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on Business, Economic and Financial History |
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Issue of 2014‒09‒08
48 papers chosen by |
| By: | Frederic Teulon |
| Abstract: | This paper, writen primarily for economists, but also for historians, attemps to explain why the thought of Jacques Rueff on the international monetary system and the role it played today deserve interest. Rueff is a prominent figure in the inter-war and post-war, he participated in major theoretical debates about unemployment, the legitimacy of transfers imposed on Germany (controversies with John Maynard Keynes and Bertil Ohlin) , exchange rates, inflation and deflation. Fascinated by the system of the gold standard, Rueff denounces U.S. monetary hegemony and international monetary disorder for years 1950/1970. Unlike Robert Triffin, Jacques Rueff did not believe the time had arrived for “managed money” to replace the gold standard after the World War II. According to Rueff, the period between the two world wars had shown that only a gold standard could bind the central bank to a time-consistent policy with reasonable price stability. Rueff was one of the first to highlight this issue, now considered essential of the time-consistency problem in monetary policy and to emphasize the centrality of the creation of a stable international monetary order. |
| Keywords: | International monetary system, Bretton Woods, Gold Standard, Special drawing rights |
| JEL: | B20 B31 F30 F33 |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-515&r=his |
| By: | Daniel Gingerich |
| Abstract: | This paper examines how the adoption of the Australian ballot (AB), and ipso facto, the transition from the nominal to effective secret vote, shaped the nature of party politics in Brazil. Engaging the literature on political clientelism, the impact of the AB on three outcomes is studied: 1) the ideological leanings of voters at the ballot box; 2) the degree of electoral control enjoyed by local vote brokers; and 3) the capacity of citizens to effectively participate in the electoral process. In order to get leverage on these issues, the paper utilizes an original dataset -painstakingly assembled from regional electoral archives- which contains municipal-level vote returns for federal deputy and senate contests during the period before and after the AB's introduction in Brazil (1958-1962). The dataset exploits the fact that the AB was introduced at different times in different states and for different offices in the country, thereby creating an unprecedented opportunity to assess the impact of this institution. Using a triple difference-in-difference procedure, the study finds that the AB: 1) shifted the ideological balance of power from Right to Left; 2) did not greatly weaken the hand of vote brokers; and 3) greatly increased the proportion of wasted votes cast in elections. |
| JEL: | D72 K N4 N46 O17 |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:idb:wpaper:idb-wp-428&r=his |
| By: | Edwin M. Truman (Peterson Institute for International Economics) |
| Abstract: | This paper traces the evolution of the Federal Reserve and its engagement with the global economy over the last three decades of the 20th century: 1970 to 2000. The paper examines the Federal Reserve’s role in international economic and financial policy and analysis covering four areas: the emergence and taming of the great inflation, developments in US external accounts, foreign exchange analysis and activities, and external financial crises. It concludes that during this period the US central bank emerged to become the closest the world has to a global central bank. |
| Keywords: | Federal Reserve, Federal Open Market Committee, inflation, macroeconomic policies, monetary policy, external balance, exchange rates, exchange market intervention, financial crises, third world debt crises, Mexican crisis, Asian financial crises |
| JEL: | F3 F31 F32 F33 F34 E4 E42 F5 F52 F53 |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:iie:wpaper:wp14-5&r=his |
| By: | Thomas I. Palley |
| Abstract: | Milton Friedman's influence on the economics profession has been enormous. In part, his success was due to political forces that have made neoliberalism the dominant global ideology, but Friedman also rode those forces and contributed to them. Friedman's professional triumph is testament to the weak intellectual foundations of the economics profession which accepted ideas that are conceptually and empirically flawed. His success has taken economics back in a pre-Keynesian direction and squeezed Keynesianism out of the academy. Friedman's thinking also frames so-called new Keynesian economics which is simply new classical macroeconomics with the addition of imperfect competition and nominal rigidities. By enabling the claim that macroeconomics is fully characterized by a divide between new Keynesian and new classical macroeconomics, new Keynesianism closes the pincer that excludes old Keynesianism. As long as that pincer holds, economics will remain under Friedman's shadow. |
