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on Business, Economic and Financial History |
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Issue of 2023‒12‒18
29 papers chosen by |
| By: | Goodhart, Charles |
| JEL: | J1 |
| Date: | 2023–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120639&r=his |
| By: | Fass, Paula; Maslach, Christina |
| Abstract: | Interviews Conducted by Paula Fass and Christina Maslach; Introduction by Fass and Mashlach [505 pages] Interviewees: Clair Brown, Beth Burnside, Carol Christ, Carol Clover, Galen Cranz, Natalie Zemon Davis, Fiona Doyle, Paula Fass, Catherine Gallagher, Jewell Gibbs, Susan Graham, Leanne Hinton, Judith Klinman, Robin Lakeoff, Christina Maslach, Mary Ann Mason, Susan Matisoff, Karlene Roberts, Marjorie Shultz, Eleanor Swift, Ruth Tringham, Bonnie Wade, Marvalee Wake, Rhona Weinstein |
| Keywords: | Arts and Humanities, UC Berkeley, 150w Project, Women Faculty pioneers |
| Date: | 2023–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:cshedu:qt0bs5473x&r=his |
| By: | Swift, Eleanor |
| Keywords: | Arts and Humanities, University of California, Berkeley, 150 Years of Women, Law |
| Date: | 2023–10–30 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:cshedu:qt11w969tz&r=his |
| By: | Giacomo Gabbuti; Salvatore Morelli |
| Abstract: | Despite its relevance in 19th-century economics, wealth -its accumulation, composition, and distribution- has largely been neglected in Italian economic history. Filling this gap, we show that between the late 19th and mid-20th centuries, Italy presented a historically high value of total private wealth but had relatively small relevance in total bequests flows in proportion to national income. Then, we present novel estimates of wealth concentration between 1863 and 1914, combining national tabulations of inheritance tax records and microdata archives for Milan and Naples. During this period, wealth concentration in Italy was in line with the highest levels ever recorded since the late Middle Ages. Contrary to the evidence of declining income inequality in the period -traditionally considered the industrial 'take-off' phase of Italy- we find no clear signs of trends in wealth concentration or structural changes in wealth composition. This picture is confirmed and enriched by novel findings about wealth concentration at provincial and regional levels in the early 20th century. We show a great deal of heterogeneity beyond national aggregates but find no evidence of the classic North-South divide when looking at concentration. Likewise, we find no clear link between concentration levels and asset composition or economic development. Although contemporary inequality is much lower than early 20th-century figures, the 'real' wealth of present 'millionaires' seems much higher than that of historically rich individuals. Overall, the paper lays the basis for a very long-run view of wealth in Italy and reconsiders the impact of its industrialization at the end of the Liberal period. |
| Keywords: | inequality; inheritance; wealth; Liberal Italy; Southern Question |
| Date: | 2023–11–29 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2023/43&r=his |
| By: | Guillaume Blanc |
| Abstract: | This research shows that secularization accounts for the remarkably early fertility decline in France. The demographic transition, a turning point in history and an essential condition for development, first took hold in France, before the French Revolution and more than a century earlier than in any other country. Why it happened so early is one of the ‘big questions of history’ because it challenges traditional explanations and because of data limitations. Using a novel dataset crowdsourced from publicly available genealogies, I comprehensively document, for the first time, the decline in fertility and its timing with a representative sample of the population. Then, drawing on a wide range of sources and data, I document an important process of secularization in the eighteenth century and find a strong and robust association with the timing of the transition across regions and individuals. Finally, I discuss the persistent impact of the transition on economic growth and explore the drivers of secularization. |
| Keywords: | fertility; development; secularization |
| JEL: | N33 O10 Z12 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:man:sespap:2309&r=his |
| By: | Artunç, Cihan; Saleh, Mohamed |
