New Economics Papers
on Business, Economic and Financial History
Issue of 2008‒01‒26
thirteen papers chosen by
  1. The Rise and (Partial) Fall of Abstract Painting in the Twentieth Century By David Galenson
  2. Sui Generis EMU By Barry Eichengreen
  3. Domestic Trade and Market Size in Late Eighteen Century France By Guillaume Daudin
  4. The Taylor rule and the transformation of monetary policy By Pier Francesco Asso; George A. Kahn; Robert Leeson
  5. Firm By Jackie Krafft
  6. Institutions, histoire et développement dans le monde arabe et musulman. By Fatiha Talahite
  7. Trois approches néo-institutionnelles du développement dans le monde musulman : D.C. North, A. Greif, T. Kuran. By Fatiha Talahite
  8. Towards an historically relevant economics of the firm By Michael Dietrich; Jackie Krafft
  9. Japan’s Foreign Aid Sanctions Policy after the End of Cold War By Nikitina, Larisa; Furuoka, Fumitaka
  10. Joseph E. Stiglitz By Hoff, Karla
  11. A la recherche d'une théorie de la firme pertinente historiquement - Retour sur le cas d'intégration verticale General Motors - Fisher Body (1926) By Michael Dietrich; Jackie Krafft
  12. Edo machiyashiki keiei no shushikozo to shisanrishiritsu: 1695-1754 -Nihonbashi kobunacho 1chome Inuyamaya Kanbeke- [in Japanese] By Shuntaro Washizaki
  13. PERSISTENZE PASSATE E FERMENTI INNOVATIVI. L’AGRICOLTURA PARMENSE TRA ETA’ NAPOLEONICA E RESTAURAZIONE By C. Bargelli
  1. By: David Galenson
    Abstract: Non-representational painting was one of the most radical artistic innovations of the twentieth century. Abstract painting was created independently by three great pioneers - the experimental innovators Kandinsky and Mondrian, and the conceptual Malevich - virtually simultaneously, in the years immediately before and after the outbreak of World War I. It became the dominant form of advanced art in the decade after the end of World War II, as Pollock, de Kooning, Rothko, and their colleagues developed the experimental forms of Abstract Expressionism. But in the late 1950s and early ‘60s, Johns, Rauschenberg, Warhol, and a host of other young artists abruptly made a conceptual revolution in advanced art, and in the process reduced abstract painting to a minor role. The pioneers of abstract painting and the Abstract Expressionists had all been committed to abstraction as a vehicle for artistic discovery, and had believed that it would dominate the art of the future, but since the 1960s abstraction has become at most a part-time style for leading painters, and it is often used to mock the seriousness of earlier abstract painters.
    JEL: J01
    Date: 2008–01
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:13744&r=his
  2. By: Barry Eichengreen
    Abstract: The thesis of this paper is that there is no historical precedent for Europe's monetary union (EMU). While it is possible to point to similar historical experiences, the most obvious of which were in the 19th century, occurred in Europe, and had "union" as part of their names, EMU differs from these earlier monetary unions. The closer one looks the more uncomfortable one becomes with the effort to draw parallels on the basis of historical experience. It is argued that efforts to draw parallels between EMU and monetary unions past are more likely to mislead than to offer useful insights. Where history is useful is not in drawing parallels but in pinpointing differences. It is useful for highlighting what is distinctive about EMU.
    JEL: F15 N14
    Date: 2008–01
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:13740&r=his
  3. By: Guillaume Daudin
    Date: 2007
    URL: http://d.repec.org/n?u=RePEc:fce:doctra:0735&r=his
  4. By: Pier Francesco Asso; George A. Kahn; Robert Leeson
    Abstract: This paper examines the intellectual history of the Taylor Rule and its considerable influence on macroeconomic research and monetary policy. The paper traces the historical antecedents to the Taylor rule, emphasizing the contributions of three prominent advocates of rules--Henry Simons, A.W. H. Phillips, and Milton Friedman. The paper then examines the evolution of John Taylor's thinking as an academic and policy advisor leading up to his formulation of the Taylor rule. Finally, the paper documents the influence of the Taylor rule on macroeconomic research and the Federal Reserve's conduct of monetary policy.