| Keywords: | Friedman, monetarism, new classical macroeconomics, new Keynesian, neoliberalism |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:imk:wpaper:134-2014&r=his |
| By: | William Phelan (Institute for International Integration Studies, Trinity College Dublin) |
| Abstract: | As the ECJÕs two most famous decisions, Van Gend en Loos and Costa v. ENEL, which established the direct effect and supremacy of European law, are commemorated on their fiftieth anniversaries, attention has also turned to another of the ECJÕs early decisions. On 13th November 1964, in Commission v. Luxembourg & Belgium, the Dairy Products case, the ECJ rejected the use of Ôself-helpÕ countermeasures in the Community legal order, and therefore marked the fundamental distinction between European law and general international law. Drawing on writings by Robert Lecourt, Paul Reuter, and Paul Kapteyn, this paper demonstrates that a direct causal link between these three cases was recognized by ECJ judges and legal scholars as early as 1965. The historical evidence presented here therefore supports previous comparative analysis that has argued that these three decisions Ð Van Gend, Costa, and Luxembourg & Belgium Ð should be acknowledged as profoundly inter-connected, in that national court application of European obligations should be understood as a substitute for the enforcement of European obligations through inter-state countermeasures. |
| Keywords: | European Law, International Law, History of European Law, Van Gend en Loos, Costa v ENEL, Commission v Luxembourg and Belgium |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:iis:dispap:iiisdp455&r=his |
| By: | Paulo Bastos; Matias Busso; Sebastian Miller |
| Abstract: | We examine the long-term impacts of drought on local labor markets in Brazil. Us- ing rainfall data going back over a century, we build contemporaneous and historical drought indices for more than 3,000 local areas, and examine them in conjunction with five waves of population census data spanning 1970-2010. Results from a difference- in-differences design reveal that increased drought frequency in the previous decade reduces local value added, employment and wages in the agricultural sector; leads to job losses and pay cuts in the local manufacturing and services sectors; and induces out-migration, especially among younger cohorts, leading to relative population de- cline. These findings are in line with standard general-equilibrium theory featuring imperfect labor mobility across space. |
| JEL: | J61 N96 O15 Q54 R11 R23 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:idb:wpaper:idb-wp-466&r=his |
| By: | Boschma, Ron (CIRCLE, Lund University and Department of Economic Geography, Urban and Regional research centre Utrecht, Utrecht University) |
| Abstract: | This paper proposes an evolutionary perspective on regional resilience. We conceptualize resilience not just as the ability of a region to accommodate shocks, but we extend it to the long-term ability of regions to develop new growth paths. We propose a comprehensive view on regional resilience, in which history is key to understand how regions develop new growth paths, and in which industrial, network and institutional dimensions of resilience come together. Resilient regions are capable of overcoming a trade-off between adaptation and adaptability, as embodied in their industrial (related and unrelated variety), network (loosely coupled) and institutional (loosely coherent) structures. |
| Keywords: | regional resilience; related variety; networks; institutions; evolutionary economic geography |
| JEL: | B52 D85 L16 O18 R11 |
| Date: | 2014–08–23 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:lucirc:2014_014&r=his |
| By: | Itamar Caspi (Research Department; Bank of Israel); Nico Katzke (Department of Economics, Stellenbosch University, South Africa; Department of Economics, University of Pretoria) |
| Abstract: | This paper sets out to date-stamp periods of historic oil price explosivity (or bubbles) using the Generalized sup ADF (GSADF) test procedure suggested by Phillips et al. (2013). The date-stamping strategy used in this paper is effective at identifying periodically collapsing bubbles; a feature found lacking with previous bubble detecting methods. We set out to identify bubbles in the real price and the nominal price-supply ratio of oil for the period 1876 - 2014. The recursive identification algorithms used in this study identifies several periods of significant explosivity, and as such provides future researchers with a reference for studying the macroeconomic impact of historical periods of significant oil price build-ups. |
| Keywords: | Oil-prices, Date-Stamping Strategy, Periodically Collapsing Bubbles, Explosivity, Flexible Window, GSADF Test, Commodity Price Bubbles |
| JEL: | C15 C22 |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:pre:wpaper:201445&r=his |
| By: | Jorge Aguero |