| Abstract: | The transplantation of European legal systems in the periphery often occurred via semi-colonial institutions, where Europeans were subject to their own jurisdictions that placed them outside the reach of local courts. In nineteenth-century Egypt, the option of extraterritoriality was extended to local non-Muslims. Drawing on Egypt's population censuses in 1848 and 1868, we show that locals did not seek extraterritoriality to place themselves under more efficient jurisdictions. Rather, legal protection mitigated uncertainty about which law would apply to any contractual relationship in an environment where multiple legal systems co-existed and overlapped. |
| Keywords: | legal pluralism; extraterritoriality; protégé; non-Muslim minorities; Middle East; ANR-17-EURE-0010; Wiley deal |
| JEL: | N45 N35 K40 |
| Date: | 2023–11–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120443&r=his |
| By: | Bruno Caprettini; Hans-Joachim Voth |
| Abstract: | Do veterans earn less? During WW I, the US organized “the greatest human lottery in history”: a random draft of 24 million men. Ultimately, 2.8 million Americans were selected to join the armed forces. We sample 10% of registrants of the 1917 lottery and match these men with the 1930 and 1940 US Federal Censuses. Low lottery numbers significantly increased the likelihood of serving in World War I. Importantly, military service also had a positive causal effect on earnings and occupational outcomes. Veterans joined professions with higher cognitive skill requirements, including higher intelligence, language, reasoning, and math requirements. Randomly-assigned military service had fundamentally different effects during World War I than in Vietnam. We rationalize this finding by analyzing complier characteristics. |
| Keywords: | Veterans’ income, lottery, IV, effect of war participation |
| JEL: | N42 J45 I23 J24 N32 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:zur:econwp:441&r=his |
| By: | Guillaume Blanc; Masahiro Kubo |
| Abstract: | This paper studies nation-building in a fragmented society. We document the adoption of a common language and the construction of a national identity and ideology in France. Using a natural experiment and drawing on a novel dataset on the languages spoken across municipalities on the eve of the twentieth century, we establish that state intervention in the provision of education brought homogenization. To understand why nation-building was successful, we study heterogeneity and find that elites and the demand for education were instrumental in driving homogenization. Additionally, we explore persistent impacts on identity and ideology in the twentieth century, documenting increased participation in the French Resistance and reduced collaboration with the Nazis, alongside an increase in votes supporting political centralization. |
| Keywords: | nation-building; language; education |
| JEL: | P00 H52 I20 N40 Z13 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:man:sespap:2308&r=his |
| By: | Victor Gay; Paula Eugenia Gobbi; Marc Goñi |
| Abstract: | Customary law regulated most European societies during the middle ages and the early modern period. To better understand the roots of legalcustoms and their implications for long-run development, we introduce an atlas of customary regions of Ancien Régime France. We also describe thehistorical origins of French customs, their role as source of law, and their legal content. We then provide various insights into avenues of researchopened by this database |
| Keywords: | Customary law, Custom, Institution, Legal origin, Ancien Régime, France. |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/365276&r=his |
| By: | Cleo Chassonnery-Zaigouche (UNIBO - University of Bologna = Università di Bologna); Aurélien Goutsmedt (ISPOLE - UCL - Université Catholique de Louvain = Catholic University of Louvain, F.R.S.-FNRS) |
| Abstract: | Elisabeth Popp Berman's Thinking Like an Economist unfolds a captivating and detailed historical account of the rise of economics and economists' influence within the US Administration during the 1960s and 1970s. This transformation played a pivotal role in reshaping American policy, Berman argues. At the core of her story is the concept of an "economic style of reasoning", inspired by Ian Hacking's (1994) work. Berman's "economic style of reasoning" describes a distinct approach to policy problems, one anchored in microeconomic concepts (rather than macroeconomic ones) such as incentives, externalities, and efficiency. Crucially, the "economic style of reasoning" does not designate what some economists think, but rather, a set of