nep-his New Economics Papers
on Business, Economic and Financial History
Issue of 2023‒11‒06
27 papers chosen by
Bernardo Bátiz-Lazo, Northumbria University


  1. Why Women Won By Claudia Goldin
  2. Jessica Peixotto, a home economist not thrilled by the thrift culture By Juliette Blayac
  3. Loans for the "Little Fellow:" Credit, Crisis, and Recovery in the Great Depression By Sarah Quincy
  4. HES at 50--Reflections from the Geneva lakeside By maas, harro
  5. Health shocks, recovery and the first thousand days: the effect of the Second World War on height growth in Japanese children By Schneider, Eric B.; Ogasawara, Kota; Cole, Tim
  6. Economic Warfare: Lessons from Two World Wars By Harrison, Mark
  7. The meandering trajectories of financial innovations: commercial paper and its uses in sixteenth-century Lyon's trading networks By Matringe, Nadia
  8. Religion and Growth By Becker, Sascha O.; Rubin, Jared; Woessmann, Ludger
  9. Oskar Lange’s Economics and the Socialist Economy By Marques Gomes, Luiz Henrique
  10. Destructive Digital Entrepreneurship By Naudé, Wim
  11. Violence and Long-run Economic Growth in the United States By Michele Baggio; Alberto Chong; Metin Cosgel
  12. Agglomeration and Congestion in Latin America By Gómez-Lobo, Andrés; Sánchez González, Santiago; González Mejia, Vileydy; Calatayud, Agustina
  13. Social Movements and Transnational Change: The Case of Feminism at the United Nations By Serena Fiorletta
  14. The Long Shadow of the Past: Early-Life Disease Environment and Later-Life Mortality By Noghanibehambari, Hamid; Fletcher, Jason M.
  15. Origins and Evolution of Japan's Technical Intern Training Program (Japanese) By Hiroshi FUKUYAMA; HASHIMOTO Yuki
  16. One Giant Leap: Emancipation and Aggregate Economic Gains By Richard Hornbeck; Trevon Logan
  17. K–12 Schools in Ohio Are Separate and Unequal By Dionissi Aliprantis; Mukund Jayaram
  18. Application of Attribution Theory in Business and Economics: A Bibliometric Analysis By Sakib, S M Nazmuz
  19. The administratization of criminal convictions worldwide: History, extent, and consequences By Paolini, Gabriele
  20. Is There Really an Inflation Tax? Not For the Middle Class and the Ultra-Wealthy By Edward N. Wolff
  21. Austria. The 20th Austrian Trade Union Federation congress and climate change: towards a unionism for social change? By Kevin Guillas-Cavan
  22. The Lasting Impact of Historical Residential Security Maps on Experienced Segregation By Daniel Aaronson; Daniel Hartley; Bhashkar Mazumder
  23. To what extent are temperature levels changing due to greenhouse gas emissions? By John K. Dagsvik; Sigmund H. Moen
  24. TRENDS IN THE EVOLUTION OF AUTHORITIES OF SUBJECTS OF THE RUSSIAN FEDERATION WITHIN JOINT JURISDICTION WITH THE RUSSIAN FEDERATION By Klimanov, Vladimir (Климанов, Владимир); Timushev, Evgeny (Тимушев, Евгений)
  25. Corporate failure : A literature review By Safaa Mrani; Loulid Adil
  26. The Dictator Equation: The Distortion of Information Flow in Autocratic Regimes and Its Consequences By Vakhtang Putkaradze
  27. Allocative Efficiency of Government Spending for Growth in Latin American Countries By Pessino, Carola; Altinok, Nadir; Chagalj, Cristian

  1. By: Claudia Goldin
    Abstract: How, when, and why did women in the US obtain legal rights equal to men’s regarding the workplace, marriage, family, Social Security, criminal justice, credit markets, and other parts of the economy and society, decades after they gained the right to vote? The story begins with the civil rights movement and the somewhat fortuitous nature of the early and key women’s rights legislation. The women’s movement formed and pressed for further rights. Of the 155 critical moments in women’s rights history I’ve compiled from 1905 to 2023, 45% occurred between 1963 and 1973. The greatly increased employment of women, the formation of women’s rights associations, the belief that women’s votes mattered, and the unstinting efforts of various members of Congress were behind the advances. But women soon became splintered by marital status, employment, region, and religion far more than men. A substantial group of women emerged in the 1970s to oppose various rights for women, just as they did during the suffrage movement. They remain a potent force today.