| Abstract: | This paper uses year-to-year variation in temperature to estimate the long-term effects of climate change on health outcomes in Mexico. Combining temperature data at the district level and three rounds of nationally representative household surveys, an individual’s health as an adult is matched with the history of heat waves from birth to adulthood. A flexible econometric model is used to identify critical health periods with respect to temperature. It is shown that exposure to higher temperatures early in life has negative consequences on adult height. Most importantly, the effects are concentrated at the times where children experience growth spurts: infancy and adolescence. The robustness of these findings is confirmed when using health outcomes derived from accidents, which are uncorrelated with early exposure to high temperatures. |
| JEL: | I12 Q41 Q54 |
| Date: | 2014–01 |
| URL: | http://d.repec.org/n?u=RePEc:idb:wpaper:idb-wp-481&r=his |
| By: | Paresh K. Narayan (Centre for Financial Econometrics, School of Accounting, Economics and Finance, Deakin University, Australia); Nico Katzke (Department of Economics, University of Pretoria) |
| Abstract: | This paper contributes to the debate on the role of oil prices in predicting stock returns. The novelty of the paper is that it considers monthly time-series historical data that span over 150 years (1859:10-2013:12) and applies a predictive regression model that accommodates three salient features of the data, namely, a persistent and endogenous oil price, and model heteroskedasticity. Three key findings are unraveled: First, oil price predicts US stock returns. Second, in-sample evidence is corroborated by out-sample evidence of predictability. Third, both positive and negative oil price changes are important predictors of US stock returns, with negative changes relatively more important. Our results are robust to the use of different estimators and choice of in-sample periods. |
| Keywords: | Stock returns, Predictability, Oil price |
| JEL: | C22 E37 G17 Q43 |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:pre:wpaper:201446&r=his |
| By: | Henriques, Sofia Teives (Department of Business and Economics); Borowiecki, Karol Jan (Department of Business and Economics) |
| Abstract: | Fossil-fuel-related carbon dioxide emissions have risen dramatically since 1800. We identify the long-run drivers of CO2 emissions for a sample of twelve developed economies using an extended Kaya decomposition. By considering biomass and carbon-free energy sources along with fossil fuels we are able to shed light on the effects of past and present energy transitions on CO2 emissions. We find that at low levels of income per capita, fuel switching from biomass to fossil fuels is the main contributing factor to emission growth. Scale effects, especially income effects, become the most important emission drivers at higher levels of income and also dominate the overall long-run change. Technological change is the main offsetting factor. Particularly in the last decades, technological change and fuel switching have become important contributors to the decrease in emissions in Europe. Our results also individualize the different CO2 historical paths across parts of Europe, North America and Japan. |
| Keywords: | CO2 emissions; Kaya decomposition; Energy transition |
| JEL: | N70 O44 Q40 Q54 |
| Date: | 2014–08–25 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:sdueko:2014_013&r=his |
| By: | Essers, Dennis; Jacobs, Bert |
| Abstract: | When New York University Professor William Easterly released his best-seller The White Man’s Burden, it was described by Simon Maxwell, then director of think tank ODI, as the only book in a chain of recent works that dared to go against what he called ‘the inevitable social-democratic consensus… that aid is a worthwhile undertaking but could be better’ (Maxwell, 2007). The year was 2007 and the aid community was still head-in-clouds after the Paris Declaration on Aid Effectiveness had given it a new sense of direction and purpose. Cautious optimism about aid and other forms of external support for development was reflected in a series of critical but generally uplifting publications by the likes of Jeffrey Sachs (2005), Stephen Browne (2006) and Roger Riddell (2007), which shared their respective views on how to achieve greater aid effectiveness. |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:iob:apbrfs:2014003&r=his |
| By: | Cosma Orsi (Università della Svizzera Italiana) |
| Abstract: | The aim of this article is to describe the rise and fall of the workhouse system in connection with the developments that took place in economic thought, in the transition from Mercantilism to pre-classical and classical tradition. By examining the economic arguments emerging from the debate around the workhouse system, we shall focus on how ideas concerning wages, efficiency, labour market, workers' mobility, unemployment and human nature of the poor evolved throughout the period under scrutiny, trying to evaluate to what extent these views influenced the shaping of a new policy approach aimed at improving the effectiveness of the delivery of poor relief. |
| Keywords: | Poverty, Workhouses, Poor Law Reforms |
| JEL: | B11 B12 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:frz:wpaper:wp2014_13.rdf&r=his |
| By: | Tsangyao Chang; Hsiao-Ping Chu; Frederick W. Deale; Rangan Gupta |
