nep-his New Economics Papers
on Business, Economic and Financial History
Issue of 2014‒02‒08
23 papers chosen by
Bernardo Batiz-Lazo
Bangor University

  1. Malthus and the Industrial Revolution: Evidence from a Time-Varying VAR By Samad Sarferaz; Alexander Rathke
  2. The anti-apartheid movement in Japan : an overview By Makino, Kumiko
  3. The Fiscal Cost of Trade Liberalization By Julia Cagé; Lucie Gadenne
  4. Gender Discrimination in Property Rights By Casari, Marco; Lisciandra, Maurizio
  5. Age and Scientific Genius By Benjamin Jones; E.J. Reedy; Bruce A. Weinberg
  6. Institutionen und historische Grenzen By Jürgen Jerger
  7. Short‐Run Macro After the Crisis: The End of the “New” Neoclassical Synthesis? By Oliver Landmann
  8. In memoriam of Professor Ronald Coase By Ana Lourenço
  9. A study of the failure of Panasonicfs plasma TV business By Takanori Nakano
  10. In Search of the Banking Regulator amid U.S. Financial Reforms of the 1930s By Dominique Lacoue-Labarthe
  11. War and the Destruction of Human Capital By Jorge M. Agüero; Muhammad Farhan Majid
  12. Economic Growth Evens-Out Happiness: Evidence from Six Surveys By Andrew E. Clark; Sarah Flèche; Claudia Senik
  13. The Value of Connections: Evidence from the Italian-American Mafia By Mastrobuoni, Giovanni
  14. Les improvisations financière de la guerre de 1914-1918 en France. Les enjeux de la liquidité. By Bertrand BLANCHETON
  15. The Poor and the Poorest, Fifty Years On By Gazeley, Ian; Newell, Andrew T.; Reynolds, Kevin; Searle, Rebecca
  16. Ceremonial Science: The State of Russian Economics Seen Through the Lens of the Work of ‘Doctor of Science’ Candidates By Alexander Libman; Joachim Zweynert
  17. Taxonomía y representación de los cambios en los municipios españoles By Francisco Ruiz González; Francisco José Goerlich Gisbert
  18. Does economic integration increase trade margins? Empirical evidence from LAIAs countries By Luis Marcelo Florensa; Laura Márquez-Ramos; María Luisa Recalde; María Victoria Barone
  19. Le Mont-de-Piété à Bordeaux, les raisons d’un succès (1802-1913) By Bertrand BLANCHETON; Guillaume PASTUREAU
  20. Four Lectures on Central Banking By Arthur Grimes
  21. Parental Leave and Labour Market Outcomes: Lessons from 40 Years of Policies in OECD countries By Olivier Thévenon; Anne Solaz
  22. From Aliens to Citizens: The Political Incorporation of Immigrants By Bevelander, Pieter; Spång, Mikael
  23. Evolution of Land Distribution in West Bengal 1967-2004: Role of Land Reform and Demographic Changes By Pranab Bardhan; Michael Luca; Dilip Mookherjee; Francisco Pino

  1. By: Samad Sarferaz (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Alexander Rathke (KOF Swiss Economic Institute, ETH Zurich, Switzerland)
    Abstract: In the process of economic development economies grow through various regimes, each characterized by different demographic-economic interactions. The changes in these interactions are key elements in different explanations of the escape from Malthusian stagnation. We employ time-varying vector autoregressions, an approach that allows tracking this transition for England in the period between 1541 and 1870. The empirical findings suggest that the link between real wages and population growth was at work until the 19th century. Furthermore, we document changes in the propagation mechanism from real wages on population growth over time that feature prominently in Unified Growth Theory. Most remarkably, in contrast to earlier empirical literature we find strong effects of income on mortality after the 1750s.
