970-2010), we find a one standard deviation increase in resource dependence is associated with an estimated 0.6 percentage point drop in annual growth rates of per capita personal income. W...

The housing booms and busts in Ireland Spain were among the most striking episodes of Eurozone crisis. While asset price inflation financialization was gathering pace across developed world, these two ‘most different’ cases converged on same outcome as extreme forms construction-based bubbles. key contributions this paper are threefold. Firstly, we show how cheap credit can be understood analog...