ideas, related to economics but not completely overlapping with it, that are used in policy—not only by economists. Throughout 230 pages, Berman masterfully traces the progressive ascension of the economic style of reasoning within US administration, from its rise in the 1960s to its relative decline during the Reagan Presidency. "Efficiency" as a policy criterion gradually supplanted other foundational values that had long justified policy actions, values such as "rights, universalism, equity, and limiting corporate power" (4). These concepts were actually loosely used by the actors Berman is interested in. Berman posits that the dissemination of this style of reasoning exerted a profound influence by eroding the legitimacy of policy propositions rooted in alternative values, notably those championed by the left-wing of the Democratic party. One strength of the book is to show how the economic style of reasoning stuck and consolidated, even in the absence of economists, and how unusual suspects—center-left technocrats, favoring government intervention—were responsible for promoting a sense of ineluctability of its use. |
| Keywords: | Expertise, Economic expertise, Public policy, Style of reasoning, Neoliberalism |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04270601&r=his |
| By: | Dahl, Christian M. (University of Southern Denmark); Hansen, Casper W. (University of Copenhagen); Jensen, Peter S. (Linnaeus University); Karlsson, Martin (University of Duisburg-Essen); Kühnle, Daniel (University of Duisburg-Essen) |
| Abstract: | This study examines the impact of primary-school closures during the 1918 Pandemic in Sweden on mortality and long-term outcomes of school children. Using the universe of death certificates from 1914-1920 and newly-collected data on school closures across 2, 100 districts, we conduct high-frequency event studies at both weekly and daily intervals to show that schools closed in response to local surges in influenza deaths. Faster implementation of school closures significantly reduced peak mortality rates among primary-aged individuals. However, our long-run analysis of approximately 100, 000 affected children per grade shows precisely estimated, minor and mostly insignificant effects on longevity, employment, and income. |
| Keywords: | short- and long-run effects, human capital, mortality, 1918 Pandemic, school closures |
| JEL: | J10 N34 I10 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16592&r=his |
| By: | Barber, Luke (University of Western Australia); Jetter, Michael (University of Western Australia); Krieger, Tim (University of Freiburg) |
| Abstract: | Can religiosity sway a society's propensity for violence against outgroups? We first introduce two state-year-level religiosity measures for several pre-Enlightenment European states with the frequencies of (i) religious language in book publications and (ii) Christian names of newborns. To identify causal effects on warfare, we exploit the local visibility of solar eclipses – phenomena orthogonal to climatic, cultural, economic, environmental, and institutional developments that, in pre-Enlightenment Europe, were overwhelmingly viewed as supernatural, religious events. Accounting for dyad- and year-fixed effects, we observe positive, statistically significant, and quantitatively sizeable effects on subsequent attack war onset. Reduced form estimates, robustness checks (e.g., acknowledging dyad-specific time trends), and placebo exercises yield consistent patterns. Exploring mechanisms, religious terminology explicit to religious outgroups (specifically Jews and Muslims) spikes in solar eclipse years and predicts attack war onset, particularly against Islamic states. Finally, consistent with the idea of a religious primer highlighting ingroup-outgroup demarcations and exacerbating tensions along such lines, city-year-level solar eclipses also predict (i) Jewish expulsions and (ii) witch trials in pre-Enlightenment Europe. |
| Keywords: | religiosity, warfare, ingroup-outgroup demarcations, anti-Semitism, witch trials |
| JEL: | D74 F51 H56 N33 N43 Z12 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16586&r=his |
| By: | Mikhel, Dmitry (Михель, Дмитрий) (The Russian Presidential Academy of National Economy and Public Administration) |