| Abstract: | This study applies the bootstrap panel causality test proposed by Kónya (2006), which accounts for both dependency and heterogeneity across countries, to test the causal link between population growth and economic growth in 21 countries over the period of 1870-2013. With regards to the direction of population growth-economic growth nexus, we found one-way Granger causality running from population growth to economic growth for Finland, France, Portugal, and Sweden, one-way Granger causality running from economic growth to population growth for Canada, Germany, Japan, Norway and Switzerland, and no causal relationship between population growth and economic growth is found in Belgium, Brazil, Denmark, Netherlands, New Zealand, Spain, Sri Lanka, the UK, the USA and Uruguay. Furthermore, we found feedback between population growth and economic growth for Austria and Italy. Dividing the sample into two subsamples due to a structural break yielded different results in that for the first period of 1871-1951 we found that population growth Granger cause economic growth only for Finland and France, economic growth Granger cause population growth for Denmark, Japan, and Norway and that there is bidirectional causality between population growth and economic growth for both Austria and Italy. For the period of 1952-2013 we found that population growth Granger cause economic growth only for Sri Lanka, economic growth Granger cause population growth for Belgium, Denmark, France, Germany, New Zealand, Spain, Switzerland, and Uruguay and that found bidirectional causality between population growth and economic growth only for Japan. Our empirical results have important policy implications for these 21 countries under study as the directions of causality tend to differ across countries and depending on the time period under question. |
| Keywords: | Population Growth; Economic Growth; Dependency and Heterogeneity; Bootstrap Panel Causality Test |
| JEL: | C32 C33 O40 Q56 |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-477&r=his |
| By: | Fahmida Khatun; Debapriya Bhattacharya; Mustafizur Rahman |
| Abstract: | Given its political history and economic performance, Bangladesh emerges as an interesting case to study the nature of representation, extent of inclusiveness and degree of accountability of various actors in the process of designing and implementation of national development plans. While a number of country studies on the Poverty Reduction Strategy Paper (PRSP) process are available, literature and information on the above mentioned subject are rather scarce in Bangladesh, particularly from the perspectives of representation, accountability and inclusiveness. Based on structured interviews with a select group of relevant stakeholders including policymakers, members of the civil society and the development partners to generate the required additional information, the paper presents insights into the nature and extent of participation of the civil society organisations in the Bangladesh PRS exercise, and analyses the degrees of representation, accountability and inclusiveness achieved in the country’s PRS process. |
| Keywords: | Bangladesh, civil society, PRSP, democracy, CPD, TIB, Bangladesh Mahila Parishad |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:pdb:opaper:105&r=his |
| By: | Maria Cristina Marcuzzo (University of La Sapienza, Rome); Eleonora Sanfilippo (University of Cassino and Southern Lazio) |
| Keywords: | Keynes, speculation, commodity options, interwar financial markets |
| JEL: | B26 B31 N20 N50 |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2014-24&r=his |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics); Waldenström, Daniel (Uppsala Center for Fiscal Studies) |
| Abstract: | This paper studies the evolution of the modern Swedish inheritance taxation from its introduction in 1885 to its abolishment in 2004. Our contribution is twofold. First, we compute annual effective inheritance tax rates for differently sized bequests and different types of inherited assets (non-firm wealth and family firm equity), ac-counting for all relevant exemptions, deductions and valuation discounts. Second, we try to account for the changes in inheritance taxation. Ideology rather than mass mobili-zation or revenue maximization appears to drive the sharp tax increases of the 1930s through the 1960s. We document increased opportunities for tax planning for the wealthy, in particular a series of drastic tax cuts on inherited family firms from the 1970s onwards. This rise of avoidance opportunities for the rich, while more and more middle-class heirs paid notable inheritance taxes, contributed to a loss of legitimacy for the tax and its ultimate repeal in 2004 |
| Keywords: | Gift tax; Inheritance tax; Estate tax; Tax avoidance; Excess burden; Entre-preneurship; Ownership transfers of family firms |
| JEL: | D31 H20 K34 |
| Date: | 2014–07–06 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:uufswp:2014_009&r=his |
| By: | Diamond, Peter A. (Federal Reserve Bank of New York); Sahin, Aysegul (Federal Reserve Bank of New York) |
