nep-his New Economics Papers
on Business, Economic and Financial History
Issue of 2017‒09‒10
23 papers chosen by

  1. The Failure of a Clearinghouse:Empirical Evidence By Vincent Bignon; Guillaume Vuillemey
  2. A Primer on Social Knowledge By Chatterjee, Sidharta
  3. Early Childhood Health Shocks and Adult Wellbeing: Evidence from Wartime Britain By Jeffrey C. Schiman; Robert Kaestner; Anthony T. Lo Sasso
  4. Quelques reflexion sur l'histoire de la pensée managériale en France By Cédric Poivret
  5. Is law normalizing Hybrid Organizations? Putting profit-with-purpose corporations into historical perspective By Kevin Levillain; Blanche Segrestin; Armand Hatchuel
  6. A Long-Run Perspective on the Spatial Concentration of Manufacturing Industries in the United States By Crafts, Nicholas; Klein, Alex
  7. Impacts Démographiques des Crises Africaines: Une perspective historique. By Michel Garenne
  8. Albert O. Hirschman ou le mouvement perpétuel de l'apprenant. A propos du livre de Cyrille Ferraton et Ludovic Frobert, "Introduction à Albert O. Hirschman". By Julien Vercueil
  9. Upgrading a tourism cluster: The case of Eilat By Benner, Maximilian; Michael, Dollinger; Elisa, Gliesner; Rouven, Pelz
  10. La grande crise des années trente By Pierre Dockès
  11. Market Structure and Innovation Policies in France By Matthieu Lardeau
  12. The Role of Structural Transformation in Regional Convergence in Japan: 1874-2008 By Fukao, Kyoji; Paul, Saumik
  13. Regional GDP estimates for Sweden, 1571-1850 By Enflo, Kerstin; Missiaia, Anna
  14. Cities of Commerce: how can we test the hypothesis? By Guillaume Daudin
  16. Microfinance - once and today By Schmidt, Reinhard H.
  17. Lending without creditor rights, collateral, or reputation : The “trusted assistant” loan in 19th century China By Miao, Meng; Guanjie, Niu; Noe, Thomas
  18. Making sense of the plurality of money: a polanyian attempt By Jérôme Blanc
  19. The Wealth of the Richest: Inequality and the Nobility in Sweden, 1750–1900 By Bengtsson, Erik; Missiaia, Anna; Olsson, Mats; Svensson, Patrick
  21. La performativité des théories managériales By Jean-Luc Moriceau
  22. French Planning: How to cope with Business Cycles? By Alain Alcouffe
  23. The Rise and Fall of U.S. Low-Skilled Immigration By Gordon Hanson; Chen Liu; Craig McIntosh

  1. By: Vincent Bignon; Guillaume Vuillemey
    Abstract: We provide the first detailed empirical analysis of the failure of a derivatives clearinghouse: the Caisse de Liquidation, which defaulted in Paris in 1974. Using archival data, we find three main causes of the failure: (i) a weak pool of investors, (ii) the inability to contain the growth of a large member position, and (iii) risk-shifting decisions by the clearinghouse. Risk-shifting incentives aligned the clearinghouse’s interests with those of the defaulting member, induced delays in the liquidation of the defaulted position, and led private renegotiation attempts to fail. Our results have implications for the design of clearing institutions.
    Keywords: Derivatives, central clearing, central counterparties.
    JEL: G23 G28 N24
    Date: 2017
  2. By: Chatterjee, Sidharta
    Abstract: The purpose of this study is to elucidate and appreciate the growing importance of social knowledge in economic systems. It is thoroughly evident that socially available information as a variable is being employed in economic modeling—and, social concepts and principles are being increasingly employed to model economic systems. Despite the growing importance of social elements in economic theory and modeling, there appears to be a general lack of appreciation and understanding effected by fallacy of about what constitutes social knowledge in particular, and social information in general, and then, why there should be social elements included in economic systems. The goal of this paper, therefore, is to undertake a formal analysis of the theory of social knowledge based on Kenneth Arrow's (1994) paper, and to explain why this is so relevant in modern economic systems. This study, therefore, attempts to demonstrate understanding of the concept of social knowledge in its present context—the digital age, with the aim of advancing knowledge in this field. Finally, the study also provides general knowledge about the subject of social knowledge in the context of economic growth.
