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on Business, Economic and Financial History |
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Issue of 2021‒02‒22
39 papers chosen by |
| By: | Escudé, Guillermo J. |
| Abstract: | This book gives a clear synthesis of Marx’s theory of Capitalism and its relation with economic theory as it evolved over the course of the last 300 years. It places Marx’s though in perspective, comparing it with the main aspects of the economic theories that preceded it, including not only the Classical Adam Smith and David Ricardo but also economists like Cantillon, Turgot, and Ramsay that Marx chose to ignore with respect to the crucial issue of entrepreneurship because it was incompatible with his Theory of Surplus Value. But the book also contrasts Marx’s theory with Walras’, the Neoclassical economist whose influence on contemporary mainstream economic theory was most lasting. The analytical aspects of Marx’s theory are rigorously expressed by means of the technique of Input-Output Analysis, which is explained from the most elementary level in order to make the book self-contained. Each of the multiple topics of Marx’s complex and refined theory is explained in detail, including his theory of money, the heterogeneity in kinds of labor and in productive techniques, the turnover of capital, Simple and Extended Reproduction, his theory of the economic cycle, his theory of ground rent, his theory of productive and unproductive labor, and his view of the main tendencies of capitalist society. The book is structured in accordance with the development process of Marx’s thought. Hence, it begins with the life project he generated in his youth and drove him from the study of history and philosophy to that of Political Economy, on the one hand, and political praxis, on the other. Hence, Parts I, II, and IV of the book respectively address A) the philosophical-methodological foundations of his scientific endeavor (his Historical Materialism); B) his scientific theory of capitalist society as expressed in Capital; and C) his political thought and praxis, which had enormous effects over the course of the 20th century. Part III of the book addresses our critique of Marx’s theory of Capitalism. Beyond our criticisms, however, the book shows that Marx made important contributions to the comprehension of the functioning of Capitalism in the more conventional part of his theory, which we denominate ‘exoteric’ in order to contrast it with his ‘esoteric’ Theory of Surplus Value which was the foundation of his view of the exploitation of wage labor in Capitalism. RESUMEN Este libro brinda una síntesis clara de la teoría del Capitalismo de Marx y de su relación con la teoría económica que se desarrolló en el curso de los últimos 300 años. Pone al pensamiento de Marx en perspectiva, comparándola con los aspectos principales de la teoría económica que le precedió, incluyendo no sólo los clásicos Adam Smith y David Ricardo sino también los de economistas como Cantillon, Turgot y Ramsay, cuya crucial cuestión del aporte del empresario Marx eligió ignorar era incompatible con su Teoría de la Plusvalía. Pero también se contrasta la teoría de Marx con la de Walras, el economista neoclásico que tuvo más perdurable influencia sobre la teoría económica contemporánea del mainstream. En lo analítico, la teoría de Marx es expuesta rigurosamente utilizando la técnica del Análisis de Insumo-Producto, que se explica desde el nivel más elemental para hacer al libro auto-contenido. Se explica cada uno de los múltiples tópicos de la refinada y compleja teoría de Marx, incluyendo su teoría del dinero, la heterogeneidad de tipos de trabajo y de técnicas productivas, la rotación del capital, la Reproducción Simple y Ampliada del capital, su teoría del ciclo económico, su teoría de la renta de la tierra, su teoría del trabajo productivo e improductivo y su visión de las principales tendencias de la sociedad capitalista. El libro está estructurado en base al proceso de desarrollo del pensamiento de Marx. Por eso parte del proyecto de vida que éste elaboró en su juventud y que lo llevó del estudio de la historia y la filosofía al estudio de la Economía Política, por un lado, y a la práctica política, por el otro. Por ello, las Partes I, II, y IV del libro encaran respectivamente A) los fundamentos filosófico-metodológicos de su quehacer científico (el Materialismo Histórico); B) su teoría científica de la sociedad capitalista, según la expresó en El Capital; y C) su pensamiento y accionar político, que tuvo enormes efectos en el curso del siglo 20. La Parte III del libro encara nuestras críticas a la teoría del Capitalismo de Marx. Más allá de nuestra crítica, sin embargo, el libro muestra que Marx hizo importantes contribuciones a la comprensión del funcionamiento del Capitalismo en la parte más convencional de su teoría, que denominamos ‘exotérica’ para contrastarla con su ‘esotérica’ Teoría de la Plusvalía, núcleo de su concepción de la explotación del trabajo asalariado en el Capitalismo. |
| Keywords: | Karl Marx, Theory of capitalism, Surplus value theory, Labor value theory, Historical Materialism, Entrepreneurship |
| JEL: | B14 B3 B4 Z13 |
| Date: | 2021–01–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:105877&r=all |
| By: | Mari Carmen Pérez-Artés (Eberhard Karls University of Tübingen, Tübingen, Germany) |
| Abstract: | This paper assesses the human capital composition of Spanish migrants who went to colonial Latin America during the 16th to 18th centuries. To estimate the numeracy levels of the Spaniards who left Spain to settle in the colony, I use the age-heaping based method to measure the human capital. The main finding is that the Spanish migrants were positively selected. Differences are observed in the human capital of those who chose to settle in Mexico, with a higher level of numeracy, than those who chose Peru. These differences could be due to the viceroyalty structure and the presence of religious orders that encouraged the emigration of people with greater human capital to Mexico. Finally, it seems that inequality between Spaniards and natives, in terms of human capital, was larger in Mexico at the end of the 16th century reducing the gap circa 1710. |
| Keywords: | human capital, numeracy, migrations, colonial Latin America |
| JEL: | N00 N30 N33 N36 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:ahe:dtaehe:2101&r=all |
