If voters of different countries adhere to different and deeply rooted cultural norms, when these countries interact their leaders may find it impossible to agree on effi cient policies especially in hard times. Political leaders’actions are bound by a “conformity constraint”that requires them to express policies that do not violate these norms. This inhibits politicians from adopting the optim...

The article addresses Europeanization of social movements in the context of the European Sovereign Debt Crisis. Europeanization occurs when movements collaborate, or make horizontal communicative linkages with movements in other countries, contest authorities beyond the state, frame issues as European and claim a European identity. The article presents a theoretical framework and research desig...

Recent debate on the reform of the international financial architecture has highlighted the potentially important role of the official sector in crisis management. We examine how such public intervention in sovereign debt crises affects efficiency, ex ante and ex post. Our results shed light on the scale of capital inflows in such a regime, and we establish conditions under which this leads to ...