    JEL: J01 J7 K31 N30
    Date: 2023–10
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:31762&r=his
  2. By: Juliette Blayac (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de 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)
    Abstract: The values of thrift have shaped the cultural and economic history of the United States. This morality advocates the practice of industry, frugality, self-sacrifice, and the accumulation of savings as a means of enriching the individual and society. From the 19 th century to the early 20 th century, American political economists preached these virtues. Jessica Peixotto (1864-1941), the first woman professor of economics at Berkeley, conducted a study of the cost of living of a group of university professors in 1927. She considered them an extremely thrifty but relatively poor social group. The purpose of this article is to explain this contradiction put forward by Peixotto. I examine how, in the early 20th century, the thrift culture took a practical turn with the Home Economics movement founded by Ellen H. Richards to educate women. Peixotto's study shows that professors' wives apply the precepts of thrift very well, making exemplary management of household resources. Thus, the problem lies in the low level of faculty salary. I argue that Peixotto shows an original point of view, linking thrift to poverty and thinking about the consequences of a thrifty ethos on the negotiation skills of university professors.
    Keywords: Jessica Peixoto, Thrift, Home Economics, Cost of Living studies, consumption, Wages, Professors, Women
    Date: 2023
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-04199584&r=his
  3. By: Sarah Quincy
    Abstract: This paper identifies how bank branching benefited local economies during the Great Depression. Using archival data and narrative evidence, I show how Bank of America's branch network in 1930s California created an internal capital market to diversify away local liquidity shortfalls, allowing it to maintain 49 percent higher credit growth from 1929 to 1933 than competing banking offices. The bank's presence caused smaller city property value contractions and stronger recoveries through 1940. Linked individual data show the bank’s proximity hastened the transition away from agricultural employment and towards human capital-intensive sectors in the 1930s, generating industrialization and higher wages.
    JEL: E44 G01 G21 N22 R23
    Date: 2023–10
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:31779&r=his
  4. By: maas, harro
    Abstract: This paper provides a personal reflection on the development, over 50 years, of the History of Economics Society. The (perhaps obvious) punchline is that history writing is not neutral, but entails stances about power and politics. These stances are all the more relevant in today's context, in which money buys history.
    Date: 2023–10–05
    URL: http://d.repec.org/n?u=RePEc:osf:socarx:5r8ad&r=his
  5. By: Schneider, Eric B.; Ogasawara, Kota; Cole, Tim
    Abstract: This article uses the health shock on Japanese civilians of the Second World War to understand the effects of health shocks at different developmental stages on children's long-run growth pattern and to test whether recovery is possible after an early-life health shock. We construct a prefecture-level dataset of mean heights of boys and girls aged 6–19 from 1929 to 2015. Linking the heights recorded at different ages for the same birth cohort, we measure a counterfactual causal effect of the health shocks during the Second World War on the cohort growth pattern of children. We find that the war effect was greatest for cohorts exposed to the war in late childhood and adolescence: these cohorts were 1.7–3.0 cm shorter at adulthood and had delayed pubertal growth and slower maturation than they would have had if the war had never occurred. However, there were no persistent health penalties for children exposed to the war in early life, suggesting that catch-up growth was possible as health conditions improved after the war. These findings challenge the thousand-days consensus that children cannot recover from nutritional shocks in early life and indicate that adolescence is a sensitive period for health shocks.
    Keywords: child growth; health shocks; catch-up growth; nutrition; Japan; Second World War
    JEL: N35
    Date: 2021–12–01
    URL: http://d.repec.org/n?u=RePEc:ehl:lserod:111948&r=his
  6. By: Harrison, Mark (University of Warwick, CEPR and CAGE.)
    Abstract: Economic warfare was a product of the total wars of the twentieth century. Four lessons are discussed: (1) Modern economies are resilient under attack. (2) The action of economic warfare is slow. (3) Economic warfare is powerful—eventually. (4) The threat of economic warfare is also powerful—although not always as hoped. To conclude, economic warfare belongs to wars of attrition. In such wars, economic and military measures are complements, not substitutes.