    Keywords: Industrial Revolution, Malthusian Trap, Time-Varying, Vector Autoregression, Unified Growth Theory
    JEL: C32 J13 N13 O11
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:kof:wpskof:14-351&r=his
  2. By: Makino, Kumiko
    Abstract: Anti-apartheid movements outside South Africa have been recently becoming a popular research topic as an indispensable part of the history of the liberation struggle against apartheid, as well as from the “global civil society†point of view, i.e. anti-apartheid movements as one of the earliest examples of transnational social movements with the aim of realization of global justice. The Japanese movement, however, has attracted little attention so far, despite its history of nearly half century. The Japanese movement’s characteristic foci and style, reflecting the unique position of Japan as a non-white nation with strong trade relations with white-dominated South Africa, certainly deserves detailed study. This paper is an attempt to fill the gap by outlining the history of the anti-apartheid movement in Japan.
    Keywords: South Africa, Japan, Apartheid, Civil society, Anti-apartheid movement
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper440&r=his
  3. By: Julia Cagé (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris, PSE - Paris-Jourdan Sciences Economiques - CNRS : UMR8545 - École des Hautes Études en Sciences Sociales (EHESS) - École des Ponts ParisTech (ENPC) - École normale supérieure [ENS] - Paris - Institut national de la recherche agronomique (INRA)); Lucie Gadenne (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris, PSE - Paris-Jourdan Sciences Economiques - CNRS : UMR8545 - École des Hautes Études en Sciences Sociales (EHESS) - École des Ponts ParisTech (ENPC) - École normale supérieure [ENS] - Paris - Institut national de la recherche agronomique (INRA))
    Abstract: This paper puts the recent evolution of tax revenues in developing countries in historical perspective. Using a novel dataset on total and trade tax revenues we compare the fiscal cost of trade liberalization in developing countries and in today's rich countries at earlier stages of development. We find that trade liberalization episodes led to larger and longer-lived decreases in total tax revenues in developing countries since the 1970s than in rich countries in the 19th and early 20th centuries. The fall in total tax revenues lasts more than ten years in half the developing countries in our sample.
    Keywords: Taxation and development ; Trade liberalization ; State capacity ; Tax and tariff reform
    Date: 2014–02
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-00705354&r=his
  4. By: Casari, Marco (University of Bologna); Lisciandra, Maurizio (University of Messina)
    Abstract: Starting from the medieval period, women in the Italian Alps experienced a progressive erosion in property rights over the commons. We collected documents about the evolution of inheritance regulations on collective land issued by hundreds of peasant communities over a period of six centuries (13th-19th). Based on this original dataset, we provide a long-term perspective of decentralized institutional change in which gender-biased inheritance systems emerged as a defensive measure to preserve the wealth of community insiders. This institutional change had implications also for the protection from economic shocks, for population growth, and for marriage strategies.
    Keywords: land rights, endogamy, migrations, common property
    JEL: J16 N53 Q20
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp7938&r=his
  5. By: Benjamin Jones; E.J. Reedy; Bruce A. Weinberg
    Abstract: Great scientific output typically peaks in middle age. A classic literature has emphasized comparisons across fields in the age of peak performance. More recent work highlights large underlying variation in age and creativity patterns, where the average age of great scientific contributions has risen substantially since the early 20th Century and some scientists make pioneering contributions much earlier or later in their life-cycle than others. We review these literatures and show how the nexus between age and great scientific insight can inform the nature of creativity, the mechanisms of scientific progress, and the design of institutions that support scientists, while providing further insights about the implications of aging populations, education policies, and economic growth.
    JEL: J11 O31
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:19866&r=his
  6. By: Jürgen Jerger (IOS Regensburg)
    Abstract: The relevance of (political) borders on the one hand and of historical conditions on the other hand for some of today’s aspects of ec onomic and social reality is well established in both theoretical and empirical research in economics as wel as in other disciplines. More surprising are empirical results that point to a long-lasting relevance of historical borders that may still exert causal on effects on present conditions and observations. This paper argues that the explanation of these effects is a demanding, albeit potentially very rewarding challenge for institutional economics in particular and an interdisciplinary research program in general.