    Date: 2007
    URL: http://d.repec.org/n?u=RePEc:fip:fedkrw:rwp07-11&r=his
  5. By: Jackie Krafft (GREDEG - Groupe de recherche en Droit Economie Gestion - Université de Nice Sophia-Antipolis)
    Abstract: Seventy years ago, Ronald Coase, Nobel Prize in 1991, wrote a seminal paper “The nature of the firm”. This paper is now traditionally considered as the origins of the development of an economic theory of the firm. Before this article, the firm was assimilated to a ‘black box’, incorporating inputs and generating outputs. Coase (1937) argued that the firm was more than this purely technical vision: the firm has a concrete existence in the business world, and its internal modes of organisation (especially the coordination of individuals by hierarchies) are different from simple market transactions (coordinated by prices). With this statement, he encouraged economists to elaborate realistic hypotheses on what is a firm, and what a firm does. Today, the research agenda opened up by Coase is far from being completed. Recent works on the economics of the firm converge to show how difficult it is to fully grasp and qualify this subject. The outcome is that the economics of the firm is a combination of different subjects, and no single model or theory captures all elements of the puzzle. This chapter is intended to give an overview of some of the key analytical and empirical issues that are debated today, and especially how the distinction between managerial and entrepreneurial evolves but still firms structures the current research agenda on the economics of the firm.
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:hal:papers:hal-00207817_v1&r=his
  6. By: Fatiha Talahite (CEPN - Centre d'économie de l'Université de Paris Nord - CNRS : UMR7115 - Université Paris-Nord - Paris XIII)
    Abstract: La qualité des institutions peut-elle expliquer le ‘retard’ de développement au Moyen Orient et en Afrique du Nord ? Des travaux récents essaient de répondre à cette question à l’aide de la théorie néo-institutionnaliste de Douglas North, laquelle explique l’essor du monde occidental par l’émergence au Nord de l’Europe au Xe siècle, d’institutions originales qui se diffuseront en Occident grâce à la concurrence entre nations. Pour expliquer les différences de développement entre nations et civilisations, North construit une vision de l’histoire mondiale centrée sur l’Occident et néglige l’apport des autres mondes, en particulier la multitude des échanges et des contacts entre l’Est et l’Ouest qui n’ont cessé depuis le moyen age jusqu’à la période moderne. Cette démarche est interpellée à la lumière des apports de la connaissance historique à l’étude des économies du monde arabe et musulman.
    Keywords: histoire économique, institutions, Moyen-Orient et Afrique du Nord.
    Date: 2008–01–10
    URL: http://d.repec.org/n?u=RePEc:hal:papers:halshs-00203507_v1&r=his
  7. By: Fatiha Talahite (CEPN - Centre d'économie de l'Université de Paris Nord - CNRS : UMR7115 - Université Paris-Nord - Paris XIII)
    Abstract: North (2005) attribue l’échec économique du monde musulman aux institutions et à leur incapacité à promouvoir l’adaptation à l’environnement et l’innovation. Il fait remonter cet échec au moyen âge tardif, aux Xe-XIIIe siècles. Pour sa démonstration, il s’appuie sur les travaux d’Avner Greif et Timur Kuran. Le premier, met en œuvre les notions opposées d’échange personnel/impersonnel, de relations formelles/informelles d’échange. Il aborde le changement institutionnel comme un phénomène endogène à la communauté, fondé sur les comportements individuels, et utilise la théorie des jeux pour le modéliser, dans une démarche se rapprochant de celle de Aoki (2001). Tandis que North et Kuran privilégient une approche globale ou systémique. North s’inscrit dans le temps long de l’histoire de l’humanité qu’il traite à l’échelle planétaire. Il intègre la culture à travers les notions de ‘croyance comportementale’ et d’’héritage cognitif’. Ces trois auteurs partagent le projet de décrire et expliciter le lien entre culture et développement économique, ainsi que la méthode de comparaison historique. Ils convergent dans leur tentative de définir un cadre conceptuel rigoureux pour l’analyse institutionnelle du développement économique. Cependant, leurs démarches sont très différentes, de par les cadres analytiques qu’ils construisent et les résultats auxquels ils aboutissent. Nous nous attachons à décrire et comparer ces trois démarches. Nous les interrogeons du point de vue de l’état des connaissances historiques et de l’analyse institutionnelle comparée du développement. Nous réfléchissons enfin aux perspectives d’approfondissement : en intégrant l’idée d’une diversité institutionnelle constitutive de l’histoire ; en proposant, au lieu d’une approche en termes de performance économique (évaluée à travers le taux de croissance du PIB, ce qui pose problème à une telle échelle historique), une caractérisation plus complexe et nuancée de la marche des économies et des sociétés.