    Keywords: blockade, economic warfare, strategic bombing, strategy, war of attrition, World War I, World War II JEL Classification: H56, N44
    Date: 2023
    URL: http://d.repec.org/n?u=RePEc:cge:wacage:679&r=his
  7. By: Matringe, Nadia
    Abstract: This article explores the complex dynamics of financial innovation in early modern times, challenging linear models of temporal and spatial divisions that tend to shape our understanding of the evolution of financial systems. It supports the idea that innovation should be viewed as a non-linear and contextual process, involving diverse stakeholders and characterised by interactions and unexpected occurrences. The study focuses on the dissemination and trajectories of financial innovations, specifically the bill of exchange and its variation, the ricorsa, as well as the transferability and negotiability of commercial paper. It does so by investigating the interactions and exchanges between merchants and bankers from diverse backgrounds during the sixteenth-century Lyon fairs, using the archival records of one of the first Italian banks in Lyon (Salviati). The study reveals the mutual influence and acculturation among these agents and challenges the compartmentalisation of financial expertise. Through an analysis of transactions recorded in the Salviati bank's ledgers, the article highlights previously unknown uses of commercial paper by Southern merchant communities and discusses the factors that may have hindered the full-scale development of endorsement and discount in the Lyon trading networks, despite their potential benefits. The results provide insights into the intricate nature of financial innovation and the influence of structural and cultural factors on its development.
    Keywords: financial innovation; Lyon fairs; north-south divide; commercial paper; financial expertise; ricorsa; assignment; endoresement; discount; CUP deal
    JEL: N20 N80 O10 O30 P50
    Date: 2023–10–06
    URL: http://d.repec.org/n?u=RePEc:ehl:lserod:119986&r=his
  8. By: Becker, Sascha O. (Monash University); Rubin, Jared (Chapman University); Woessmann, Ludger (University of Munich)
    Abstract: We use the elements of a macroeconomic production function—physical capital, human capital, labor, and technology—together with standard growth models to frame the role of religion in economic growth. Unifying a growing literature, we argue that religion can enhance or impinge upon economic growth through all four elements because it shapes individual preferences, societal norms, and institutions. Religion affects physical capital accumulation by influencing thrift and financial development. It affects human capital through both religious and secular education. It affects population and labor by influencing work effort, fertility, and the demographic transition. And it affects total factor productivity by constraining or unleashing technological change and through rituals, legal institutions, political economy, and conflict. Synthesizing a disjoint literature in this way opens many interesting directions for future research.
    Keywords: religion, growth, Christianity, Judaism, Islam, preferences, norms, institutions, capital, saving, financial development, human capital, education, population, labor, demography, fertility, total factor productivity, technological change, rituals, political economy, conflict
    JEL: Z12 O40 N30 I25 O15
    Date: 2023–10
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp16494&r=his
  9. By: Marques Gomes, Luiz Henrique
    Abstract: Oskar Lange is generally known about his contribution in the debate on the feasibility of rational economic calculation under socialism. Although he is recognized as the theoretical "winner" of this debate, his contributions to economics extend over a wide range of topics and involve issues such as the economic organization of a society in transition to socialism, the relevance or not of econometrics, the meaning of Say's law and the use of cybernetics for economic planning. There are two points that are fundamental in Lange’s work, namely: (i) the economic viability of the socialist mode of production and (ii) the economics of the transition to socialism. The objective of the present article is to investigate Lange’s contributions in regard of these two points: the economic viability of socialism and the economics of the transition to socialism.
    Keywords: Oskar Lange, Socialism, Economic Planning, Law of Value, Market Socialism.
    JEL: B24
    Date: 2022–01
    URL: http://d.repec.org/n?u=RePEc:pra:mprapa:118552&r=his
  10. By: Naudé, Wim (RWTH Aachen University)
    Abstract: This paper provides a selective overview of destructive digital entrepreneurship. The concept is defined and elaborated in the context of the digital revolution post World War II. It is pointed out that the digital revolution was captured by the corporate sector: the incentives for unproductive and destructive entrepreneurship to subvert the digital revolution, was just too strong. Ten subsequent digital dystopias - adverse outcomes resulting from destructive digital entrepreneurship - are discussed. These are digital platform capitalism, tech exceptionalism, the surveillance state, the digital poorhouse, digital divides, the loss of sense-making, digital addiction, digital depression, cybercrime, and awful AI. The paper concludes by exploring how institutional and regulatory frameworks can best reduce the risks from destructive digital entrepreneurship.