| By: | Denis Cogneau (Institut de Recherche pour le Développement (IRD), DIAL - Développement, institutions et analyses de long terme, PSE - Paris-Jourdan Sciences Economiques - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - EHESS - École des hautes études en sciences sociales - INRA - Institut National de la Recherche Agronomique - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres); Yannick Dupraz (PSE - Paris-Jourdan Sciences Economiques - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - EHESS - École des hautes études en sciences sociales - INRA - Institut National de la Recherche Agronomique - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres); Sandrine Mesplé-Somps (DIAL - Développement, institutions et analyses de long terme, Institut de Recherche pour le Développement (IRD), LEDa - Laboratoire d'Economie de Dauphine - IRD - Institut de Recherche pour le Développement - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | What was the capacity of European colonial states? How fiscally extractive were they? What was their capacity to provide public goods and services? And did this change in the "developmentalist" era of colonialism? To answer these questions, we use archival sources to build a new dataset on colonial states of the second French colonial empire (1830-1962). French colonial states extracted a substantial amount of revenue, but they were under-administered because public expenditure entailed high wage costs. These costs remained a strong constraint in the "developmentalist" era of colonialism, despite a dramatic increase in fiscal capacity and large overseas subsidies. |
| Keywords: | Histoire economique,fiscalite,periode coloniale,analyse economique |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03105552&r=all |
| By: | Graziella Bertocchi; Arcangelo Dimico |
| Abstract: | We empirically assess the effect of historical slavery on the African American family structure. Our hypothesis is that female single headship among blacks is more likely to emerge in association not with slavery per se, but with slavery in sugar plantations, since the extreme demographic and social conditions prevailing in the latter have persistently affected family formation patterns. By exploiting the exogenous variation in sugar suitability, we establish the following. In 1850, sugar suitability is indeed associated with extreme demographic outcomes within the slave population. Over the period 1880-1940, higher sugar suitability determines a higher likelihood of single female headship. The effect is driven by blacks and starts fading in 1920 in connection with the Great Migration. OLS estimates are complemented with a matching estimator and a fuzzy RDD. Over a linked sample between 1880 and 1930, we identify an even stronger intergenerational legacy of sugar planting for migrants. By 1990, the effect of sugar is replaced by that of slavery and the black share, consistent with the spread of its influence through migration and intermarriage, and black incarceration emerges as a powerful mediator. By matching slaves’ ethnic origins with ethnographic data we rule out any influence of African cultural traditions |
| Keywords: | Black family, slavery, sugar, migration, culture |
| JEL: | J12 J47 N30 O13 Z10 |
| Date: | 2020–05 |
| URL: | http://d.repec.org/n?u=RePEc:mod:dembwp:0172&r=all |
| By: | Clara Martínez-Toledano (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, WIL - World Inequality Lab); Alice Sodano (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, WIL - World Inequality Lab) |
| Abstract: | This paper draws on a rich set of electoral surveys to explore the changing relationship between party support and electoral socioeconomic cleavages in Denmark, Finland, Iceland, Norway, and Sweden from the mid-twentieth century until the present. All five countries have experienced a progressive decline in their strong class cleavages, which coincides with the emergence of multi-elite party systems, in line with most Western democracies. While in the 1950s-1960s the lowest-educated and lowest-income voters were more leftwing, since the 1970s-1980s the vote for the left has gradually become associated with the highest-educated voters, who have drifted apart from the more right-wing economic elites. We also investigate how this transformation relates to the success of populism and nationalism over the recent decades among the lowest-educated and lowest-income earners. Despite historical, cultural, and political links, the transition of Nordic countries towards a multi-elite party system has happened at different speeds, offering interesting insights on the specificities of the national trajectories. |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03135013&r=all |
| By: | Guglielmo Barone; Guido de Blasio; Elena Gentili |
| Abstract: | The paper estimates the political connection premium for Italian cities tracked during the second half of the 1900s, when the role of the state in the economy was very widespread. It leverages the peculiar features of the gridlocked political landscape in place between the end of World War II and the fall of the Berlin wall, during which most influential politicians remained in charge for a very long time. We compare connected cities - small areas surrounding birthplaces of both prime ministers and leaders of the parties in power - with very similar, but unconnected municipalities, and find that politically connected cities gained a population premium of 8% over 40 years. When the connection ends, the difference in growth rate fades away. We document that birthplaces of powerful politicians benefited from both infrastructure investments and the location of plants by state-owned enterprises. Not surprisingly, the connection favored industrialization, raised employment and wages, but crowded out private entrepreneurship. Finally, our empirical evidence indicates that agglomeration economies in treated municipalities were not higher, thus suggesting that, if anything, place-based interventions linked to political connections have not been output-enhancing from a nationwide point of view. |
| JEL: | H50 R11 R12 |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:bol:bodewp:wp1158&r=all |
| By: | Ioana Alexandra Curca (Dimitrie Cantemir Christian University of Bucharest, Bucharest, Romania) |
| Abstract: | The fifteenth century reflects the dawn of a canvas depicting a troublesome setting, inflicting vile retribution for actions that were feared and most often misinterpreted. Deeming witchcraft as an outrageous crime was a fact of existence, dictated by the influence of church and state intertwined and seen as a threat to the natural order. Rather than focusing on the fascination surrounding the practices associated with the occult, the main goal of the present paper is to provide an insight into the mechanism of past societies and how relevant literature and reality reach a convergence point on the matter of historical truth. Folklore and fantasy need to be overlooked in order to shed light on the accuracy of the entire phenomenon. The hysteria building around it and misconceptions related to esoteric pursuits led people to a distorted perception of those considered practitioners, thus sparking a long path of violence: empty, unfounded accusations and testimonies against humans with no privilege or way to defend themselves, implausible evidence of their actions, forced confessions and mass executions. |
| Keywords: | witchcraft, trials, indictment, misapprehension, facts |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:apaper:041cia&r=all |
| By: | Marc Badia-Miró; Pablo Delgado; Vicente Pinilla |