    Keywords: Social knowledge, knowledge externalities, social information, innovation
    JEL: Z13
    Date: 2017–08–31
  3. By: Jeffrey C. Schiman; Robert Kaestner; Anthony T. Lo Sasso
    Abstract: A growing literature argues that early environments affecting childhood health may influence significantly later-life health and financial wellbeing. We present new evidence on the relationship between child health and later-life outcomes using variation in infant mortality in England and Wales at the onset of World War II. Using data from the British Household Panel Survey, we exploit the variation in infant mortality across birth cohorts and region to estimate the associations between infant mortality and adult outcomes such as disability and employment. Our findings suggest that higher infant mortality is significantly associated with higher likelihood of disability, a lower probability of employment, and less earned income.
    JEL: I15 N3
    Date: 2017–08
  4. By: Cédric Poivret (IRG - Institut de Recherche en Gestion - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12)
    Abstract: En France, les sciences de gestion, en comparaison avec les autres sciences sociales, n'ont pas développé de recherche bien établie concernant l'histoire française de leur discipline. Dans cette communication, nous essayons de démontrer cette faiblesse –qui n'a pas empêché la réalisation d'un certain nombre de travaux de qualité-, et de trouver des éléments d'explication.
    Keywords: Histoire de la pensée managaériale
    Date: 2017–03–23
  5. By: Kevin Levillain (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Blanche Segrestin (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Armand Hatchuel (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique)
    Abstract: Among other challenges, hybrid organizations face a legal one as the law divides organizations into nonprofit and for-profit structures. For a few years however, new legal forms of corporations have emerged, whose claim is to overcome this challenge: profit-with-purpose corporations (PPCs), such as the Benefit Corporation. In this paper, we investigate how these innovative legal provisions have been designed to help solving this legal challenge, in a two-step process. First, we reexamine the origins of the legal divide through an historical analysis of the separation of UK and US corporations into two legal categories. We show that although early corporations were, in essence, profit-with-purpose organizations, business corporations have difficulties today to defend a public interest orientation because of a major shift in corporate governance that occurred in the 19 th century: the disappearance of corporate charters demanding public interest purposes, which led to hand the control of corporations over to shareholders through the generalization of fiduciary duties imported from unincorporated businesses' governance. Second, we exhibit the design process of PPCs to help solving this divide. We show that PPCs propose a way to " shift back ", yet not by restoring control by the State, but by reintroducing the corporate purpose into legal documents, and designing accountability mechanisms to control multiple purposes. We argue that studying the emergence of legal structures for profit-with-purpose organizations may open new avenues for research on hybrid organizations.
    Keywords: Profit-with-purpose Corporations,Hybrid organizations,Corporate law
    Date: 2017–06
  6. By: Crafts, Nicholas; Klein, Alex
    Abstract: We construct spatially-weighted indices of the geographic concentration of U.S. manufacturing industries during the period 1880 to 1997 using data from the Census of Manufactures and the Bureau of Labor Statistics. Several important new results emerge from this exercise. First, we find that average spatial concentration was much lower in the late-20th- than the late-19th century and that this was the outcome of a continuing reduction over time. Second, the persistent tendency to greater spatial dispersion was characteristic of most manufacturing industries. Third, even so, economically and statistically significant spatial concentration was pervasive throughout this period.