    Keywords: digital entrepreneurship, digitalization, dystopia, institutions, surveillance state, digital platforms
    JEL: L26 L21 L53 O40
    Date: 2023–09
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp16483&r=his
  11. By: Michele Baggio (University of Connecticut); Alberto Chong (Georgia State University); Metin Cosgel (University of Connecticut)
    Abstract: We examine patterns of lethal socio-political violence in the United States between 1934 and 2010 and estimate the impact on income growth. The predominant type of violence shifted from riots to rampages over time. Whereas such incidents were heavily concentrated in the South before the 1960s, they spread to all regions by the twenty-first century. Using improved data measurement and applying a difference-in-difference approach designed for multiple types of events, we find that socio-political violence had a significant adverse effect on the growth of personal incomes. The magnitude was greater for racial violence than non-racial violence. Although the initial impact was immediate, it did not last long.
    Date: 2023–10
    URL: http://d.repec.org/n?u=RePEc:ays:ispwps:paper2320&r=his
  12. By: Gómez-Lobo, Andrés; Sánchez González, Santiago; González Mejia, Vileydy; Calatayud, Agustina
    Abstract: In this paper we explore the possible impact of urban congestion on agglomeration economies for a cross-section set of cities in Latin America. We use travel time data from Tom Tom to estimate wage regressions equations controlling for city size and congestion. We use population in each city in the 19th and early 20th century as instruments for current city size (measures by population). In our baseline estimates, we find an elasticity of wages to city size of 0.05, very similar to previous research in the region. When congestion is included in the estimation, we find that agglomeration economies are reduced. This holds even after using rain-days and average yearly as an instrument for congestion. Our results imply that congestion is a drag on economic productivity. This indirect cost of congestion is considerably larger economically than the direct cost measured as the loss of valuable time for citizens.
    Keywords: automovil;aglomeración;congestión;economic productivity;agglomeration economies
    JEL: R41 R48
    Date: 2022–02
    URL: http://d.repec.org/n?u=RePEc:idb:brikps:11952&r=his
  13. By: Serena Fiorletta (Department of Social Sciences and Economics, Sapienza University of Rome)
    Abstract: Social movement studies have devoted space to the women's and feminist movement since the 1970s, especially in its national declinations and regarding what was happening in Europe and the United States. Through the feminist sociologists that have defined a transnational perspective comprehended as an empirical and theoretical field, we have a reinterpretation of feminist movements, their past and new theoretical perspectives valuable to the entire field of inquiry. Focusing on a specific form of transnational feminism, which arose during the Conferences on Women organized by the United Nations, we can observe how certain classical theoretical assumptions applied to the phenomenon are questioned through its temporal and spatial dimensions, broadening the gaze and the possibilities of interpretation. The temporal dimension, punctuated by the collective actions of protest, did not allow us to see the continuity over time of feminism through its “abeyance structures” and a composite “social movement community” that brought into actors not foreseen by traditional theories of reference. In this way, we can redefine the temporality and quality of feminist action, allowing for a reorientation of the protest cycle theory. Instead, the transnational dimension, which becomes political practice and theoretical gaze, shows us feminisms in places other than those defined by the West. Indeed, spatiality shifts, showing the emergence of one of the first forms of intersectionality acted and theorized by women from the Global South. At the same time, crucial is the analysis of the role played by international institutions, such as the United Nations, which provided a political opportunity that enabled the emergence of transnational ideas and practices.
    Keywords: social movements, transnational feminism, intersectionality, United Nations
    JEL: D70 D71 D85 L31
    Date: 2023–05
    URL: http://d.repec.org/n?u=RePEc:saq:wpaper:5/23&r=his
  14. By: Noghanibehambari, Hamid (University of Wisconsin-Madison); Fletcher, Jason M. (University of Wisconsin-Madison)
    Abstract: A recently growing literature evaluates the influence of early-life conditions on life-cycle health and mortality. This paper extends this literature by estimating the associations between birth-state infant mortality rates experienced during early-life (as a proxy for general disease environment, health-care access, and nutrition) and life-cycle mortality rates. Using the universe of death records in the US over the years 1979-2020 and implementing two-way fixed effect models, we find that a 10 percent rise in birth-state infant mortality rate is associated with about 0.23 percent higher age-specific mortality rate. These correlations are more concentrated in ages past 50, suggesting delayed effects of early-life exposures. Moreover, we find substantially larger correlations among nonwhites, suggesting that the observed racial disparities in mortality can partly be explained by disparities in early-life conditions. Further, we provide empirical evidence to argue that reductions in education, income, and socioeconomic scores are likely mechanism channels.
