Markets in Everything*: Beatification

Barro and McCleary get to the bottom of one of the central questions in 21st-century economics – beatification:

We classify these blessed persons regionally in accordance with residence at death. These data are combined with time-series estimates of regional populations of Catholics, broadly-defined Protestants, Orthodox, and Evangelicals (mostly a sub-set of Protestants). Regression estimates indicate that the canonization rate depends strongly on the number of candidates, gauged by a region’s stock of beatifieds who have not yet been canonized. The beatification rate depends positively on the region’s stock of persons previously canonized.

* MIE meme stolen from Tyler Cowan and Alex Tabarrok