| Abstract: | This note puts the current shift in the Beveridge curve into context by examining the behavior of the curve since 1950. Outward shifts in the Beveridge curve have been common occurrences during U.S. recoveries. By itself, the presence of a shift has not been a good predictor of whether the unemployment rate at the end of the expansion following a shift was higher or lower than that in the preceding expansion. |
| Keywords: | Beveridge curve; unemployment; vacancies |
| JEL: | E24 J60 |
| Date: | 2014–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fednsr:687&r=his |
| By: | d'Alcantara, Gonzales; Dembinski, Paul H.; Pilley, Odile |
| Abstract: | Post offices, inherited from the Industrial Revolution, were monolithic telephone and postal administrations. They were intimately linked to the fabric of nations and made significant contributions to state finances. From the 1960s onwards, integrators, such as UPS and FEDEX, started offering end-to-end express services, thus challenging the postal monopoly in new high added value services. Gradually, the liberalization paradigm gained ground. Telecommunications and sometimes financial services were spun off from postal operations. More recently, new policies and priorities started to emerge especially on the development agenda where financial inclusion has become a top priority in the developing world. The question to be addressed is which role, if any, the posts play or could play in ensuring inclusion. Despite an exceptionally scarce research in the field, this paper provides an overview of how these shifts in paradigm have affected postal policy, the postal financial services regulatory framework, the status of the organizations delivering those services and the offerings themselves in developing as well as in developed countries. After a research review, including the regulatory dimension, the paper focuses on how postal financial services institutions in their legal framework have developed bringing to the fore a panorama of a dozen of promising transformations of financial postal services in developing countries. |
| Keywords: | development; financial inclusion; financial postal services; Universal Postal Union; telecommunications |
| JEL: | C65 H43 H55 Z18 |
| Date: | 2014–08–21 |
| URL: | http://d.repec.org/n?u=RePEc:fri:fribow:fribow00451&r=his |
| By: | Frederic Teulon |
| Abstract: | Robert Lucas est un économiste américain et un professeur de l'Université de Chicago. Sa recherche la plus connue sur le rôle des anticipations des agents a été publié dans un article de 1972 du Journal of Economic Theory. Il a reçu le prix Nobel en 1995 pour sa contribution au renouvellement de la théorie macroéconomique et à son étude de l'hypothèse d'anticipation rationnelle. |
| Keywords: | Anticipations rationnelles, Modèles macroéconomiques, Phillips (courbe de), Politiques économiques, Robert Lucas. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-567&r=his |
| By: | Frederic Teulon |
| Abstract: | Max Weber est avec Emile Durkheim le fondateur de la sociologie. Il a écrit des pages célèbres sur les classes sociales, le rôle de la religion protestante dans l’essor du capitalisme ou sur les modes de domination et d'autorité. |
| Keywords: | Capitalisme, Epistémologie, Légitimité, Max Weber. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-539&r=his |
| By: | Frederic Teulon |
| Abstract: | Milton Friedman (1912-2006) a été sans doute l’économiste le plus influent de la seconde partie du XXème siècle. Il reçoit en 1976 le prix Nobel d’économie pour ses travaux sur « l’analyse de la consommation, l’histoire monétaire et la démonstration de la complexité des politiques de stabilisation. » Son nom est associé au monétarisme, à l’Ecole de Chicago et à la priorité donnée à la lutte contre l’inflation. |
| Keywords: | Milton Friedman, Monétarisme, Politique monétaire, Taux de change flottants, Taux de chômage naturel. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-530&r=his |
| By: | Frederic Teulon |
| Abstract: | Ingénieur de formation, Maurice Allais mène conjointement des recherches en physique et en économie. Il reçoit en 1988 le prix Nobel d'économie pour sa contribution à la théorie des marchés et de l'utilisation efficiente des ressources (pour des travaux publiés dans les années 1940). Allais a combattu contre les idées reçues notamment dans le domaine des relations internationales et du commerce mondial. |
| Keywords: | Marchés, Maurice Allais, Monétarisme, Taux de change flottants. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-548&r=his |
| By: | Frédéric Teulon |
| Abstract: | L’augmentation durable des quantités produites est supposée bénéfique car elle améliore les possibilités d’achat de biens et de services, permet à des populations de sortir de la pauvreté et elle participe à l’amélioration du bienêtre. La première révolution industrielle a été précédée par une révolution agricole et le monde a connu plusieurs ruptures techniques notamment au début du XXe siècle avec l’utilisation de l’électricité et l’invention du moteur à explosion. Ces différentes révolutions ont été à l’origine d’une croissance de long terme. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-490&r=his |
| By: | Frederic Teulon |