    Keywords: mortality, infant mortality, early-life exposures
    JEL: I18 J13 N31 N32
    Date: 2023–10
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp16503&r=his
  15. By: Hiroshi FUKUYAMA; HASHIMOTO Yuki
    Abstract: This study aims to describe the history of the Technical Intern Training Program. Since its establishment in the early 1990s, this program has expanded and become indispensable for small and medium-sized enterprises, despite being criticized for the gap between its intended purpose and operation, human rights violations, and other issues. As the program has been frequently revised over its thirty-year history, it becomes increasingly difficult to take account of and review its history. We provide a comprehensive overview, covering not only the Technical Intern Training Program but also related policies such as the Foreign Trainee Program and the unrealized Employment Permit System, which played some roles in the prehistory of the Program. This study is expected to be used as a reference for policymakers and researchers.
    Date: 2023–09
    URL: http://d.repec.org/n?u=RePEc:eti:rpdpjp:23019&r=his
  16. By: Richard Hornbeck; Trevon Logan
    Abstract: We re-characterize American slavery as inefficient, whereby emancipation generated substantial aggregate economic gains. Coercive labor markets were severely distorted, with the social marginal cost of labor substantially above its marginal benefit. Production during enslavement came at immense costs imposed upon enslaved people that reduced aggregate economic surplus, or the total value of output minus total costs incurred. The costs of enslavement are inherently difficult to quantify, which leads to a wide range of quantitative estimates, but we calculate that emancipation generated aggregate economic gains worth the equivalent of a 4% to 35% increase in US aggregate productivity (7 to 60 years of technological innovation). Emancipation decreased output but sparked dramatic aggregate economic gains by decreasing costs substantially more, illustrating the substantial potential for aggregate economic gains in the presence of severe misallocation.
    JEL: J47 N31
    Date: 2023–10
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:31758&r=his
  17. By: Dionissi Aliprantis; Mukund Jayaram
    Abstract: Schools are one of the main determinants of lifetime employment and wages. In the 1950s and 60s, many Black leaders were concerned that Supreme Court rulings outlawing the racial segregation of schools might not effectively eliminate school segregation. This Economic Commentary uses data from Ohio to show that, even today, Black and white students attend largely separate K–12 schools that provide unequal educational opportunity.
    Keywords: education; racial inequality; Education - Ohio
    Date: 2023–10–16
    URL: http://d.repec.org/n?u=RePEc:fip:fedcwq:97151&r=his
  18. By: Sakib, S M Nazmuz
    Abstract: This study was undertaken to review the scope of attribution theory in business and economics. This research used the Scopus database to retrieve the data relevant to attribution theory. The preliminary search starts with the extraction of data from Scopus database using the attribution theory in their titles, abstracts, or keywords: “attribution theory”, “or attribution theory”, “attribution”, and “the attribution theory”. The search restricted itself to all the studies carried out in the English language and in the field of business and economics only. It excluded all those studies on attribution theory that related to other domains of knowledge. Only data that were reported in published manuscripts were extracted. Total 614 documents were shortlisted for bibliometric analysis. This study uses the R-studio software and biblioshiny package to perform this analysis along with Vosviewer. Both the software are open access. These studies were contributed by 1365 authors worldwide. The researches from 1975 till 2023 were considered for this current study.
    Date: 2023–10–13
    URL: http://d.repec.org/n?u=RePEc:osf:osfxxx:as3bg&r=his
  19. By: Paolini, Gabriele
    Abstract: A global trend towards the imposition of criminal convictions without trial has been described as one of the key features of contemporary criminal procedure. Such phenomenon is referred to as "administratization" of criminal convictions, and it is characterized by the reliance on plea bargaining and penal orders as ordinary means for disposing of criminal cases. The present paper first describes the history, current adoption, and variations in the legal design of such procedures. Later, it provides original data about the extent of administratization of criminal convictions in fifty-nine jurisdictions worldwide. Finally, it discusses possible beneficial and adverse effects of higher administratization rates on key aspects of criminal justice systems, and the challenges to the empirical assessment of such effects.