    Keywords: manufacturing belt; spatial concentration; transport costs
    JEL: N62 N92 R12
    Date: 2017–08
  7. By: Michel Garenne (Faculty of Health Sciences - University of the Witwaterstrand, FERDI - Fondation pour les Etudes et Recherches sur le Développement International - FERDI, Epidémiologie des Maladies Emergentes - Institut Pasteur [Paris] - CNAM - Conservatoire National des Arts et Métiers [CNAM])
    Abstract: L’étude présente divers cas d’impacts démographiques et sanitaires des grandes crises économiques, politiques, épidémiologiques et climatiques qui se sont produites en Afrique sub-Saharienne depuis 1960. Les paramètres étudiés sont la mortalité de l’enfant, la fécondité des femmes, l’urbanisation, le niveau d’instruction des adultes, la nuptialité, et la taille adulte des femmes. Les données proviennent pour l’essentiel des enquêtes démographiques et sanitaires (DHS surveys). L’approche est une perspective historique, et les évolutions africaines sont replacées dans le cadre des évolutions correspondantes de l’Europe au 19ème et 20ème siècle. Les diverses crises africaines, très particulières, ont en effet induit des inversions de tendance des paramètres étudiés: hausse inattendue de la mortalité (11 pays), baisse inattendue de la fécondité (2 pays), perturbations de l’urbanisation (2 pays), baisse du niveau d’instruction (2 pays), et baisse de l’âge au mariage (2 pays). Certains pays en crise sévère ont cumulé les handicaps, en particulier Madagascar, le Rwanda, et la Zambie. Pour ce qui concerne l’anthropométrie, c’est la majorité des pays qui ont été touchés par la réduction de la taille des adultes, hormis les pays les plus riches d’Afrique australe et les pays du Sahel moins vulnérables à ce risque. Pour ce qui concerne la nuptialité, il convient d’ajouter les énormes changements qui se sont produits ces dernières décennies en Afrique australe, dus à une profonde crise sociale.
    Keywords: Niveau d'instruction,Urbanisation,Tendances,Démographie,Afrique Sub-saharienne,Crise économique,Epidémie,Changement climatique,Choc externe,Résilience,Mortalité,Fécondité,Age au mariage,Anthropométrie,Taille adulte,Récession,Crise politique,VIH/Sida
    Date: 2017–07–01
  8. By: Julien Vercueil (Inalco - Institut National des Langues et Civilisations Orientales)
    Abstract: La pensée complexe d'Albert O. Hirschman forme-t-elle un tout cohérent ? Que peut-on apprendre de ses éventuelles contradictions ? Que dit cette pensée du parcours d’un homme dans son siècle, qui de 1915 à 2012 a certes traversé les époques, les mers et les continents, mais aussi les frontières plus métaphoriques mais souvent épaisses qui séparent l’hétérodoxie de la théorie standard, l’économie de la sociologie, l’épistémologie de l’économie appliquée ? En définitive, quel est son héritage ? Le mérite de ce nouvel opus de Cyrille Ferraton et Ludovic Frobert est de restituer sous une forme à la fois ramassée et accessible – celle, aussi, d’une introduction, revendiquée comme telle - la pensée d’A.O. Hirschman dans sa diversité.
    Keywords: Hirschman
    Date: 2017–07–01
  9. By: Benner, Maximilian; Michael, Dollinger; Elisa, Gliesner; Rouven, Pelz
    Abstract: Tourism clusters have attracted a good deal of attention in literature, probably due to the fact that (mass) tourism exhibits a strong tendency to agglomerate. A major challenge for many tourism clusters is how to upgrade their competitiveness in the wake of market change. While the 1950s and 1960s saw the rise of standardized mass tourism particularly in Mediterranean countries, driven by the Keynesian welfare state and Fordist paradigm as well as rising wealth in European markets, since the late 1970s a more differentiated and individualized pattern of tourism demand has emerged. Since then, tourists’ preferences have become much more diverse and led to a roll-back of the previously dominant form of standardized, deterritorialized mass (package) tourism. This diversity is somewhat reminiscent of the notion of flexible specialization known from the literature on industrial change. In the wake of these changes, tourism clusters that came into being during the age of Fordist mass tourism have to devise strategies to differentiate their offer and to adapt their product to new market demands. Eilat in Israel is one of those tourism clusters that exhibit salient features of Fordist mass tourism struggling to find their place in a more differentiated international tourism market. This study takes a look at the structure of the Eilat tourism cluster and suggests a trajectory towards differentiation and upgrading to enhance Eilat’s long-term competitiveness as an international tourist destination.
