“…12 Examples of such applications include openness and trade liberalization policies (Nannicini and Billmeier, 2011;Billmeier and Nannicini, 2013;Ritzel and Kohler, 2017), impact of trade agreements (Hosny, 2012;Hannan, 2016Hannan, , 2017Aytug et al, 2017), impact of joining a currency union (Saia, 2017;Puzzello and Gomis-Porqueras, 2018), economic regimes/political stability (Grier and Maynard, 2016;Meyersson, 2017;Jales et al, 2018;Matta et al, forthcoming), natural disasters (Coffman and Noy, 2012;Cavallo et al, 2013;Mideksa, 2013; Barone and Mocetti, 2014;Mohan, 2017), terrorism, civil wars, crime, and political risks (Montalvo, 2011;Pinotti, 2015;Singhal and Nilakatan, 2016;Bilgel and Karahasan, 2017;Bove et al, 2017;Costalli et al, 2017;Bove and Elia, 2018), health economics (Bilgel and Galle, 2015;Krief et al, 2016), economic sanctions (Gharehgozli, 2017), migration (Powell et al, 2017), and natural resource discoveries (Smith, 2015).…”