| Abstract: | Robert Solow est un économiste américain, surtout connu pour la modélisation de la croissance économique qu’il a faite dans un article publié en 1956 (modèle dit de « croissance exogène »). Après des études à l’Université d’Harvard, il a effectué toute sa carrière au MIT. Solow a reçu le prix Nobel d’économie en 1987. Il est également connu pour les études qu’il a effectué sur l’évolution de la productivité aux Etats-Unis. |
| Keywords: | Croissance, Courbe de Phillips, Progrès technique, Robert Solow. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-554&r=his |
| By: | Frederic Teulon |
| Abstract: | Charles Kindleberger est un économiste, mais aussi un historien ; ses travaux croisent ces deux disciplines dans le cadre de l’étude des relations internationales et de la finance mondiale. La publication de Manias, Panics, and Crashes (1978) lui a donné une audience dépassant largement le cercle étroit des spécialistes. Son nom reste également attaché à l’idée selon laquelle le monde a besoin d’une stabilité hégémonique. |
| Keywords: | Biens collectifs mondiaux, Charles Kindleberger, Firmes multinationales, Termes de l’échange, Zones monétaires optimales. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-538&r=his |
| By: | Frederic Teulon |
| Abstract: | Paul Romer est un économiste américain et un chercheur à l’Université de New York. Il a contribué à l’approfondissement des analyses théoriques de la croissance économique. Sa thèse de doctorat (soutenue en 1983) a donné naissance à deux articles importants sur ce thème publié dans The Journal of Political Economy. L'analyse de Romer peut être présentée sous la forme du modèle AK |
| Keywords: | Capital humain, Croissance économique, Effets externes, Paul Romer, Progrès technique. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-563&r=his |
| By: | Frederic Teulon |
| Abstract: | Kenneth Arrow est un économiste américain connu pour avoir analysé mathématiquement à quelle condition un marché concurrentiel est un optimum (dans un article écrit en 1954 avec Gérard Debreu dans la revue Econometrica). C’est le fameux modèle « Arrow-Debreu ». Arrow a reçu le prix Nobel en 1972 pour sa contribution à la théorie générale de l'équilibre économique et la théorie du bien-être, mais il s’est intéressé à biens d’autres sujets : la discrimination, le fonctionnement du secteur de la santé… |
| Keywords: | Equilibre général, Innovation, Kenneth Arrow, Optimum, Paradoxe de Condorcet. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-457&r=his |
| By: | Lafrance, Amelie; Macdonald, Ryan |
| Abstract: | Le present rapport presente une comparaison de la valeur nette des menages par habitant au Canada et aux Etats Unis de 1970 a 2012, basee sur des donnees provenant des comptes du bilan national du Canada et des mouvements de fonds (Flow of Funds Accounts) publies par la Reserve federale americaine. Trois approches sont utilisees a cette fin. La premiere consiste en une comparaison des niveaux a partir de valeurs rajustees en fonction de la parite de pouvoir d?achat (PPA). La deuxieme fait appel a des ratios de la valeur nette reelle par habitant et de la valeur nette au revenu disponible. Dans la troisieme approche, on decompose la croissance du ratio de la valeur nette au revenu disponible. Ensemble, ces approches produisent des resultats qui se confortent mutuellement et qui sont plus robustes que ceux pouvant etre obtenus au moyen d?une seule approche. |
| Keywords: | Data analysis, Economic accounts, Intercity and international price comparisons, Prices and price indexes, Statistical methods |
| Date: | 2014–08–20 |
| URL: | http://d.repec.org/n?u=RePEc:stc:stcp5f:2014094f&r=his |
| By: | Frederic Teulon |
| Abstract: | This article investigates why the French Business schools have in recent years adopted |
| Keywords: | Business schools, Entrepreneurship and growth, Firm growth, Grounded theory, |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-520&r=his |
| By: | Frederic Teulon |
| Abstract: | Gary Becker est un économiste néoclassique qui s’est intéressé à des sujets relevant habituellement du domaine de la sociologie. Il a appliqué au crime, à la délinquance, à la famille… les outils de la microéconomie (utilité, optimisation sous contrainte, courbes d’indifférence, offre et demande…). Becker montre notamment que les criminels agissent de manière rationnelle. Il est un des pères fondateurs (avec Jacob Mincer et Theodore Schultz) de l’analyse en termes de capital humain. |
| Keywords: | Capital humain, Economie de la famille, Théorie du choix rationnel (TCR). |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-521&r=his |
| By: | Frederic Teulon |
| Abstract: | Finn Kydland est un représentant de la « nouvelle macroéconomie classique ». Kydland a mené des recherches sur l’incohérence temporelle (time inconsistency). Il a reçu les prix Nobel d’économie 2004 pour des contributions originales relatives aux cycles des affaires et à la cohérence des politiques économiques. Kydland se fait connaître en publiant (avec Edward Prescott) en 1977 son fameux article intitulé « rules-vsdiscretion », puis un second article en 1982 sur les cycles réels.. |