| Abstract: | In this working paper we aim to approach the evolution of the production and international trade of cava in Spain, from the mid-19th century to the present day, focusing on the leading role played by companies located in the province of Barcelona. Our objective is to complement the previous works carried out by Francesc Valls-Junyent and Emili Giralt from a more macroeconomic approach. They offered a vision centered on the behaviour of the main cava-producing companies located in Sant Sadurní (mainly Codorniu and Freixenet). Our approach is focused on the evolution of the export sector and its position in the international market for sparkling wines. |
| Keywords: | sparkling wine, agrarian exports, import substitution, cava |
| JEL: | N50 N53 N54 N70 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:seh:wpaper:2102&r=all |
| By: | Michaël Assous (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - CNRS - Centre National de la Recherche Scientifique, UL2 UFR SEG - Université Lumière - Lyon 2 - UFR de Sciences économiques et de gestion - UL2 - Université Lumière - Lyon 2); Vincent Carret (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - CNRS - Centre National de la Recherche Scientifique, UL2 UFR SEG - Université Lumière - Lyon 2 - UFR de Sciences économiques et de gestion - UL2 - Université Lumière - Lyon 2) |
| Abstract: | "This article provides a comprehensive view of Tinbergen's macrodynamic models during the 1930s and early 1940s, to show how the economist's concerns evolved from problems of instability to the idea of reaching higher positions of equilibria. Starting from the ideas developed around the first meetings of the Econometric Society, we show that Tinbergen built his own macrodynamic model with the aim to consider several problems of economic policy, in particular the effects of public expenditures and changes in money wages. One of the possibilities that Tinbergen underlined throughout his models was the threat of complete or partial collapse stemming from the presence of multiple equilibria. From the mid-1930s, Tinbergen gained confidence in the power of economic policies to stabilize the economy, and his attention shifted to the final position of equilibrium, and the policies that could improve it. His most well-known models developed for the League of Nations addressed that issue and showed how the final equilibrium may be shifted by "permanent" policies. We argue that Tinbergen also considered the case that the economy could be lifted by temporary policies in the presence of multiple equilibria. Based on papers published by Tinbergen in Dutch, French and German that for the most part have never been translated, this article offers a new perspective to the development of early macrodynamic modeling. From this literature the originality, breadth and pioneering ideas of Tinbergen clearly come out and explain many of his sometimes paradoxical policy positions." |
| Keywords: | economic policy,Tinbergen,equilibria,macrodynamics,stability |
| Date: | 2021–02–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03133125&r=all |
| By: | Simpson, James; Carmona Pidal, Juan Antonio |
| Abstract: | La derrota del rentista y el éxito de la explotación familiar agraria en Europa Occidental desde finales del siglo XIX ha significado una mejora de los derechos de los colonos, una pérdida de control de los propietarios sobre sus tierras, y a largo plazo, la consolidación de la propiedad en manos del colono. Sin embargo, en algunos casos, como el de la rabassa morta, estas mejoras no van acompañadas de la derrota del rentista, ni de la división de los derechos de propiedad. En este caso, el hecho de tratarse de una aparcería que requería la entrega de una parte de la cosecha explica que fuera compatible con la participación activa del propietario en la producción, su resistencia a las reformas y la intensa conflictividad asociada al contrato entre 1890 y 1936, en contraste con lo que encontramos en otras regiones españolas. |
| Keywords: | Vino; Gran Propiedad; Segunda República; Cataluña; Reforma Agraria; Aparcería |
| JEL: | Q15 Q13 N54 D23 |
| Date: | 2021–02–09 |
| URL: | http://d.repec.org/n?u=RePEc:cte:whrepe:31891&r=all |
| By: | Enea Baselgia (HSG - University of St.Gallen, SIAW Institute); Isabel Martínez (ETH Zürich - Eidgenössische Technische Hochschule - Swiss Federal Institute of Technology in Zürich [Zürich], KOF Swiss Economic Institute) |
| Abstract: | We estimate the ratio of private wealth to national income, βpt, for Switzerland over the period 1900-2018. Our results indicate that the development of βpt in Switzerland did not follow a U-shaped pattern as in most European countries, but that the evolution was extraordinarily stable, with βpt oscillating around 500% over most of the 20th century. However, the wealth-income ratio has been on the rise since the turn of the century to reach 721% in 2017-an unprecedented level in the past. This considerable increase is mainly driven by large capital gains in housing wealth since 2010. We present new crosscountry evidence that capital gains in housing wealth have become an important driver of rising wealth-income ratios in a series of developed economies. |
| Keywords: | wealth-income ratio,income distribution,economic growth,housing prices |
| Date: | 2020–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wilwps:halshs-03130618&r=all |
| By: | Aurelia Sabiescu (University of Craiova, Craiova, Romania) |
| Abstract: | Romania holds a cultural, historical and ethno-folkloric patrimony of considerable value which advantages the increase of tourism attractiveness. The tourism industry in our country had its starting point back in the 19th century. The development of the cultural tourism entails the recognition, restoration and the renovation of historic buildings and, mainly, of the existent historical patrimony, the entire process being accompanied by the recognition and the encouragement of local traditions, subsequently stimulating this development by means of cultural products. Romania has followed some essential steps in order to be seen as a destination of cultural interest, and not only environmentally, considering the fact that a large amount of sites and attractions with a stark impact from a historical and aesthetical perspective. For Romania, cultural tourism is regarded as an essential matter, whereas most itineraries suggested by various tour operators from Italy are focusing especially on this field. The most known and popular tourist attractions seen in the Italian market are Transylvania and its three main cities (Sibiu, BraÅŸov, SighiÅŸoara), Bukovina with its painted monasteries. The tour continues from Bucharest to Sinaia, offering the opportunity to explore the lands of royal castles, and finally reaching Transylvania, a true land of fairy tales, with its Bran Castle, the famous RâÅŸnov Fortress and other churches and medieval buildings. The trip is followed by a sightseeing of the main urban centers in BraÅŸov, such as the Black Church, with its towers and strongholds; Sibiu, along with the Astra National Museum and the Brukenthal National Museum (being the first museum built in Central and Eastern Europe), and SighiÅŸoara, a hidden gem destination in Romania, which presents a well-defined medieval center, along with the Clock Tower, watching over the entire city. Those who are specifically interested in finding out more about the Romanian cultural patrimony are invited to visit the 30 main destinations in Romania included in the UNESCO List, in which, apart from the monasteries, churches and the urban centers previously mentioned, there are also included the Dacian settlements in Orăştie Mountains (Sarmisegethusa Regia). |