    Keywords: histoire économique, institutions, Moyen-Orient et Afrique du Nord.
    Date: 2008–01–10
    URL: http://d.repec.org/n?u=RePEc:hal:papers:halshs-00203636_v1&r=his
  8. By: Michael Dietrich (Université de Sheffield - University of Sheffield); Jackie Krafft (GREDEG - Groupe de recherche en Droit Economie Gestion - Université de Nice Sophia-Antipolis)
    Abstract: The basic sub-text or conjecture of this paper is that an adequate economics of the firm should be historically relevant. The terms “adequate” and “relevant” imply, in the current context, that theoretical frameworks allow explanation of historical developments rather than a rationalisation of these developments. Two possible implications follow from this conjecture. First, given the complexity of historical reality a single theoretical approach to the firm may be inadequate as a general framework to understand actual events. It follows, therefore, that a historically relevant economics of the firm may imply theoretical pluralism. The possible nature of this pluralism is explored in this paper. Secondly, and following on from the first point, if the importance of theoretical pluralism is accepted, different frameworks or approaches to the firm may be relevant in different historical circumstances. Among other things, pluralism might therefore imply a requirement for empirically driven theory. In our context empirically driven suggests that historical reality is an important motivator for the economics of the firm rather than being something that is interpreted as an end product.
    Date: 2008–01–21
    URL: http://d.repec.org/n?u=RePEc:hal:papers:hal-00211196_v1&r=his
  9. By: Nikitina, Larisa; Furuoka, Fumitaka
    Abstract: During the Cold War, Japan seldom showed an interest in the political conditions in aid recipients. However, after the Cold War, Japan has been actively imposing negative aid sanctions (the suspension or a decrease in foreign aid) on recipient countries where undesirable policy changes occur, while positive aid sanctions (an increase in foreign aid) would be applied to aid recipients that conduct desirable polices in the light of Japan’s ODA Charter. Overall, from 1986 to 2002, two trends can be observed in Japan’s aid sanctions policy. First, the Japanese government refrained from taking strict measures against countries that maintain strong economic and diplomatic relations with Japan. Second, even if Tokyo did take punitive measure against those countries it softened its stance as soon as a convenient pretext could be found. All this indicates that policymakers in Tokyo still give priority to Japan’s economic interests.
    Keywords: Japan; Aid Sanctions
    JEL: F35
    Date: 2008–01–15
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:6757&r=his
  10. By: Hoff, Karla
    Abstract: Joseph E. Stiglitz, 2001 Nobel Laureate in Economics, helped create the theory of markets with asymmetric information and was one of the founders of modern development economics. He played a leading role in an intellectual revolution that changed the characterization of a market economy. In the new paradigm, the price system only imperfectly solves the information problem of scarcity because of the many other information problems that arise in the economy: the selection over hidden characteristics, the provision of incentives for hidden behaviors and for innovation, and the coordination of choices over institutions.
    Keywords: Labor Policies,Economic Theory & Research,,Debt Markets,Financial Intermediation
    Date: 2008–01–01
    URL: http://d.repec.org/n?u=RePEc:wbk:wbrwps:4478&r=his
  11. By: Michael Dietrich (Université de Sheffield - University of Sheffield); Jackie Krafft (GREDEG - Groupe de recherche en Droit Economie Gestion - Université de Nice Sophia-Antipolis)
    Abstract: L’objet de cet article est, sur la base du cas General Motors Fisher Body, de discuter de la pertinence historique des théories de la firme, et de proposer des pistes permettant de construire des théories pertinentes historiquement. Nous considérons l’ouverture de toutes les archives historiques concernant cette intégration verticale comme une opportunité de redécouvrir ce cas, et de réfléchir sur ce que doit être une théorie de la firme pertinente historiquement.
    Date: 2008–01–10
    URL: http://d.repec.org/n?u=RePEc:hal:papers:hal-00203553_v1&r=his
  12. By: Shuntaro Washizaki
    Date: 2008–01
    URL: http://d.repec.org/n?u=RePEc:hst:hstdps:d07-231&r=his
  13. By: C. Bargelli
    JEL: N53 B10
    Date: 2008
    URL: http://d.repec.org/n?u=RePEc:par:dipeco:2008-st01&r=his
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