| Keywords: | Anticipations rationnelles, Chocs de productivité, Crédibilité, Cycles réels (RBC theory), Finn Kydland. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-463&r=his |
| By: | Frederic Teulon |
| Abstract: | François Simiand est un économiste, historien et sociologue français. Il a cherché à appliquer à l’analyse des faits économiques les principes méthodologiques présentés par le sociologue Emile Durkheim dans son ouvrage les Règles de la méthode sociologique. Simiand a tenté de positionner l’économie dans l’histoire, sa méthode repose sur l’étude des faits et l’usage des statistiques. Il a mené un combat contre l’approche hypothético-déductive des économistes néoclassiques. |
| Keywords: | François Simiand, Monnaie, Salaires |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-543&r=his |
| By: | Frederic Teulon |
| Abstract: | L’économiste Keynes a marqué le XXe siècle de son empreinte. Son nom reste associé à la réhabilitation du rôle de l’Etat dans la conduite de la politique conjoncturelle. Il se fait connaître du grand public en 1919 avec la publication de son ouvrage sur les conséquences économiques de la paix. Suivent plusieurs oeuvres majeures qui vont marquer l’histoire de la pensée économique et les politiques publiques sur plusieurs décennies. Conseiller de plusieurs gouvernements, Keynes s’efforce d’influer sur l’issue de la conférence de Bretton Woods en proposant un plan de refonte du système monétaire international. Son influence atteint son apogée à la fin des années 1960. |
| Keywords: | Analyse keynésienne, Politique économique, Inde, Etalon-or, modèles DSGE (Dynamic Stochastics General Equilibrium) |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-498&r=his |
| By: | Frederic Teulon |
| Abstract: | Friedrich Hayek est un économiste autrichien partisan du « laissez faire ». Il dénonce les politiques visant à élargir la distribution de crédit et à planifier l’activité économique. Il a reçu le prix Nobel en 1974 pour ses travaux pionniers relatifs à la théorie de la monnaie et des fluctuations économiques. Hayek a été un ardent défenseur de l’économie de marché et de la société libérale. |
| Keywords: | Friedrich Hayek, Libéralisme, Structure productive. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-493&r=his |
| By: | Frederic Teulon |
| Abstract: | Georg Simmel est un des auteurs les plus importants, avec Max Weber, de la sociologie allemande classique (celle du début du XXe siècle), ces deux pères fondateurs ayant sur bien des sujets des points de vue analogues. Simmel est à l’origine du développement de la « sociologie formelle », il est également à l’origine de l’apparition de la psychologie sociale. Ses analyses sur le rôle des conflits ont fait date. |
| Keywords: | Conflit, Georg Simmel, Monnaie, Pauvreté. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-555&r=his |
| By: | Frederic Teulon |
| Abstract: | John Rawls est un des penseurs américains les plus importants du XXe siècle. Pour lui, les sentiments de légitimité suscités par les inégalités peuvent être déterminés uniquement à partir de la manière dont les biens sont distribués (approche universaliste). En publiant en 1971 l’ouvrage A Theory of Justice, Rawls devient la référence principale de la philosophie morale dans le monde anglo-saxon. L’originalité de sa pensée a été unanimement louée, mais le contenu de ses analyses a été fortement critiqué. En cherchant à se placer d’un point de vue impartial et à donner au libéralisme des principes plus sociaux et plus équitables, Rawls a suscité un vaste débat sur les moyens et la légitimité des politiques visant à réduire les inégalités. Ses écrits ont été fortement influencés par la lecture des oeuvres des « contractualistes » européens Locke, Rousseau et Kant. |
| Keywords: | Inégalités, Justice distributive, Libéralisme, Position originelle. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-525&r=his |
| By: | Frédéric Teulon |
| Abstract: | L’intégration des TIC dans les organisations s’est effectuée depuis le début des années 1970 à un rythme rapide, mais dans la plupart des entreprises, l’organisation du travail n’a pas évolué au même rythme. Le principal objectif de cet article est de synthétiser la littérature relative à la transformation de l’organisation du travail sous l’impact des TIC. L’examen de cette littérature met en avant plusieurs lignes directrices: les changements organisationnels sont biaisés au détriment du travail peu qualifié, avec les TIC les entreprises se structurent autour des réseaux d’information, les organisations s’efforcent de contrôler leur image sur les réseaux sociaux. |
| Keywords: | Technologies de l’information, Progrès technique, Equipes virtuelles, Réseaux, Post-fordisme. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-489&r=his |
| By: | Frederic Teulon |
| Abstract: | Paul Samuelson est un économiste américain, membre de l’école keynésienne (courant dit de la «synthèse »). Auteur généraliste et prolifique, il a écrit sur presque tous les sujets. Il a reçu le prix Nobel d’économie en 1970, notamment pour ses analyses novatrices sur les échanges internationaux. |