| Keywords: | Tourism, Cultural Tourism, Urban Tourism, Urban Center, Historic Patrimony, Tourist Attraction, Church, Monastery, Tourism Market, Industry |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:apaper:040sa&r=all |
| By: | Nicolas Piluso (CERTOP - Centre d'Etude et de Recherche Travail Organisation Pouvoir - UT2J - Université Toulouse - Jean Jaurès - UT3 - Université Toulouse III - Paul Sabatier - Université Fédérale Toulouse Midi-Pyrénées - CNRS - Centre National de la Recherche Scientifique); Thomas Ruellou (PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne) |
| Abstract: | The purpose of this article is to show that from a history of economic thought perspective, the institutional hypothesis of asymmetry between entrepreneurs and employees, which implies that the employment level is determined by entrepreneurs alone, is particularly common. It would therefore constitute a standard, far from what orthodox economists and most economics textbooks suggest by presupposing that the level of employment would be jointly determined by supply and demand. |
| Abstract: | L'objet de cet article est de montrer que du point de vue de l'histoire de la pensée économique et des différents courants théoriques qui la composent, l'hypothèse institutionnelle d'asymétrie entre entrepreneurs et salariés, qui implique d'affirmer que le niveau d'emploi est déterminé par les seuls entrepreneurs, est particulièrement fréquente. Elle constituerait donc une norme, bien loin de ce que laissent penser les économistes orthodoxes et la plupart des manuels d'économie qui présentent l'hypothèse selon laquelle le niveau d'emploi est déterminé conjointement par l'offre et la demande comme normale. |
| Keywords: | unvoluntary unemployment,restricted Say law,wage,asymetric salary relationship. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03048816&r=all |
| By: | Zahra Momeni (University of IAU, Iran) |
| Abstract: | In 60 km southwest of Tabriz in East Azarbaijan province, a village with magnificent rock architecture has been formed. The most famous history of about 6,000 years, annually hosts more than 300,000 domestic and foreign tourists. The conical and pyramidal masses formed by the volcanic interactions of the Sahand mountain from thousands of years ago made it possible to settle on the slopes of this mountain. Today this type of landscape is seen in only two examples of the hills in the world (Cappadocia in Turkey, Dakota in the USA) with the advantage of Kandovan, that unlike the mentioned examples which have no inhabitants, the Iranian case is a touristic village and has more than 120 families with the living and working facilities. Exclusive architecture of Kandovan village along with its residents’ flow of life in its old texture form is considered as a unique phenomenon in the world, since, no one is found, anymore, to live in Cappadocia of Turkey or Dakota of U.S. Kandovan is a lively village built at the heart of rocks, and stone is the only structure of the village. The houses are in pyramid-form and some holes have been considered for livestock of the villagers. Certainly, the ultimate goal of the present article is considering the village as the pattern to its two similar cases, hoping that the authorities and responsible in the field of culture and tourism consider the village as a source of inspiration and take some steps compared to revival actions of the two exclusive cases since protecting historical and natural heritages has economic and cultural importance from the tourism perspective. Revival and introducing a progressive plan might be accompanied by the best positive cultural and economic results. This revival project, of course, has some certain dangers and potential threats for the elimination of historical and natural signs of the current texture, requiring a scientific and professional attitude and approach. The issue, which, unfortunately, has been ignored is that more than one decade attempts have been fruitless in registering the village in the UNESCO’s historical monuments’ list (unlike the other two above mentioned cases). In fact, modern human interferences in the form of unpermitted constructions have threatened historical signs and cultural value of the village. These are the barriers, which in the belief of UNESCO’s experts, should be eliminated. Hence, the lessons taken from Kandovan village should be noted and considered by authorities of cultural heritage and tourism industry responsible. |
| Keywords: | Kandovan, cultural landscape, tourism, rock architecture, UNESCO |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:apaper:045zm&r=all |
| By: | Andre Houle (Chicopee, Massachusetts, USA) |
| Abstract: | This paper is an introduction to synthisophy: roots, mission, description and conclusion. |
| Keywords: | synthisophy, history, science, politics, society, philosophy, religion, technology |
| Date: | 2020–10 |
| URL: | http://d.repec.org/n?u=RePEc:smo:bpaper:027ah&r=all |
| By: | Andre Houle (Chicopee, Massachusetts, USA, www.synthisophy.com) |
| Abstract: | This paper is an introduction to synthisophy: roots, mission, description and conclusion. |
| Keywords: | synthisophy, history, science, politics, society, philosophy, religion, technology |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:apaper:028ah&r=all |
| By: | François Facchini (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Elena Seghezza (Universita degli studi di Genova) |
| Abstract: | The aim of this article is to help explain the history of the public spending-to-GDP ratio in France by examining the production of laws and regulations. It empirically finds a positive and significant relationship between the number of pages in the Official Gazette of the French Republic and the development of the public expenditure-to-GDP ratio. We rely on the number of pages in the Official Gazette as a proxy for the cost of implementing laws and regulations. If unchecked, a proliferation of laws and regulations expands public spending. Over the period 1905–2015, a 10% increase in pages caused a 1.14% increase in the public expenditure-to-GDP ratio. |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:hal-03051879&r=all |
| By: | Becker, Sascha O. (Monash University); Lindenthal, Volker (University of Munich); Mukand, Sharun (University of Warwick); Waldinger, Fabian (University of Munich) |
| Abstract: | We study the role of professional networks in facilitating the escape of persecuted academics from Nazi Germany. From 1933, the Nazi regime started to dismiss academics of Jewish origin from their positions. The timing of dismissals created individual-level exogenous variation in the timing of emigration from Nazi Germany, allowing us to estimate the causal effect of networks for emigration decisions. Academics with ties to more colleagues who had emigrated in 1933 or 1934 (early émigrés) were more likely to emigrate. The early émigrés functioned as "bridging nodes" that helped other academics cross over to their destination. Furthermore, we provide some of the first empirical evidence of decay in social ties over time. The strength of ties also decays across space, even within cities. Finally, for high-skilled migrants, professional networks are more important than community networks. |