| Abstract: | The rise of public health care in Germany was part of a modernization process, the first product of which was the state. As part of the cameralist policy of encouraging population productivity, the dignitaries of Prussia and other German states began to establish special authorities responsible for the health and well-being of the population as early as the late seventeenth century. The 18th century saw a bureaucratization of health management methods, with district doctors (Kreisphysickus) as representatives in the field. They were entrusted with a wide range of administrative responsibilities, but their social status remained low. Some of the district doctors became known as the authors of treatises on medical police, presenting their views on the development of public health. Their theories, however, were far removed from actual practice. The situation began to change only after 1848, when political events in Germany prompted a new generation of physicians to vigorously demand political, social and medical reforms. |
| Keywords: | Germany, modernization, public health, district doctors, medical police |
| Date: | 2023–06–14 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:wpaper:w20220280&r=his |
| By: | Victor Gay; Paula Eugenia Gobbi; Marc Goñi |
| Abstract: | This article describes the construction and content of an atlas of local jurisdictions of Ancien Régime France: bailliages. Bailliages were at thecenter of the Ancien Régime’s jurisdictional apparatus: they administered the ordinary royal justice, delimited the area of influence of different customary laws, and served as electoral constituencies for the Estates General of 1614 and 1789. Based on Armand Brette’s Atlas des Bailliages et Juridictions Assimilées published in 1904, we develop a historical geographic information system that contains shapefiles and associated data files ofbailliage courts at the time of the convocation of the Estates General of 1789. |
| Keywords: | Administrative boundary, Historical geographic information system, Jurisdiction, Bailliage, Institution, Ancien Régime, France |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/365275&r=his |
| By: | Fix, Blair |
| Abstract: | The rich get richer. It’s a phrase that packs a lot of punch. It’s potent rhetoric, yet surprisingly accurate at describing how rising inequality plays out. Of course, there’s nothing inevitable about the rich getting richer. We just happen to live in an age of growing corporate despotism. And our friends at Forbes have been there to document the disease. Forbes. Forbes who loves the free market. Forbes who loves obscene wealth. Forbes … the unwitting social scientist? When Malcolm Forbes started publishing his rich list — the Forbes 400 — back in 1982, he surely wasn’t intending to do social science. By all accounts, Forbes simply loved opulence, and wanted to celebrate those who had the most of it. It was part of a 1980s trend that fetishized obscene fortunes. For the middle class, there was the saccharine show ‘Lifestyles of the Rich and Famous’, which exalted the excesses of elite living. But for the upper class there was something less crass — a list that ignored the material trappings of wealth. It was called the Forbes 400, and it did nothing but report the raw numbers of capitalism — the capitalized wealth of the richest Americans. In hindsight, Malcolm Forbes’ obsession with wealth seems ominous — kind of like the Sackler’s claim that OxyContin wasn’t addictive. But while Malcolm Forbes certainly cheerled the excesses of modern capitalism, he (and his magazine successors) also left an exquisite record of how US elites enriched themselves. Sure, the enrichment left a big mess. But for the moment, let’s forget about cleaning it up and instead, investigate how it happened. Come, let’s look at how the American rich got richer. |
| Keywords: | billionaires, corporation, distribution, ownership |
| JEL: | P P1 D3 G3 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:279881&r=his |
| By: | Bichler, Shimshon; Nitzan, Jonathan |
| Abstract: | 지난 세기 동안 제국주의와 금융주의의 결합은 마르크스주의 이론과 실천에서 중심축이었다. 수많은 마르크스주의자가 이 결합이 전 세계를 병폐에 빠뜨린 원인이라 생각했다. 하지만 시간이 지남에 따라 그들이 이 결합에 부과한 역사적 역할은 극적으로 변했다. 핵심적으로 변화한 것은 잉여와 유동성 흐름의 성격과 방향이었다. 20세기로 접어들면서 제국주의와 금융주의의 결합체가 명확해졌다. 그 결합체의 첫 번째 구현 형태는 금융 자본이 ‘초과’ 잉여를 수출할 수 있는 식민지를 얻기 위해 제국주의자들이 벌인 쟁탈전을 설명했다. 다음 두 번째 버전에선 중심부의 잉여가 국내로 흡수되고 군사 지출과 금융 중개라는 ‘블랙홀’로 빨려 들어가는 독점 자본주의의 신제국주의적 세계를 상정했다. 세 번째 스크립트는 종속적인 주변부에서 금융 중심부로 잉여가 유입되는 세계체계를 가정했다. 그리고 가장 최근 판본은 미국이라는 중심부의 공동화를 설명한다. 즉, 중심부인 미국은 이미 자체 생산 연료의 상당 부분을 태워버렸고 이제는 세계체계의 외부 유동성을 사용하고자 나머지 세계를 ‘금융화’하는 ‘적색 거성’이다. 본 논문은 마치 카멜레온과 같은 이러한 변형의 윤곽을 보여준다. 그리고 그 결합체에서 놓친 게 무엇인지 따져본 뒤, 이를 유지할 가치가 있는지 묻는다. |