    Keywords: tourism; tourism development; upgrading; regional development; Eilat; Israel
    JEL: L83 R58
    Date: 2017–09–06
  10. By: Pierre Dockès (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet [Saint-Etienne] - Institut d'Études Politiques [IEP] - Lyon - CNRS - Centre National de la Recherche Scientifique)
    Abstract: La crise des années trente est une catastrophe unique. Jamais auparavant et jamais depuis, le monde n'a connu une telle crise par sa profondeur, par son extension mondiale, par sa durée. Elle n'a donc pas sa place dans une théorie ou une rétrospective du cycle des affaires classique, ni même seulement des "grandes crises". Au-delà des erreurs commises, des péripéties, des crises particulières (boursière, bancaire), des allers-retours des crises internationales, pour comprendre en profondeur une telle catastrophe, il faut faire intervenir le rythme long du renouvellement des ordres productifs, une "grande crise" caractéristique d’un temps où l’ordre productif meure tandis que le nouveau ne peut émerger. Mais, même à ce niveau, en la comparant à d’autres crises du même genre, elle reste extraordinaire. Il n’est pas interdit de la penser, à la manière de Schumpeter, comme la conjonction d’une dépression classique de type Juglar, du retournement d’un cycle Kondratiev, voire du retournement d’une vague séculaire.
    Keywords: Guerre,Front populaire,Capitalisme,Déflation,New Deal,Krach boursier,étalon-or,Années 1930,Crise,Crise économique 1929
    Date: 2017
  11. By: Matthieu Lardeau (CRCGM - Centre de Recherche Clermontois en Gestion et Management - UdA - Université d'Auvergne - Clermont-Ferrand I - École Supérieure de Commerce (ESC) - Clermont-Ferrand)
    Abstract: The news media industry in France has a long tradition. Le Mercure Franc¸ois is known as the first news review. It started to appear in 1611. In 1631, The´ophraste Renaudot launched the first periodical paper, La Gazette. The first daily newspaper appeared in 1777: Le Journal de Paris. In 1830s, France became known as one of the three pioneers of the modern daily press in Europe. At that time, the newspaper industry was very innovative. For instance, the French penny press based on a new business model was introduced by journalist entrepreneurs Emile de Girardin and Armand Dutacq. They founded La Presse and Le Sie`cle in June and July 1836 respectively. These mass newspapers offered a content mixing news, romanfeuilleton and commercials. Due to the mass production, they could offer a lower subscription price (Eveno, 2003). In 1863, Moı¨se Millaud launched Le Petit Journal. It used an innovative business model based on the use of modern printing machine (de la Motte and Przyblyski, 1999). In the turmoil after World War II (1944–1947), the evolution of the printed press was influenced by the intervention of the French government. The government decided to set conditions on the structure of the newspaper market with strong constraints. Although France played an important role in the development of the press and freedom of the press for centuries, it does not have a leading position anymore. France is ranked 38th in the world regarding the press freedom index (Reporters Sans Frontières, 2015). The main reason for this position is that France does not provide effective protection for the confidentiality of journalists’ sources
    Keywords: media innovation, regulations, media ownership, innovation, newspaper,France
    Date: 2017
  12. By: Fukao, Kyoji; Paul, Saumik
    Abstract: Extending the literature on productivity convergence to a multi-sector growth framework, we show that σ-convergence in regional productivity growth can be decomposed into σ-convergence in sectoral productivity growth and σ - convergence in structural transformation-led productivity growth. Empirical support is provided using novel historical datasets at the Japanese prefecture level from 1874 to 2008. In pre-war Japan (1874–1940), regional convergence was primarily driven by productivity growth in the secondary sector. The rapid productivity convergence within the secondary and tertiary sectors relative to that in the primary sector between 1890 and 1940 provided an important base for the large convergence effects of structural transformation in the post-war years through a larger sectoral productivity gap in the lagging regions compared to the leading regions. However, the pace of regional convergence gradually slowed down and since the early 1970s the σ -convergence of structural transformation has been offset by the σ-divergence of within-sector productivity growth and vice versa, thwarting the pace of convergence in aggregate productivity.