    Date: 2013–12
    URL: http://d.repec.org/n?u=RePEc:ost:wpaper:336&r=his
  7. By: Oliver Landmann (Institut für allgemeine Wirtschaftsforschung, Universität Freiburg)
    Abstract: The Financial Crisis of 2008, and the Great Recession in its wake, have shaken up macroeconomics. The paradigm of the “New” Neoclassical Synthesis, which seemed to provide a robust framework of analysis for short‐run macro not long ago, fails to capture key elements of the recent crisis. This paper reviews the current reappraisal of the paradigm in the light of the history of macroeconomic thought. Twice in the past 80 years, a major macroeconomic crisis led to the breakthrough of a new paradigm that was to capture the imagination of an entire generation of macroeconomists. This time is different. Whereas the pre‐crisis consensus in the profession is broken, a sweeping transition to a single new paradigm is not in sight. Instead, macroeconomics is in the process of loosening the methodological straightjacket of the “New” Neoclassical Synthesis, thereby opening a door for a return to its original purpose: the study of information and coordination in a market economy.
    Keywords: Financial Crisis, Great Recession, Macroeconomics, New Neoclassical Synthesis, Keynesian Economics, New Classical Economics, Great Moderation
    JEL: B22 B40 E10 E12 E13
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:fre:wpaper:27&r=his
  8. By: Ana Lourenço (Faculdade de Economia e Gestão - Universidade Católica Portuguesa, Porto)
    Abstract: This article was written as a tribute to Professor Ronald Coase. It acknowledges his scholarly contributions to understanding the existence and boundaries of the firm, and the role of legal rules in organizing economic activity. It also recognizes the reflexivity, realism, simplicity and wit inherent to the work of Professor Ronald Coase.
    Date: 2013–12
    URL: http://d.repec.org/n?u=RePEc:cap:wpaper:062013&r=his
  9. By: Takanori Nakano (Graduate School of Economics, Osaka University)
    Abstract: This study finds out one of the explanations about the failure of high technology business from the case analysis of Panasonicfs plasma TV business. By the in-depth historical survey of secondary information sources, this study shows that "authority of Kunio Nakamura", "idolization of Kunio Nakamura and plasma TV", and "persistence in a successful logic" disturbed the strategic change of Panasonic. Then this study concludes that a serious decrease in sensing ability by those three would be one of the major factors of the failure in high technology business.
    Keywords: authority, idolization, persistent thought, sensing ability
    JEL: M14
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:osk:wpaper:1404&r=his
  10. By: Dominique Lacoue-Labarthe (Larefi - Laboratoire d'analyse et de recherche en économie et finance internationales - Université Montesquieu - Bordeaux IV : EA2954)
    Abstract: Some bank reforms of the 1930s in the United States may have been overvalued. The Glass-Steagall Act of 1933 actually created new endogenous risks involving potential systemic effects. Deposit insurance failed to address the main cause of banking panics, and rather strengthened inefficient unit banks, while the prohibition of interstate bank branching continued to hinder banks to diversify idiosyncratic risks. The separation of commercial and investment banking put an end to certain conflicts of interest but it created an opportunity cost by preventing universal banking from developing effectively. Finally, an untimely intervention in a duopolistic conflict made the regulator a captive figure. By contrast, major innovations covering bailout processes and prudential regulation appear to have been underestimated. The Reconstruction Finance Corporation of 1932 established the foundations of an investor of last resort, giving the Treasury the authority to recapitalize insolvent financial institutions deemed too big to fail. The newly established banking regulator, the Federal Deposit Insurance Corporation of 1933, was given a special bank-closure rule, separate from the usual bankruptcy proceedings, which opened a way towards orderly resolution of failing banks in order to protect the economy from the spread of systemic risk.