    Date: 2023
    URL: http://d.repec.org/n?u=RePEc:zbw:ilewps:74&r=his
  20. By: Edward N. Wolff
    Abstract: One hallmark of U.S. monetary policy since the early 1980s has been moderation in inflation (at least, until recently). How has this affected household well-being? The paper first develops a new model to address this issue. The inflation tax on income is defined as the difference between the nominal and real growth in income. This term is always negative (as long as inflation is positive). The inflation gain on household wealth is the revaluation resulting from asset price changes directly linked to inflation. This term can be positive or negative. The net inflation gain is the difference between the two, which can also be positive or negative. The empirical analysis covers years 1983 to 2019 on the basis of the Federal Reserve Board’s Survey of Consumer Finances (SCF) and historical inflation rates. It also looks at the sensitivity of the results to alternative inflation rates, and considers the effects of inflation on real wealth growth, wealth inequality, and the racial wealth gap. The results show that inflation boosted the real income of the middle wealth quintile by a staggering two thirds. In contrast, the bottom two wealth quintiles got clobbered by inflation, losing almost half of their real income. Inflation also boosted mean and especially median real wealth growth, reduced wealth inequality, and lowered the racial and ethnic wealth gap. Both the income and wealth results are magnified at higher (simulated) rates of inflation.
    JEL: D31 H31 J15
    Date: 2023–10
    URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:31775&r=his
  21. By: Kevin Guillas-Cavan (IRES - Institut de recherches économiques et sociales)
    Abstract: At its 20th congress, the Austrian Trade Union Federation tackled the question of climate change for the first time. Ordinarily, it leaves such discussions to the Social Democratic Party, but a weakening of the historical links between the federation and the party may be behind this major change. Union thinking on economic matters rests on three pillars: securing workers' career trajectories, public ownership of strategic businesses and strong development of social housing.
    Abstract: Au cours de son 20e congrès, la Confédération autrichienne des syndicats s'est emparée pour la première fois de la question du changement climatique. D'ordinaire, elle laisse de tels développements au Parti social-démocrate, mais l'affaiblissement des liens historiques entre la confédération et le parti explique ce changement majeur. La réflexion syndicale dans le domaine écologique repose sur trois piliers : une sécurisation des trajectoires professionnelles des travailleurs, la propriété publique des entreprises stratégiques et un très fort développement du logement social.
    Keywords: Trade unionism, Austria, Environment, Syndicat, Autriche, Environnement
    Date: 2023–09–12
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-04219104&r=his
  22. By: Daniel Aaronson; Daniel Hartley; Bhashkar Mazumder
    Abstract: We study the impact of the 1930s HOLC residential security maps on experienced segregation based on cell phone records which track visits out of and into home neighborhoods. We compare adjacent neighborhoods, one of which was assigned a lower grade for creditworthiness than the other. We use a sample of neighborhood borders which, based on estimated propensity scores, are likely to have been drawn for idiosyncratic reasons. Neighborhoods on the lower graded side of the border are associated with more visits to other historically lower graded destination neighborhoods. Today, these destination neighborhoods tend to have lower household income and, in some cases, lower educational attainment. We find that these disparities in visits are not driven by work commutes, very local visits, or differences in income. We also find similar disparities for incoming visits. Finally, we study the impact of the maps on non-residential segregation at the city level, based on a comparison of cities around a population cutoff that determined whether a city was included in the HOLC program. Using transition matrices, we describe visit probabilities across the distribution of home and destination neighborhood incomes. In cities with HOLC maps, visits across neighborhood income lines are less common, but this effect is less pronounced for the richest home neighborhoods. These findings suggest that these historical “redlining” maps affect non-residential segregation and the social interactions of urban residents in the present day.
    Keywords: Redlining; Access to credit; experienced segregation; Mobility
    JEL: R23 N32 N92 G21 J15
    Date: 2023–09
    URL: http://d.repec.org/n?u=RePEc:fip:fedhwp:96975&r=his
  23. By: John K. Dagsvik (Statistics Norway); Sigmund H. Moen
    Abstract: Weather and temperatures vary in ways that are difficult to explain and predict precisely. In this article we review data on temperature variations in the past as well possible reasons for these variations. Subsequently, we review key properties of global climate models and statistical analyses conducted by others on the ability of the global climate models to track historical temperatures. These tests show that standard climate models are rejected by time series data on global temperatures. Finally, we update and extend previous statistical analysis of temperature data (Dagsvik et al., 2020). Using theoretical arguments and statistical tests we find, as in Dagsvik et al. (2020), that the effect of man-made CO2 emissions does not appear to be strong enough to cause systematic changes in the temperature fluctuations during the last 200 years.
