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Notably:

“Economic damage from populist rule is typically severe,” they find. “Over 15 years, real GDP per capita is 10 per cent lower compared to the nonpopulist counterfactual.”

And

they rarely leave after losing elections, but more often amid “major scandals that lead to impeachment or resignations, constitutional crises and refusals to step down, as well as coups, suicides, or deadly accidents”. One of the paper’s authors, Schularick, has said it’s “totally naive” to imagine Trump will simply walk away in 2028