    Keywords: bank reform, United States, Regulation, Economic history
    Date: 2014–01–15
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00937533&r=his
  11. By: Jorge M. Agüero (University of Connecticut); Muhammad Farhan Majid (University of Pennsylvania)
    Abstract: The identification of the effect of wars on human capital tends to focus on the population of school age children at the time of the conflict. Our paper introduces a methodology to estimate the effect of war on the stock of human capital by examining the changes in the presence of educated people after the Rwanda genocide. We find that the genocide reduced the stock of human capital in Rwanda severely. The before-and-after results show that highly educated individuals (i.e., those with primary education or more) are “missing” at a rate that is 19.4% higher than the less educated. Moreover, Rwanda's average years of schooling is lower by 0.37 years. When comparisons with Uganda are made, these estimates more than double suggesting that, if anything, the previous finding were biased downwards. Interestingly, when the cross-sectional variation within Rwanda variation in intensity of genocide is exploited there is no evidence of statistically significant differences. This suggests that the losses in the stock of human capital due to the Rwandan genocide were aggregate in nature.
    Keywords: Civil war, Mortality, Education, Human capital, Education, Genocide, Africa
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:hic:wpaper:163&r=his
  12. By: Andrew E. Clark (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris, PSE - Paris-Jourdan Sciences Economiques - CNRS : UMR8545 - École des Hautes Études en Sciences Sociales (EHESS) - École des Ponts ParisTech (ENPC) - École normale supérieure [ENS] - Paris - Institut national de la recherche agronomique (INRA)); Sarah Flèche (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris, PSE - Paris-Jourdan Sciences Economiques - CNRS : UMR8545 - École des Hautes Études en Sciences Sociales (EHESS) - École des Ponts ParisTech (ENPC) - École normale supérieure [ENS] - Paris - Institut national de la recherche agronomique (INRA)); Claudia Senik (EEP-PSE - Ecole d'Économie de Paris - Paris School of Economics - Ecole d'Économie de Paris, PSE - Paris-Jourdan Sciences Economiques - CNRS : UMR8545 - École des Hautes Études en Sciences Sociales (EHESS) - École des Ponts ParisTech (ENPC) - École normale supérieure [ENS] - Paris - Institut national de la recherche agronomique (INRA), UP4 - Université Paris 4, Paris-Sorbonne - Université Paris IV - Paris Sorbonne - Ministère de l'Enseignement Supérieur et de la Recherche Scientifique)
    Abstract: In spite of the great U-turn that saw income inequality rise in Western countries in the 1980s, happiness inequality has dropped in countries that have experienced income growth (but not in those that did not). Modern growth has reduced the share of both the "very unhappy" and the "perfectly happy". The extension of public amenities has certainly contributed to this greater happiness homogeneity. This new stylized fact comes as an addition to the Easterlin paradox, offering a somewhat brighter perspective for developing countries.
    Keywords: Happiness ; Inequality ; Economic growth ; Development ; Easterlin paradox
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-00936145&r=his
  13. By: Mastrobuoni, Giovanni (University of Essex)
    Abstract: Using declassified Federal Bureau of Narcotics records on 800 US Mafia members active in the 1950s and 1960s, and on their connections within the organized crime network, I estimate network effects on gangsters' economic status. Lacking information on criminal proceeds, I measure economic status exploiting detailed information about their place of residence. Housing values are reconstructed using current deflated transactions recorded on Zillow.com. I deal with the potential reverse causality between the economic status and the gangster's position in the network exploiting exogenous exposure to potential pre-immigration connections. In the absence of pre-immigration data I use the informational content of surnames, called isonomy, to measure the place of origin. The instrument is valid as long as conditional on the characteristics of the gangsters (including the region of birth and a rich set of controls about the gangsters' legal and illegal activities) such exposure influences the gangsters' importance in- side the network (called centrality) but not the preference for specific housing needs. A standard deviation increase in closeness centrality increases economic status by between one forth (OLS) and one standard deviation (2SLS).