    Keywords: Global climate models; Climate change; Temperature analysis; Fractional Gaussian noise; Long-range dependence
    JEL: C22 C46 Q54
    Date: 2023–09
    URL: http://d.repec.org/n?u=RePEc:ssb:dispap:1007&r=his
  24. By: Klimanov, Vladimir (Климанов, Владимир) (The Russian Presidential Academy of National Economy and Public Administration); Timushev, Evgeny (Тимушев, Евгений) (The Russian Presidential Academy of National Economy and Public Administration)
    Abstract: The relevance of identifying the main trends in the system of powers legally assigned to the subjects of the Russian Federation is due to the lack of relevant work for more than twenty years of its existence. The purpose of the study is to establish the main trends in the evolution of the content and functional areas of the powers of the subjects of the Russian Federation within the joint jurisdiction of the Russian Federation and the subjects of the Russian Federation in accordance with the federal legislation. The object of the study is the mechanism of distribution of powers in the budgetary system of the Russian Federation. The hypothesis of the study was that during the long period of the formation of the mechanism of the distribution of powers, the goal of their clear differentiation was not achieved, independence of the state authorities remained low, and a new federal law regulating this area did not make cardinal changes. According to the results obtained, federal legislation allows for the actual expansion of the closed list of powers of the subjects of the Russian Federation on within the joint jurisdiction. Taking into account the possibility of delegating federal state powers and the absence of a closed list of powers of the Russian Federation, this causes the absence of a clear distribution of authority between the Russian Federation and the subjects of the Russian Federation. The tendency to expand the areas assigned to the subjects along with a constant amount of budget revenues actualize the risks of imbalance and financial instability. The novelty of the research consists in establishing the main trends in the evolution of the content and functional areas of the powers of the subjects of the Russian Federation within the joint jurisdiction of the Russian Federation and the subjects of the Russian Federation. For the first time, the nature of the change in the composition of powers due to the adoption of the new federal law No. 414-FZ instead of federal law No. 184-FZ are analyzed. Research methodology are structural and substantive analysis of federal legislation, grouping and systematization, comparative analysis.
    Keywords: expenditure powers, expenditure obligations, functional classification of expenditures, joint management, priority of execution, classification, federal legislation
    JEL: H72 H75 H76 H77
    Date: 2023–09–05
    URL: http://d.repec.org/n?u=RePEc:rnp:wpaper:w20220260&r=his
  25. By: Safaa Mrani (UH2MC - Université Hassan II [Casablanca]); Loulid Adil (UH2MC - Université Hassan II [Casablanca])
    Abstract: This paper provides a comprehensive overview of the corporate failure phenomenon, shedding light on its intricate nature, which has been a subject of continuous exploration since the Great Depression of 1929. This article adopts a methodological approach centered on a meticulous review of the relevant body of work. The findings of this analysis reveal that corporate failure can be defined as a gradual and complex process, resulting from a combination of various factors and events, including economic, financial, legal, and sometimes organizational aspects. This ultimately leads to the company's inability to sustainably fulfill its financial and operational obligations. Typically, failure is anticipated once signs of bankruptcy have been observed. In this context, the article extensively explores the mechanisms of corporate failure as initially formulated by the early pioneers in this discipline. Moreover, it conducts a comprehensive critical assessment of different models for predicting corporate failure. Keywords: Corporate failure, prediction model, bankruptcy, financial ratios
    Abstract: Le présent papier offre une vue d'ensemble complète du phénomène de la défaillance des entreprises, mettant en évidence la complexité intrinsèque de ce concept qui a suscité un intérêt soutenu depuis la Grande Dépression de 1929. Cet article s'appuie sur approche méthodologique basée sur une analyse documentaire approfondie de la littérature existante sur la problématique en question. Les résultats de cette analyse révèlent que la défaillance d'entreprise peut être définie comme un processus graduel et complexe, rassemblant une combinaison de facteurs et d'événements (économiques, financiers, juridiques et parfois organisationnels), menant à son incapacité à remplir de manière durable ses obligations financières et opérationnelles. Généralement, la défaillance est systématiquement anticipée une fois qu'une faillite est préalablement constatée. Dans ce contexte, cet article plonge profondément dans les processus de la défaillance d'entreprise tels qu'ils ont été élaborés par les pionniers de ce domaine. De plus, il propose une analyse critique des différents modèles de prédiction de la défaillance d'entreprise. Mots clés : Défaillance d'entreprise, modèle de prédiction, faillite, ratios financiers