| Keywords: | Commerce international, Courbe de Phillips, HOS, Paul Samuelson, Systèmes de retraite.. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-560&r=his |
| By: | Frederic Teulon |
| Abstract: | L’économie et les sciences sociales utilisent fréquemment la notion de rationalité, les travaux |
| Keywords: | Behaviorisme, Herbert Simon, Psychologie, Rationalité limitée. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-527&r=his |
| By: | Frederic Teulon |
| Abstract: | Albert Hirschman est un économiste américain hétérodoxe et difficilement classable. Il se situe totalement en dehors du courant de pensée dominant (néoclassique). Il a développé des travaux de recherche non mathématisés, basés en partie sur des expériences de terrain notamment en Amérique latine. Son modèle Exit, Voice and Loyalty est devenu une référence permettant de mieux comprendre le fonctionnement des marchés. |
| Keywords: | Albert Hirschman, Concurrence, Développement économique. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-478&r=his |
| By: | Frederic Teulon |
| Abstract: | Robert Mundell est un spécialiste d’économie internationale et de l’étude des mouvements de capitaux. Il a reçu le prix Nobel d’économie en 1999 pour ses travaux sur les politiques monétaires et budgétaires dans les économies ouvertes. Mundell est un des pères fondateurs de la théorie des zones monétaires optimales qui permet de porter un jugement sur l’opportunité des regroupements monétaires entre plusieurs pays. |
| Keywords: | Choc asymétrique, Modèle IS-LM-BP, Robert Mundell, Zones monétaires optimales. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-534&r=his |
| By: | Frederic Teulon |
| Abstract: | Joseph Stiglitz est un économiste américain non conformiste et iconoclaste. Il appartient au courant keynésien. Il a reçu le prix Nobel en 2001 (avec George Akerlof et Michael Spence) pour ses travaux sur les « asymétries d’information » et les phénomènes d’antisélection. Stiglitz a remis en cause l’efficience des marchés en matière d’allocation des ressources. Il a porté des jugements sévères sur le fonctionnement des organisations internationales. |
| Keywords: | Asymétries d’information, Mondialisation, Joseph Stiglitz, Salaire d’efficience, Screening. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-559&r=his |
| By: | Ouidad YOUSFI |
| Abstract: | The current paper analyzes similarities and differences between conventional and Islamic private equity (PE). Despite the financial subprime crisis and the lack of liquidities in financial markets, PE still play an important role in financing growing unlisted firms all over the world. However, conventional PE and Islamic PE display different features. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-487&r=his |
| By: | Frederic Teulon |
| Abstract: | Economiste américain, Paul Krugman a reçu le prix Nobel 2008 pour avoir analysé « les effets des économies d'échelle sur les modèles du commerce international et la localisation de l'activité économique ». Les nouvelles théories du commerce international qui justifient la mise en oeuvre de politiques commerciales dites « stratégiques » remettent en cause le caractère optimal du libreéchange généralisé. |
| Keywords: | Commerce international, Localisation des firmes, Paul Krugman, Politique industrielle. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-550&r=his |
| By: | Frederic Teulon |
| Abstract: | Amartya Sen est un économiste connu pour ses travaux sur le développement humain et l’économie du bien-être. Il est à l’origine de l’approche fondée sur les « capabilités » et de la construction de l’Indicateur de Développement Humain (IDH) qui permet de collecter des données statistiques essentielles pour améliorer le sort des pauvres. |
| Keywords: | Bien-être, choix collectifs, IDH, Politique publique, Théorème d’impossibilité d’Arrow. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-512&r=his |
| By: | Dominique Bonet Fernandez; Bruno-Laurent Moschetto; Frédéric Teulon |
| Abstract: | L’entrepreneuriat est une source de richesses et d’emplois. On devient entrepreneur par la création d’une nouvelle entreprise, mais aussi par la reprise d’entreprises qui existent déjà. La question de la transmission des PME n’est pas toujours perçue comme un sujet prioritaire. Cette question a fait l’objet d’une littérature que nous présentons ici. |
| Keywords: | Entrepreneuriat, cession d’entreprise, PME. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-519&r=his |
| By: | Frédéric Teulon |
| Abstract: | Pierre Bourdieu est un des sociologues et intellectuels français les plus importants du XXe siècle. Il a fondé une école à laquelle plusieurs sociologues de premier plan se rattachent. Ses travaux nombreux et divers nous interpellent. Son oeuvre porte avant tout sur le pouvoir et comment celui-ci contribue à maintenir l’ordre social. Elle a une portée générale qui devrait concerner plus directement les économistes, les spécialistes des organisations, du marketing ou du management. |
| Keywords: | Sociologie de l’éducation, Algérie, Discriminations, Habitus culturel, Inégalités, Pouvoir, Violence symbolique. |
| Date: | 2014–08–29 |
| URL: | http://d.repec.org/n?u=RePEc:ipg:wpaper:2014-497&r=his |