    Keywords: Structural transformation, Labor productivity, Regional convergence, Japan
    JEL: O40 O10
    Date: 2017–09
  13. By: Enflo, Kerstin (Department of Economic History, Lund University); Missiaia, Anna (Department of Economic History, Lund University)
    Abstract: This paper provides regional GDP estimates for the 24 Swedish regions (NUTS-3) for the benchmark year 1571 and for 11 ten-year benchmarks for the period 1750-1850. The 1571 estimates are based on tax sources and agricultural statistics. The 1750-1850 estimates are produced following the widely used methodology by Geary and Stark (2002): labour force figures from population censuses at regional level are used to allocate to regions the national estimates of agriculture, industry and services while wages are used to correct for productivity differentials. By connecting our series to the existing ones by Enflo et al. (2014) for the period 1860-2010, we are able to produce the longest set of regional GDP series to date for any single country.
    Keywords: regional GDP; Sweden; long-run regional inequality; pre-industrial regional development
    JEL: N01 N13 N93
    Date: 2017–06–04
  14. By: Guillaume Daudin (LEDa - Laboratoire d'Economie de Dauphine - Université Paris-Dauphine)
    Abstract: This paper discusses Gelderblom’s hypothesis that urban competition (including a large number of competing cities, footloose foreign traders and municipal autonomy) was central to the rise of inclusive trade institutions in Europe. The first part discusses the precise behaviour of traders, town authorities and sovereigns underlying Gelderblom’s explanatory framework. The second part presents some challenges to the generalisation of the book’s thesis to the history of Europe, including Italy and Britain. The last part advances a short econometric exercise to check this generalisation. Urban competition combined with starting institutional quality does not emerge as a positive factor for the growth of European cities in general: this is interpreted as a call for more research rather a decisive counter-argument.
    Abstract: Cet article discute l’hypothèse de Gelerblom selon laquelle la compétition urbaine (incluant un grand nombre de villes concurrentes entre elles, des négociants se déplaçant facilement, et l’autonomie urbaine) a été centrale pour la généralisation d’institutions de commerce ouvertes à tous en Europe. La première partie examine le comportement précis des négociants, autorités municipales et souverains qui sont au coeur du schéma explicatif de Gelderblom. La deuxième partie présente quelques difficultés qui s’opposent à la généralisation de la thèse de l’ouvrage à l’ensemble de l’histoire européenne, notamment en Italie et en Grande-Bretagne. La dernière partie propose un petit exercice économétrique pour tester cette généralisation. La compétition urbaine combinée à des institutions de bonne qualité n’apparaît pas comme un facteur de croissance pour les villes urbaines dans leur ensemble : ce résultat est interprété plus comme un appel à plus de recherche qu’un contre-argument décisif.