| Abstract: | Over the past century, the nexus of imperialism and financialism has become a major axis of Marxist theory and praxis. Many Marxists consider this nexus to be a prime cause of our worldly ills, but the historical role they ascribe to it has changed dramatically over time. The key change concerns the nature and direction of surplus and liquidity flows. The first incarnation of the nexus, articulated at the turn of the twentieth century, explained the imperialist scramble for colonies to which finance capital could export its excessive surplus. The next version posited a neo-imperial world of monopoly capitalism where the core's surplus is absorbed domestically, sucked into a black hole of military spending and financial intermediation. The third script postulated a World System where surplus is imported from the dependent periphery into the financial core. And the most recent edition explains the hollowing out of the U.S. core, a red giant that has already burned much of its own productive fuel and is now trying to financialize the rest of the world in order to use the system's external liquidity. The paper outlines this chameleon-like transformation, assesses what is left of the nexus and asks whether it is worth keeping. |
| Keywords: | capital, dependency, finance, hegemony, imperialism, Marxism, monopoly, world systems |
| JEL: | P16 F02 F23 F3 F5 F54 F6 F42 L12 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:279834&r=his |
| By: | Fabio Blasutto; David de la Croix |
| Abstract: | Abstract Censorship makes new ideas less available to others, but also reduces the number of people choosing to develop non-compliant ideas. We propose a new method to measure the effect of censorship on knowledge growth, accounting for the agents’ choice between compliant and non-compliant occupations. We apply our method to the Catholic Church’s censorship of books written by members of Italian universities and academies over the period 1400–750. We highlight new facts: once censorship was introduced, censored authors were of better quality than the non-censored authors, but this gap shrank over time and the intensity of censorship decreased over time. We use these facts to identify the deep parameters of a novel endogenous growth model that links censorship to knowledge diffusion and occupational choice. We conclude that the average log publication per scholar in Italy would have been 43% higher if censorship had not been present, while the effect of adverse macroeconomic processes is almost four times smaller. The induced reallocation of talents towards compliant activities explains half the effect of censorship. |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/364712&r=his |
| By: | Daniel Albalate (Department of Economics, Statistics & Applied Economics. John Keynes 1-11, 08034 Barcelona. +34934021943, Spain.); Germà Bel (Department of Economics, Statistics & Applied Economics. John Keynes 1-11, 08034 Barcelona, Spain. + 34934021946); Ferran A. Mazaira-Font (Department of Economics, Statistics & Applied Economics. John Keynes 1-11, 08034 Barcelona. + 34934021943.); Xavier Ros-Oton (Department of Mathematics & Informatics. Gran Via de les Corts Catalanes 585, 08007 Barcelona, Spain. + 34934039330) |
| Keywords: | Military alliances, Trade, Defense spending. JEL classification: H56, F19, F50, D74. |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:202317&r=his |
| By: | Victor Gay; Paula Eugenia Gobbi; Marc Goñi |
| Abstract: | We test Le Play’s (1875) hypothesis that the French Revolution contributed to France’s early fertility decline. In 1793, a series of inheritance reforms abolished local inheritance practices, imposing equal partition of assets among all children. We develop a theoretical framework that predicts a decline in fertility following these reforms because of indivisibility constraints in parents’ assets. We test this hypothesis by combining a newly created map of pre-Revolution local inheritance practices together with demographic data from the Henry database and from rowdsourced geneaologies in Geni.com. We provide difference-in-differences and regressiondiscontinuity estimates based on comparing cohorts of fertile age and cohorts too old to be fertile in 1793 between municipalities where the reforms altered and did not alter existing inheritance practices. We find that the 1793 inheritance reforms reduced completed fertility by half to one child, closed the pre-reform fertility gap between different inheritance regions, and sharply accelerated France’s early fertility transition. |
| Keywords: | Demographic transition, Fertility, French Revolution, Inheritance |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:eca:wpaper:2013/365273&r=his |