    Keywords: mafia, networks, centrality, housing prices, value of connections, crime, surnames, isonomy
    JEL: A14 C21 D23 D85 K42 Z13
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp7925&r=his
  14. By: Bertrand BLANCHETON
    Abstract: Cet article met en exergue les improvisations dans la gestion financière de la guerre. Le choix d’un moratoire des dépôts bancaires au détriment du réescompte traduit un refus de faire jouer à la Banque de France un rôle de préteur en dernier ressort. Le choix précipité de privilégier la dette flottante pose les bases d’une perte de contrôle du marché monétaire par les autorités monétaires françaises. L’article questionne le rapport des contemporains avec la liquidité.
    Keywords: Première Guerre mondiale, Finance, Banque de France, liquidité.
    JEL: N24
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:grt:wpegrt:2014-03&r=his
  15. By: Gazeley, Ian (University of Sussex); Newell, Andrew T. (University of Sussex); Reynolds, Kevin (University of Sussex); Searle, Rebecca (University of Sussex)
    Abstract: We re-explore Able-Smith and Townsend's landmark study of poverty in early post WW2 Britain. They found a large increase in poverty between 1953-4 and 1960, a period of relatively strong economic growth. Our re-examination is a first exploitation of the newly-digitised Board of Trade Household Expenditure Survey data set for 1953/4. Able-Smith and Townsend used only a small part of this data source. We find that Able-Smith and Townsend substantially over-estimated the rise in absolute poverty and also substantially under-estimated the rise in relative poverty. Their and our findings on poverty reflect a large rise inequality in the distribution of expenditure among British households. This rise is related to a rise in the preponderance of pensioner households, who, for instance, account for all the poor households in the 1961 Family Expenditure survey.
    Keywords: poverty, inequality 1950s, Britain
    JEL: N34 I32 J12
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp7909&r=his
  16. By: Alexander Libman (Frankfurt School of Finance and Management); Joachim Zweynert
    Abstract: The paper investigates the current status of economic research in Russia using a previously unexplored dataset of Russian ‘Doctor of Science’ (Dr. Sc.) theses. The Dr. Sc. degree is a postdoctoral qualification necessary for career advancement at most Russian universities. Thus, by looking at the Dr. Sc. theses we are able to provide a systematic overview of ‘average’ scientific standards in Russia, particularly at the mass universities at which most administrators and bureaucrats are trained. We show that the level of integration of Russian economics into the international scientific community remains very low. Moreover, we obtain a picture of a mostly ‘ceremonial’ science. Researchers combine references to ‘classical’ research, formal methods and practical application merely as an instrument for presenting the mostly verbal argument in a more scientific’ way.
    Keywords: Russian economics, international integration, scientific methodology
    JEL: A11 B41 I23 P39
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:ost:wpaper:337&r=his
  17. By: Francisco Ruiz González (Dpto. Tecnologías y Sistemas de Información); Francisco José Goerlich Gisbert (Instituto Valenciano de Investigaciones Económicas)
    Abstract: This paper makes a proposal for a taxonomy of boundary changes in Spanish municipalities along time. The different types of changes are organized in a hierarchy, as well as represented in a homogeneous manner, independently of the number of municipalities involved and of the changes suffered. Each alteration is described in a precise and unambiguous way, and it is codified to permit an automatic treatment of the information. In addition to an efficient treatment of the information about municipal changes, a normalized representation facilitates the automatic detection of inconsistencies in public databases. At the same time, the taxonomy allow us to define backward and forward equivalence rules, that helps in the task of generating homogeneous time series about municipal characteristics, like