| Keywords: | Nazi Germany, professional networks, Antisemitism |
| JEL: | I20 I23 I28 J15 J24 N34 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14120&r=all |
| By: | Julianna Kopeczi (Université Paris-Est, LIPHA, France) |
| Abstract: | Taking into account the current political landscapes both at the national and international levels, one might be tempted to assert that Aristotle’s dictum “man is a political animal†is even more relevant today than perhaps at any other time in history. Indeed, even Aristotle realized that the gift of speech—inherent to all—could have a positive or negative impact upon the life of an individual and/or community. We intend to analyze the manner in which populist political discourse came to be constructed and used within two particular instances, namely in the United States of America and France. Focusing on the aspect of identity construction, we will set forth a comparative theoretical framework highlighting the commonalities and distinctions between the two approaches, while also illustrating how these had been carried out at a discursive level. |
| Keywords: | populism, discourse theory, identity construction, Donald Trump, Marine le Pen |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:apaper:020jk&r=all |
| By: | Florence Renucci (IMAF - Institut des Mondes Africains - UP1 - Université Paris 1 Panthéon-Sorbonne - IRD - Institut de Recherche pour le Développement - EHESS - École des hautes études en sciences sociales - EPHE - École pratique des hautes études - PSL - Université Paris sciences et lettres - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Lorsque l'on évoque les « revues scientifiques », de quoi parle-ton au juste ? Doit-on définir ces revues en s'appuyant seulement sur leur titre ? Cela reviendrait à ne tenir compte que des périodiques qui s'auto-désignent comme revue « scientifique ». En réalité, le titre n'est pas un déterminant suffisant de ce qu'est une revue. En droit, il existe des imprimés spécialisés qui incluent de la législation, de la jurisprudence et de la doctrine et dont le titre ne comporte pas le terme « revue ». Pour cette raison, la « revue » sera entendue ici dans une acception large, quel que soit son titre, du moment qu'elle répond à des critères de taille (un nombre minimal de pages qui la distingue d'un bulletin), de contenu (la présence d'analyses donc de doctrine), d'organisation (l'existence d'un comité de rédaction et/ou scientifique) et de périodicité. La revue est dite de « droit colonial » lorsqu'elle porte principalement sur ce domaine. Principalement, mais non uniquement, car elle accueille parfois des articles dans d'autres disciplines (notamment l'histoire, la linguistique, l'économie et la géographie). Elle n'a pas non plus le monopole du droit colonial qui fait l'objet d'articles dans d'autres types de périodiques. Enfin, il n'est pas possible d'inclure des critères liés à l'évaluation par les pairs dans notre définition car, pour les périodiques étudiés ici, nous ignorons pour le moment comment se déroulait cette évaluation et, en particulier, si elle n'était pas uniquement le fait des directeurs, rédacteurs en chef ou secrétaires de rédaction. |
| Keywords: | Acteurs,économie,savoirs,Revues académiques,colonies,Droit - Histoire,Histoire des savoirs,Juristes coloniaux,Histoire des facultés de droit françaises,Algérie,Afrique,Asie,Circulation de l'information scientifique,Histoire de l'enseignement,Histoire de l'édition |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03097412&r=all |
| By: | Khushboo Chaturvedi (Amity University, India,); Varun Sahai (Amity University, India,) |
| Abstract: | Ladakh is one of the peculiar terrains of the world which still remains mystic due to its inaccessibility and solitude as cold dessert encircled by rugged and mighty ranges of Himalayas, though it was explored by Sir Alexander Cunningham in 1852. Ladakh appearing more Tibetan than Tibet attracted many adventurers and scholars in the field of Indo Tibetan studies. Mongyu is a small village in a narrow deep ravine of Ladakh situated on the left bank of river Indus near Alchi. The monastery of Mongyu is a complex of four temples, i.e., Byamschen Lhakhang (Avalokiteshvara temple), Thugs-rge-chen po Lhakhang (Assembly Hall), Nampar snag mdzad (Vairochana temple) and Jam-chung Lhakhang (Manjusri temple). Its antiquity indicates that it must have been constructed during the revival of Buddhism in Western Tibet. It contains large amount of rare wall paintings from eleventh-twelfth century that are among the most precious and prepossessing in existence today. Its statues and paintings embrace many unique works of art representing the ancient art from the formerly vital marveled Buddhist center of Kashmir. Stylistically they may be compared to the famous paintings of the early temples of Alchi to which the foundation of Mongyu is contemporaneous. The wall paintings are articulate documents that contribute in resolving the chronology of the paintings of Alchi too. |
| Keywords: | Ladakh, Monastery, Wall Paintings, Alchi, Himalayan Art |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:apaper:033kc&r=all |
| By: | Christophe Salvat (GRANGER - Centre Gilles-Gaston Granger - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article questions the articulation between John Stuart Mill's initial project of creating a new science dedicated to the means of improving individual character, a science named ethology, and the treatise of political economy that he published instead. My claim is that his defence of free competition as well as some of the arguments he opposes to it, and which have often puzzled his readers, actually reveal the moral agenda of his political economy and of some of his political principles, specifically his ambivalent position towards paternalism. |
| Keywords: | Mill,political economy,paternalism,character,Ethology |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03083697&r=all |
| By: | Sheng, Jiemin (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise) |
| Abstract: | In this paper, the author explores the balance sheet of the Exchange Stabilization Fund (ESF) over its first 85 years as a lens though which to analyze the fund. An accompanying spreadsheet workbook provides data from the annual balance sheet of the ESF since the fund’s inception in 1934. These data are available in electronic form for the first time, which will be of interest to those wishing to do quantitative analyses of its role in U.S. monetary policy. |
| Keywords: | Exchange Stabilization Fund (ESF); balance sheet; assets; liabilities; gold; foreign exchange intervention |
| JEL: | E52 E59 N12 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:ris:jhisae:0172&r=all |
| By: | Alberto Bisin; Andrea Moro |