    Keywords: urbanisation,modern history,Europe,institutions
    Date: 2017–03–24
  15. By: Sonia Benghida (Woosong University)
    Abstract: After the discovery of oil in the Norwegian coast, many uncertainties were raised in the public administration and environmentalists but Farouk Al-Kasim came up with innovative ideas on how to handle the present and future of the oil industry. Farouk Al-Kasim is considered as one of the fathers of the Norwegian oil model; a rare example of good governance among the major oil-producing countries. The Norwegian model has to take accountability on first, the expertise of Farouk Al-Kasim, second, the state's institutional capacity and third, the political stability and government transparency. This article focuses on how Norway managerial structure could affect the state's economy, and refers to the oil market of Norway. It also shows how Norway success depends on its initial institutions and a package of innovative and sustainable strategies. The paper concludes that good governance has been affecting the economic and political equilibrium of Norway economy. This article describes how the policy and management decisions taken in the past have a great impact on the present and are expected to positively affect the future equilibrium of Norway.
    Keywords: Sustainable solutions, Technological innovation,Norwegian oil model, Farouk Al-Kasim, Oil management, Statoil, Oil exploration
    Date: 2017–04–30
  16. By: Schmidt, Reinhard H.
    Abstract: The German savings and cooperative banks of the 19th century were precursors of modern microfinance. They provided access to financial services for the majority of the German population, which was formerly excluded from bank funding. Furthermore, they did this at low costs for themselves and affordable prices for their clients. By creating networks of financially viable and stable financial institutions covering the entire country, they contributed significantly to building a sound and "inclusive" financial infrastructure in Germany. A look back at the history of German savings and cooperative banks and combining these experiences with the lessons learned from modern microfinance can guide current policy and be valuable for present and future models of microfinance business.
    Keywords: Microfinance,German savings banks,German cooperative banks,Inclusive Finance
    Date: 2017
  17. By: Miao, Meng; Guanjie, Niu; Noe, Thomas
    Abstract: This paper considers lending to finance projects in a setting where repayment enforcement appears impossible. The loan was illegal and thus legally unenforceable. Creditors were incapable of applying private coercion to force repayment. Borrowers lacked both collateral and reputation capital. Project cash flows were unobservable. The projects were the acquisition of Imperial administrative posts by scholars in nineteenth century Qing China. The lending mechanism was the “trusted-assistant loan.” Our model of trusted-assistant lending shows that it is a renegotiation-proof implementation of efficient state dependent financing. Empirical analysis of officials’ diaries and bank records shows that the employment of trusted-assistant lending and the performance of trusted-assistant loans conforms roughly with the model’s predictions.
    JEL: N25 G21 D86
    Date: 2017–08–29
  18. By: Jérôme Blanc (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet [Saint-Etienne] - Institut d'Études Politiques [IEP] - Lyon - CNRS - Centre National de la Recherche Scientifique)
    Abstract: This paper aims at accounting for the dramatic plurality of money through the discussion of a conceptual framework built on Polanyian writings. Three ideal types are built: public money, business money and associative money. This typology is enriched by Polanyian concepts, which are discussed and adapted for this purpose: first, the distinction between all-purpose money and special-purpose money; second, his distinction between three or four forms of integration, here called exchange, redistribution, reciprocity and communal sharing. The whole helps understanding the complexity of real cases, starting with our ordinary money, and especially emphasizing the contemporary diversity of associative moneys.
    Keywords: Plurality of money,modern money,ideal types,Polanyi,forms of integration
    Date: 2017–06–29
  19. By: Bengtsson, Erik (Department of Economic History, Lund University); Missiaia, Anna (Department of Economic History, Lund University); Olsson, Mats (Department of Economic History, Lund University); Svensson, Patrick (Department of Economic History, Lund University)
    Abstract: The role of the European nobility and their ability to retain their political and economic power are part of the debate on the modernization of the European economy. This paper contributes to the literature by exploring the wealth of the Swedish nobility as Sweden evolved from an agrarian to an industrial economy. We use a sample of 200+ probate inventories of nobles for each of the benchmark years 1750, 1800, 1850 and 1900. Medieval and early modern Sweden often has been described as not fully feudal. In line with this, and the (perceived) comparative strength of the peasantry, the nobility is assumed to have been comparatively unimportant and less economically dominant than elsewhere in Europe. We show that the nobility, less than 0.5 per cent of the population, was very dominant in 1750: the average noble was 60 times richer than the average person, and the nobles held 29 per cent of private wealth while 90 per cent of the nobles were richer than the average person. In 1900 the nobles’ advantage had decreased but the stratification within the nobility had increased dramatically. There was a group of super-rich nobles, often large land owners from the high nobility, who possessed the biggest fortunes in Sweden. But there was also a large minority who were not richer than the average Swede. The overall wealth advantage of the nobles, however, hints at that while not all nobles were economically upper class in 1900, most of the upper class were nobles.