population or surface. Eventually, we offer an application of the proposal to inconsistencies and error detection in the database: Municipal Changes in Population Census from 1842 from the Spanish National Statistical Institute (INE). El presente trabajo realiza una propuesta de categorización de las alteraciones y cambios en los municipios españoles a lo largo del tiempo. Los tipos de cambio se organizan jerárquicamente y se representan de una manera homogénea, válida para todas las situaciones posibles, independientemente del número de municipios afectados y de los cambios que sufren. Cada alteración se describe de forma precisa e inequívoca, y se codifica de manera que permita un tratamiento automático. Además de un tratamiento eficiente de la información, la representación normalizada de las alteraciones facilita la detección automática de incoherencias en los repositorios públicos existentes. Al mismo tiempo, la categorización ha permitido definir reglas de equivalencia hacia delante y hacia atrás en el tiempo, para guiar la generación de series homogéneas de características municipales, como población o superficie. Finalmente, se ofrecen los resultados de la aplicación de la propuesta a la detección de inconsistencias en la base de datos de Alteraciones de los Municipios en los Censos de Población desde 1842 del Instituto Nacional de Estadística (INE). DOI: http://dx.medra.org/10.12842/WPEC_201401
    Keywords: Cambios municipales, censos de población, series homogéneas, representación normalizada, reglas de equivalencia, criterios de inconsistencia Municipal boundary changes, population census, homogeneous series, standardized representation, equivalence rules, inconsistency criteria
    JEL: J11 R12 R14
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:ivi:wpasec:2014-01&r=his
  18. By: Luis Marcelo Florensa (Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Córdoba, Argentina); Laura Márquez-Ramos (Department of Economics and Instituto de Economía Internacional, Universitat Jaume I, Castellón, Spain); María Luisa Recalde (Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Córdoba, Argentina); María Victoria Barone (Instituto de Economía y Finanzas- Universidad Nacional de Córdoba, Córdoba, Argentina)
    Abstract: This paper studies the effects of economic integration in Latin America on the margins of trade. The analysis is performed on bilateral exports of goods from eleven member countries of the Latin American Integration Association (LAIA) over the period 1962-2009. We distinguish the effects of different levels of integration on trade margins; different “timing” and different sectors. Our results provide evidence about the benefits of regional integration. Despite appearing to have contributed most to boosting exports of goods that were already exported rather than to diversification, regional trade integration is in line with LAIA members’ development and industrialization objectives.
    Keywords: Regional integration, extensive margin, intensive margin, LAIA, panel data
    JEL: F14 F15
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:jau:wpaper:2014/05&r=his
  19. By: Bertrand BLANCHETON; Guillaume PASTUREAU
    Abstract: L’instauration du Mont-de-Piété à Bordeaux fut un succès institutionnel. Ses objectifs sont atteints : il lutte contre l’usure, abaisse le coût du crédit, finance la politique de bienfaisance de la ville, tout en étant indépendant financièrement. McLaughlin (2013) a étudié les causes de l’échec du Mont-de-Piété irlandais au début du XIXe siècle. Contrairement à l’institution française, l’établissement irlandais ne bénéficie pas d’un cadre législatif favorable, et il fut créé dans un environnement socio-économique très différent. Il convient de vérifier la position de McLaughlin et d’appréhender l’importance du monopole du prêt sur gages accordé au Mont-de-Piété français. Cependant, il est nécessaire de dépasser ce simple cadre. Le Mont-de-Piété répond à une demande sociale forte et apporte les réponses adéquates. L’objet de cet article est d’étudier les causes de la réussite de l’établissement de Bordeaux, et de proposer pour cela le concept d’économie sociale de bienfaisance.