| Abstract: | In Historical Economics, Persistence studies document the persistence of some historical phenomenon or leverage this persistence to identify causal relationships of interest in the present. In this chapter, we analyze the implications of allowing for heterogeneous treatment effects in these studies. We delineate their common empirical structure, argue that heterogeneous treatment effects are likely in their context, and propose minimal abstract models that help interpret results and guide the development of empirical strategies to uncover the mechanisms generating the effects. |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2102.08174&r=all |
| By: | Repapis, Constantinos; Assistant, JHET |
| Abstract: | In this paper we investigate Werner Stark’s sociology of knowledge approach in the history of economic thought. This paper explores: 1) The strengths and weaknesses of Stark’s approach to historiography, 2) seeing how this can frame an understanding of mercantilist writings and, 3) develop a link between a pluralist understanding of economics, and the sociology of knowledge approach. The reason for developing this link is to extend the sociology of knowledge approach to encompass a pluralist understanding of economic theorising and, at the same time, clarify the link between context and economic theory. John Maynard Keynes’ practice of building narratives of intellectual traditions as evidenced in The General Theory is used to develop a position between an understanding of history of economic thought as the evolution of abstract and de-contextualized economic theorising and, the view of economic theory as only relevant within the social conditions from which it arose. |
| Date: | 2021–02–12 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:xctmk&r=all |
| By: | Dieckelmann, Daniel |
| Abstract: | Using new quarterly U.S. data for the past 120 years, I show that sudden reversals in equity and credit market sentiment approximated by several measures of corporate securities issuance are highly predictive of banking crises and recessions. Deviations in equity issuance from historical averages also help to explain economic activity over the business cycle. Crises and recessions often occur independently of domestic leverage, making the credit-to-GDP gap a deficient early-warning indicator historically. The fact that equity issuance reversals predict banking crises without elevated private credit levels, suggests that changes in investor sentiment can trigger financial crises even in the absence of underlying banking fragility. |
| Keywords: | Corporate securities issuance,market sentiment,nancial fragility,banking crises,recessions |
| JEL: | E32 G01 G32 G41 N11 N12 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:fubsbe:20216&r=all |
| By: | Roses, Joan R.; Domenech Feliu, Jordi; Basco Mascaro, Sergi |
| Abstract: | The outburst of deaths and cases of Covid-19 around the world has renewed the interest to understand the mortality effects of pandemics across regions, occupations, age and gender. The Spanish Flu is the closest pandemic to Covid-19. Mortality rates in Spain were among the largest in today's developed countries. Our research documents a substantial heterogeneity on mortality rates across occupations. The highest mortality was on low-income workers. We also record a rural mortality penalty that reversed the historical urban penalty temporally. The higher capacity of certain social groups to isolate themselves from social contact could explain these mortality differentials. However, adjusting mortality evidence by these two factors, there were still large mortality inter-provincial differences for the same occupation and location, suggesting the existence of a regional component in rates of flu contagion possibly related to climatic differences. |
| Keywords: | Urban Penalty; Socio-Economic Differences; Health Inequality; Pandemics |
| JEL: | I14 J1 N34 |
| Date: | 2021–02–09 |
| URL: | http://d.repec.org/n?u=RePEc:cte:whrepe:31892&r=all |
| By: | Giacomo Rella |
| Abstract: | Did the transmission mechanism of monetary policy through housing and household debt change over time? I explore this question using a ten-variable time-varying parameter VAR model with stochastic volatility estimated on US data from 1960 to 2018. The model captures the joint dynamics of aggregate economy, housing sector, policy and household debt. Monetary policy shocks are identified with timing restrictions. I find evidence that the transmission mechanism of monetary policy through housing and household debt changed over time. The response of new housing starts and residential investment to monetary policy shocks has become slower and slightly larger. In contrast, the sensitivity of household debt to monetary policy shocks diminished since the late 1960s, except of the early 2000s when it increased. House prices stand as the most important variable for the transmission of monetary policy through housing in most recent decades. In the last part of the paper, I frame the aggregate evidence in the light of the institutional changes that have been affecting the US housing finance system since the 1970s. |
| Keywords: | time-varying parameter VAR, monetary policy, housing, household debt |
| JEL: | E44 E52 E58 G51 N1 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:usi:wpaper:850&r=all |
| By: | Jos\'e Manuel Corcuera |
| Abstract: | This paper is devoted, mainly, to show that the last quarter of the past century can be considered as the golden age of the Mathematical Finance. In this period the collaboration of great economist and the best generation of probabilists, most of them from the Strasbourg's School led by Paul Andr\'e Meyer, gave rise to the foundations of this discipline. They established the two fundamentals theorems of arbitrage theory, close formulas for options, the main modelling approaches and created the appropriate framework for the posterior development.12 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2102.06693&r=all |
| By: | Dr Shuchita Sharma (Central University of Higher Tibetan Studies, India,) |
| Abstract: | The temples are most outstanding form of India’s sacred architecture. Temples are conceived as a receptacle for an image of the saviour or deity who is worshiped there. Generally, temple is defined as a building dedicated to deity and worship or it is a place of worship. Masrur, in the Kangra district, is an important site in the Himalayan region with a view to study Hindu temple architecture. Masrur is amazing monolithic rock-cut curvilinear Shikhara type temple; probably it is singular example in the North India of its kind. The temple of Masrur is an extensive rock-cut temple complex with the central part, roughly 160X105 ft., showing a large east-facing Shiva temple as nucleus enclosed by eight subsidiary shrines. On the extremities of the longer side are excavated two medium sized temples, each facing the transverse direction and surmounted by four satellite shrines. The architectural and iconographical plan of the complex, the Masrur complex fits in between the Gupta architecture and the typology of overall character of the temples dated to the tenth and eleventh centuries those of Central India, Rajsthan and Gujrat. Regarding the dating of the Masrur, Professor C Shivarammurthi writes “Since the carving is very pleasing and follows the Gupta idiom- though very much more advanced in style- this must be eight-century work†. |