    Keywords: Corporate failure prediction model bankruptcy financial ratios, African Scientific Journal, Défaillance d'entreprise, modèle de prédiction, faillite, ratios financiers, Défaillance d'entreprise modèle de prédiction faillite ratios financiers
    Date: 2023
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-04219260&r=his
  26. By: Vakhtang Putkaradze
    Abstract: Humans have been arguing about the benefits of dictatorial versus democratic regimes for millennia. For example, Plato, in The Republic, favored Aristocracy, , the enlightened autocratic regime, to democracy. Modern dictators typically come to power promising quick solutions to societal problems and long-term stability}. I present a model of a dictatorship with the country's best interests in mind. The model is based on the following premises: a) the dictator forces the country to follow the desired trajectory of development only from the information from the advisors; b) the deception from the advisors cannot decrease in time; and c) the deception increases based on the difficulties the country encounters. The model shows an improvement in the short term (a few months to a year), followed by instability leading to the country's gradual deterioration over many years. I derive some universal parameters applicable to all dictators and show that advisors' deception increases in parallel with the country's decline. In contrast, the dictator thinks the government is doing a reasonable, but not perfect, job. Finally, I present a match of the model to the historical data of grain production in the Soviet Union in 1928-1940}.
    Date: 2023–10
    URL: http://d.repec.org/n?u=RePEc:arx:papers:2310.01666&r=his
  27. By: Pessino, Carola; Altinok, Nadir; Chagalj, Cristian
    Abstract: There is scant empirical economic research regarding the way that Latin American governments efficiently allocate their spending across different functions to achieve higher growth. While most papers restrict their analysis to the size of government, much less is known about the composition of spending and its implications for long-term growth. This paper sheds light on how allocating expenditures to investment in quality human and physical capital, and avoiding waste on inefficient expenditures, enhance growth in Latin America. This paper uses a novel dataset on physical and human capital and detailed public spending that includes -for the first time- Latin American countries, which is categorized by a cross-classification that provides the breakdown of government expenditure, both, by economic and by functional heads. The database covers 42 countries of the OECD and LAC between 1985 and 2017. There are five main results. First, the estimated growth equations show significant positive effects of the factors of production on growth and plausible convergence rates (about 2 percent). The estimated effect of the physical investment rate is positive and significant with a long-run elasticity of 1.2. Second, while the addition of years of education as a proxy for human capital tends to have no effect on growth, the addition of a new variable that measures quality-adjusted years of schooling as a proxy for human capital turns out to have a positive and significant effect across all specifications with a long-run elasticity of 1.1. However, if public spending on education (excluding infrastructure spending) is added to the factor specification, growth is not affected. This is mainly because, once quality is considered, spending more on teacher salaries has no effect on student outcomes. Therefore, the key is to increase quality, not just school performance or education spending. Third, both physical and human capital are equally important for growth: the effect of increasing one standard deviation of physical capital or human capital statistically has the same impact on economic growth. Fourth, increasing public investment spending (holding public spending constant) is positive and significant for growth (a 1% increase in public investment would increase the long-term GDP per capita by about 0.3 percent), in addition to the effect of the private investment rate. However, the effect of public spending on payroll, pensions and subsidies does not contribute to economic growth. Fifth, the overall effect of the size of public spending on economic growth is negative in most specifications. An increase in the size of government by about 1 percentage point would decrease 4.1 percent the long-run GDP per capita, but the more effective the government is, the less harmful the size of government is for long-term growth.
    Keywords: government size;growth;human capital;Latin America;public spending
    JEL: H50 I20 O40 O54
    Date: 2022–06
    URL: http://d.repec.org/n?u=RePEc:idb:brikps:12276&r=his

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