    Keywords: Mont-de-Piété, prêt sur gages, histoire économique, aide sociale
    JEL: I38 N20 N33 L31
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:grt:wpegrt:2014-01&r=his
  20. By: Arthur Grimes (Motu Economic and Public Policy Research and the University of Auckland)
    Abstract: These four lectures on central banking topics were presented in London between September and December 2013. The lectures were delivered as part of Arthur Grimes’ NZ-UK Link Foundation Visiting Professorship, based at the University of London’s School of Advanced Study. They followed his stepping down as Chair of the Reserve Bank of New Zealand in September 2013 after ten years in that role. The four lecture topics (and the institution at which they were delivered) are: Inflation Targeting: 25 Years’ Experience of the Pioneer (Bank of England); A Floating Exchange Rate is the Worst Exchange Rate Regime (except for all the others that have been tried) (University College London); How Prudent are Macroprudential Policies? (London School of Economics); Responsibility and Accountability in the Financial Sector (Institute of Advanced Legal Studies). A key theme across all four lectures is the importance of ensuring that central bank policies and actions are time consistent. Time consistency requires that a central bank can commit to implementing the policies that it says it will implement. For instance, if a central bank commits to delivering low inflation, it will not use its powers to deliver other goals at the expense of low inflation. Similarly, if it commits not to bail out banks in the event of failure, then it (and other official bodies) will not bail out a failed bank.
    Keywords: Central banking; inflation targeting; exchange rate systems; macroprudential policy; microprudential policy
    JEL: E52 E58 H81
    Date: 2014–02
    URL: http://d.repec.org/n?u=RePEc:mtu:wpaper:14_02&r=his
  21. By: Olivier Thévenon (INED); Anne Solaz (INED)
    Abstract: Paid parental leave has gained greater salience in the past few decades with the growing participation of mothers in the workforce. Indeed, the average number of weeks of paid leave to mothers among OECD countries increased from 17 in 1980 to 48 weeks by 2011, but with very large cross-country variations. We investigate how increases in periods of paid leave after a birth affect prime-age labour market outcomes for men and women in 30 OECD countries from 1970 to 2010. We also examine gender differences in outcomes. We find that extensions of paid leave have a positive, albeit small, influence on female employment rates and on the gender ratio of employment, as long as the total period of paid leave does not exceed two years. Weeks of paid leave also raise the average number of hours worked by women relative to men, up to a certain limit. By contrast, the provision of paid leave widens the earnings gender gap among full-time employees.
    Date: 2014
    URL: http://d.repec.org/n?u=RePEc:idg:wpaper:199&r=his
  22. By: Bevelander, Pieter (Malmö University); Spång, Mikael (Malmö University)
    Abstract: This is a draft chapter for the Handbook on Economics of International Migration (Eds. B. R. Chiswick and P. W. Miller) and deals with the political incorporation of immigrants in host societies. Political incorporation is discussed with regard to the regulation of legal status, rights, opportunities, and acquisition of citizenship. We give examples of the legal regulation and policies from several countries in the world, showing thereby the diversity of approaches to political incorporation but also similarities to the regulation of access to residence, rights, and citizenship. We highlight changes in this regard since the Second World War and discuss more recent trends. Moreover, we discuss different factors explaining the variation in incorporation policies. Also, this chapter traces different dimensions of political participation of immigrants, and, finally, we address the expected effects on wider integration of citizenship acquisition.
    Keywords: political participation, minorities, immigration, political incorporation, naturalization, citizenship, non-citizens, rights
    JEL: D72 J15 J61
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp7920&r=his
  23. By: Pranab Bardhan (University of California, Berkeley); Michael Luca (Harvard Business School, Negotiation, Organizations & Markets Unit); Dilip Mookherjee (Department of Economics, Boston University); Francisco Pino (Université Libre de Bruxelles)
    Abstract: This paper studies how land reform and population growth affect land inequality and landlessness, focusing particularly on indirect effects owing to their influence on household divisions and land market transactions. Theoretical predictions of a model of household division and land transactions are successfully tested using household panel data from West Bengal spanning 1967-2004. The tenancy reform lowered inequality through its effects on household divisions and land market transactions, but its effect was quantitatively dominated by inequality-raising effects of population growth. The land distribution program lowered landlessness but this was partly offset by targeting failures and induced increases in immigration.
    Keywords: inequality, land reform, household division, land markets
    JEL: J12 O13 O13
    Date: 2014–01
    URL: http://d.repec.org/n?u=RePEc:hbs:wpaper:14-066&r=his

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