| Keywords: | Kangra, Temple Architecture, Nagar Temple, Vastushastra |
| Date: | 2020–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:apaper:032sk&r=all |
| By: | Luis Bauluz (University of Bonn); Amory Gethin, (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, WIL - World Inequality Lab); Clara Martinez-Toledano (Imperial College London); Marc Morgan (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, WIL - World Inequality Lab) |
| Abstract: | This paper combines post-electoral surveys to analyze the transformation of the structure of political cleavages in Italy, Spain, Portugal, and Ireland over the last decades. Although all four countries were late industrializers and were heavily impacted by the 2008 global recession, leading to a profound reconfiguration and transformation of their party systems, socioeconomic cleavages have not followed the exact same patterns. We document a progressive decline of class cleavages in Italy and Spain and an exacerbation of class divisions in Portugal and Ireland over the last decade. In Italy and Spain, despite their strong religious and regional divisions, we find growing support for social democratic, socialist, and affiliated parties among highest-educated voters, while top-income earners have remained more supportive of conservative forces, leading to the emergence of "multi-elite party systems" comparable to that found in other Western democracies. Portugal and Ireland have instead remained with their "single-elite party systems", marked by the polarization of mainstream parties after the onset of the financial crisis in Portugal, the rise of Sinn Féin supported by low-income and lower-educated voters in Ireland, and the exceptional absence of strong farright parties capturing the lower classes in both countries. |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wilwps:halshs-03131155&r=all |
| By: | Luis Bauluz (University of Bonn); Amory Gethin, (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, WIL - World Inequality Lab); Clara Martinez-Toledano (Imperial College London); Marc Morgan (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, WIL - World Inequality Lab) |
| Abstract: | This paper combines post-electoral surveys to analyze the transformation of the structure of political cleavages in Italy, Spain, Portugal, and Ireland over the last decades. Although all four countries were late industrializers and were heavily impacted by the 2008 global recession, leading to a profound reconfiguration and transformation of their party systems, socioeconomic cleavages have not followed the exact same patterns. We document a progressive decline of class cleavages in Italy and Spain and an exacerbation of class divisions in Portugal and Ireland over the last decade. In Italy and Spain, despite their strong religious and regional divisions, we find growing support for social democratic, socialist, and affiliated parties among highest-educated voters, while top-income earners have remained more supportive of conservative forces, leading to the emergence of "multi-elite party systems" comparable to that found in other Western democracies. Portugal and Ireland have instead remained with their "single-elite party systems", marked by the polarization of mainstream parties after the onset of the financial crisis in Portugal, the rise of Sinn Féin supported by low-income and lower-educated voters in Ireland, and the exceptional absence of strong farright parties capturing the lower classes in both countries. |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03131155&r=all |
| By: | Emmanuel Erem (Department of Economics, Maynooth University, Ireland.) |
| Abstract: | Exchange rate regimes have evolved a lot of the years, specifically the past century, right from the Gold standard to the Bretton Woods era that led to the creation of the International Monetary Fund (IMF) and Post Bretton Woods periods that have seen the emergence of currency unions and a whole range of hybrid and more sophisticated exchange rate regimes. This evolution has led to the emergence of de jure and de facto exchange rate regimes. This discrepancy can be very misleading and pervasive for monetary policy and stability. In this paper, we combine an empirical econometric approach to develop an algorithm that will classify the de facto regimes that countries are practising by modelling exchange rate bands and the behaviour of a particular currency towards an anchor. The sample is representative of the globe. We believe the algorithm performs well and may be adopted by monetary authorities and international bodies like the International Monetary Fund. |
| Keywords: | Exchange rate regime, algorithm |
| JEL: | F33 |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:aly:journl:202049&r=all |
| By: | Bernd Hayo (Philipps University Marburg); Stefan Voigt (University of Hamburg) |
| Abstract: | An independent judiciary has often been hailed as one of the most important aspects of the rule of law. Securing judicial independence (JI) via explicit constitutional rules seems straightforward and there is evidence that de jure and de facto JI are linked, at least in the long term. However, the realized degree of judicial independence often diverges significantly from the constitutionally guaranteed one. Based on theoretical conjectures and a worldwide panel dataset from 1950 to 2003, we find changes toward more parliamentary systems to be associated with a larger de jure-de facto gap, whereas the existence of procedures for amending the constitution are associated with a smaller gap. Relying on corruption levels as a proxy for the functionality of institutions, we find that higher corruption levels are associated with a wider gap between de jure and de facto JI. |
| Keywords: | Judicial independence; constitutional compliance; de jure; de facto; de jure-de facto gap |
| JEL: | H11 K38 P51 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:mar:magkse:202105&r=all |
| By: | Polemis, Michael; Stengos, Thanasis |
| Abstract: | The scope of this study is to shed light on the determinants of the time gap between the publication of a Nobel discovery and the bestowment of the prize across three science fields (Physics, Chemistry, and Medicine). The econometric evidence supports that the delay gap is inversely related to the age of the Laureate when the Nobel-worthy contribution was published in Physics and Chemistry but not in Medicine. An increase of the age of the researcher by one year leads to a reduction of the Nobel delay by almost three months on average while sharing the Prize for the same research delays the award by approximately 1.2 years. Lastly, important theoretical discoveries increase the delay by 3.3 years on average, while obtaining the last education degree a year later delays the Nobel Prize by 4.7 months on average. |
| Keywords: | Nobel Prize; Delay gap; Sciences; Contest |