    Keywords: inequality; wealth; Sweden; nobility; economic stratification; social groups
    JEL: N33
    Date: 2017–05–31
  20. By: Safaa Tabit (Université Mohammed 5 Agdal); Charaf-Eddine Moussir (Université Mohammed 5 Agdal)
    Abstract: This paper aims to analyze the impact of MRA's remittances on economic growth by using two models VAR and ECM over the period 1975-2014. The results conclude that MRA's remittances represent a determinant of economic growth, in the short term, with an elasticity low compared to the long-term behavior. Given the impulse responses analysis, a shock on MRA's transfers has a positive impact on GDP, investment and consumption.
    Keywords: Economic growth,Remittances,VAR,Error correction model,Moroccans resident abroad
    Date: 2017
  21. By: Jean-Luc Moriceau (DEFIS - Droit, Economie, Finances et Sociologie - TEM - Télécom Ecole de Management - Institut Mines-Télécom [Paris])
    Abstract: La performativité des théories managériales se réfère à la capacité de celles-ci à ne pas seulement représenter ou expliquer le management mais à influencer, voire modeler, le comportement des managers dans le sens qu'elles prédisent.
    Keywords: Performativité,Management et numérique
    Date: 2017
  22. By: Alain Alcouffe (UT1 - Université Toulouse 1 Capitole)
    Abstract: In the 20th century, economic planning has begun during the First World War, with the creation of a Ministry of Production under the responsibility of Clémentel. He drafted a Plan aiming to organize exchanges, to harmonize interests, to improve techniques. After the 1929 krach, the impetus towards planning increased dramatically and remained overwhelming while France underwent several changes of regimes. Eventually a Plan Commission responsible for defining the economic planning of the country, particularly through Five Year Plans was implemented by General Charles de Gaulle in 1946. During the early 1960s many people in France and outside came to believe they had found in this French invention the perfect compromise, that is, a system which gave the presumed benefits of overall central planning without sacrificing either the advantages of the de-centralization of investment and production decisions, market mechanisms and competition. With the hindsight performances of the French economy were not so outstanding but for an illusion, the « modèle social français » fare not too badly across the 20th century crises… but there is no guarantee it can survives.
    Keywords: organised liberalism, directed economy,French planning, industrial policy
    Date: 2017
  23. By: Gordon Hanson; Chen Liu; Craig McIntosh
    Abstract: From the 1970s to the early 2000s, the United States experienced an epochal wave of low-skilled immigration. Since the Great Recession, however, U.S. borders have become a far less active place when it comes to the net arrival of foreign workers. The number of undocumented immigrants has declined in absolute terms, while the overall population of low-skilled, foreign-born workers has remained stable. We examine how the scale and composition of low-skilled immigration in the United States have evolved over time, and how relative income growth and demographic shifts in the Western Hemisphere have contributed to the recent immigration slowdown. Because major source countries for U.S. immigration are now seeing and will continue to see weak growth of the labor supply relative to the United States, future immigration rates of young, low-skilled workers appear unlikely to rebound, whether or not U.S. immigration policies tighten further.
    JEL: J11 J15 J61
    Date: 2017–08

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