The Tragedy of Liberal Democratic Governance in the Face of Global Threats.

In hindsight, the early response of liberal governments to the SARS-CoV-2 pandemic was chaotic and generally inefficient. Though one might be tempted to attribute these failures to the incompetence of certain political decision-makers, we propose another explanation. Global threats require a coordinated international response, which is only possible if the threat is perceived in the same way by all, and if government priorities are similar.

The Influence of Economic Policy Uncertainty and Business Cycles on Fine Wine Prices.

This study investigates the impact of both economic policy uncertainty (EPU) and business cycles on the fine wine market. We use a nonlinear autoregressive distributed lag model to measure the influence of these two variables on three major Liv-ex indices over the period 2005M01-2020M12. Our results are multiple.