| JEL: | C23 C80 D20 |
| Date: | 2021–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:106083&r=all |
| By: | Issaka Dahani (UJZK - Université Joseph Ki-Zerbo [Ouagadougou]); Georges Compaore |
| Abstract: | TRADE IN WEST AFRICA: THE TOWN OF FADA N'GOURMA Abstract: The urban agglomeration of Fada N'Gourma in the eastern region of Burkina Faso is located at the crossroads of several countries in West Africa. It covers an area of 350 km², with a population of approximately 66,173 inhabitants in 2019 (INSD-Est, 1996-2006. p. 222; Projection I. DAHANI, 2020). This city hosted its first market between 1395 to 1439. The people who lived there carried out trade which was subsequently connected with those of West Africa. This market later became the main one in the city. The commercial exchanges of the pre-colonial period and the marketing circuits that were built in West Africa, allowed Fada N'Gourma to become a transit hub. The present survey is essentially built on field research by collecting primary data. It aims to present the city of Fada N'Gourma in the trade in West Africa of the pre-colonial, colonial and post-colonial periods. Thus, an examination of trade in West Africa shows that this city is mainly a transit point for trade in West Africa from the pre-colonial period to the post-colonial period. |
| Abstract: | Résumé : L'agglomération urbaine de Fada N'Gourma dans la région de l'Est du Burkina Faso est située au carrefour de plusieurs pays de l'Afrique de l'Ouest. Elle couvre une superficie de de 350 km², avec une population d'environ 66 173 habitants en 2019. (INSD-Est, 1996-2006. p. 222 ; Projection I. DAHANI, 2020). Cette ville a abrité son premier marché entre 1395 à 1439. Les populations qui y vivaient effectuaient des échanges commerciaux qui ont été par la suite connecté à ceux de l'Afrique de l'Ouest. Ce marché est devenu par la suite le principal de la ville. Les échanges commerciaux de la période précoloniale et les circuits de commercialisation qui en ont été construits en Afrique de l'ouest, ont permis à Fada N'Gourma de devenir un carrefour de transit. La présente investigation est essentiellement construite sur une recherche de terrain par la collecte des données primaires. Elle vise à présenter la ville de Fada N'Gourma dans les échanges commerciaux en Afrique de l'Ouest de la période précoloniale, coloniale et celle post coloniale. Ainsi, l'examen des échanges commerciaux en Afrique de l'Ouest montre que cette ville est principalement un lieu de transit dans les échanges commerciaux en Afrique de l'Ouest depuis la période précoloniale jusqu'à celle post coloniale. |
| Keywords: | Fada N’Gourma,market,trade,West Africa,marché,échanges commerciaux,Afrique de l’Ouest |
| Date: | 2020–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03114809&r=all |
| By: | Russell Pittman (U.S. Department of Justice) |
| Abstract: | This lecture, delivered at the Higher School of Economics in 2020, opens with a discussion of the modern history of economists’ treatment of network industries: from cost-of-service regulation through incentive regulation to vertical restructuring. This history is then applied to the freight railways sector, followed by a discussion of the current state of the debate on rail restructuring – what we term the European versus the American model, or vertical versus horizontal separation – first generally and then in the Russian Federation. Finally, we seek to derive lessons relevant to Russia from both the empirical literature and the results of recent reform policies implemented in the United States and the European Union. |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:doj:eagpap:202101&r=all |
| By: | Mariam Camarero (University Jaume I and INTECO, Department of Economics, Campus de Riu Sec, E-12080 Castellón (Spain)); Alejandro Muñoz (University of València, Department of Applied Economics II, Av. dels Tarongers, s/n Eastern Department Building E-46022 Valencia, (Spain) de Marcenado, 27, 28015, Madrid (Spain)); Cecilio Tamarit (University of València and INTECO, Department of Applied Economics II, Av. dels Tarongers, s/n Eastern Department Building E-46022 Valencia, (Spain)) |
| Abstract: | This paper assesses capital mobility for the Eurozone countries by studying the long-run relationship between domestic investment and savings for the period 1970-2019. Our main goal is to analyze the impact of economic events on capital mobility during this period. We apply the cointegration methodology in a setting that allows us to identify endogenous breaks in the long-run saving-investment relationship. Specifically, the breaks coincide with relevant economic events. We find a downward trend in the saving-investment retention since the 70s for the so-called “core countries”, whereas this trend is not so clear in the peripheral, where the financial and sovereign crises have had a more substantial impact. Our analysis captures other economic events: the Exchange Rate Mechanism (ERM) crisis, the German reunification, the European financial assistance program, and the post-crisis period. Our results also indicate that the original euro design had some caveats that remain unsolved. |
| Keywords: | Capital mobility; Feldstein-Horioka puzzle; Multiple Structural Breaks; Cointegration, unit roots |
| JEL: | F36 F45 O16 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:eec:wpaper:2102&r=all |
| By: | Bryson, Alex (University College London); Buraimo, Babatunde (University of Liverpool); Farnell, Alex (Lancaster University); Simmons, Rob (Lancaster University) |
| Abstract: | One expects those who lead organisations to affect their performance. If not why would organisations spend so much time and money appointing and incentivising their leaders? Yet there is little evidence establishing a causal link between leaders and organisational performance. Using game-by-game linked employer-employee data for professional football in four countries over fifteen seasons we compare the performance of teams after they have sacked their Head Coach with spells where the Head Coach remains in post. We undertake a similar exercise comparing performance after a Head Coach quits with that of teams where the Head Coach remains in post. We deal with the endogeneity of Coach departures using entropy balancing to reweight teams' performance prior to the departure of a Coach so that trends in team performance prior to the departure match spells which ended with a Coach remaining in post. Consistent with theory, Head Coach quits have little or no impact on team performance whereas teams who fire their Head Coach experience small but statistically significant improvements in team performance, although this positive impact is confined to circumstances in which a team holds onto the new Coach having sacked the previous Coach. Our results lend support to the proposition that teams can benefit from Head Coach turnover, firing them when it is optimal to do so, and replacing a Head Coach during the offseason. |
| Keywords: | managerial performance, team performance, football, entropy balancing |
| JEL: | Z22 |
| Date: | 2021–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14104&r=all |