| By: | Daniel Oto-Peralías (Department of Economics, Universidad Pablo de Olavide) |
| Abstract: | This paper explores the link between the historical presence of communal goods and the emergence of social capital. I conduct a survey to compare individuals from a town where communal lands have persisted since medieval times with individuals from neighboring-similar towns. I find that individuals exposed to communal lands have higher local social capital as they trust their neighbors more, have more local altruism, are more interested in local politics, and have a better knowledge about the town’s politics and history. Importantly, the effect is mainly present in individuals with family roots in the town, and there is no evidence of a positive effect on social capital beyond the local community. |
| Keywords: | common lands, social capital, history, Spain. |
| JEL: | N36 D64 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pab:wpaper:23.09&r=his |
| By: | Jaime Bonet-Morón; Andrés Gómez-Parra; Lucas Rodríguez-Echeverry |
| Abstract: | Los países de la Cuenca del Caribe tienen una tradición en la producción de café a partir de la entrada del grano a América por esta zona en el siglo XVIII. A pesar de que la región perdió influencia en el mercado internacional del café en el siglo XX, el cultivo mantiene una importancia en la generación de divisas y empleo en los países productores. El objetivo de este documento es describir el estado del cultivo del café en la Cuenca del Caribe en el periodo 2000-2021. Para ello, inicialmente se presenta el panorama del mercado mundial del grano, destacando los principales productores, exportadores e importadores, así como el rendimiento por hectárea y el precio internacional. Posteriormente, se revisan los principales indicadores del cultivo en los países de la Cuenca del Caribe, para identificar las principales tendencias en la región en las últimas dos décadas. En general, se encuentra que la actividad ha venido perdiendo participación en la mayoría de los países de la Cuenca, con la excepción del dinamismo que exhiben algunos países centroamericanos, en particular Honduras, Guatemala y Nicaragua. **** ABSTRACT: The countries of the Caribbean Basin have a tradition in coffee production since the grain entered America through this area in the 18th century. Although the region lost importance in the international coffee market in the 20th century, the crop maintains its significance in generating foreign exchange and employment in producing countries. The objective of this document is to describe the state of coffee cultivation in the Caribbean Basin in the period 2000-2021. To do this, initially the panorama of the world grain market is presented, highlighting the main producers, exporters, and importers, as well as the yield per hectare and the international price. Subsequently, the main crop indicators in the countries of the Caribbean Basin are reviewed to identify the main trends in the region in the last two decades. In general, it is found that the activity has been losing participation in most of the countries of the Caribbean Basin, except for the dynamism exhibited by some Central American countries, particularly Honduras, Guatemala, and Nicaragua. |
| Keywords: | Café, Cuenca del Caribe, mercado internacional, Coffee, Caribbean Basin, international market |
| JEL: | N56 N96 Q18 |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:bdr:region:320&r=his |
| By: | Buscha, Franz; Gorman, Emma; Sturgis, Patrick; Zhang, Min |
| Abstract: | Home ownership is the largest component of wealth for most households and its intergenerational transmission underpins the production and reproduction of economic inequalities across generations. Yet, little is currently known about ethnic differences in the intergenerational transmission of housing tenure. In this paper we use linked Census data covering 1971-2011 to document rates of intergenerational housing tenure mobility across ethnic groups in England and Wales. We find that while home ownership declined across all ethnic groups during this period, there were substantial differences between them. Black, Pakistani and Bangladeshi households experienced the strongest intergenerational link between parent and child housing tenure, and Black individuals had the highest rates of downward housing mobility. In contrast, those of Indian origin had homeownership rates similar to White British families, and a weaker link between parent and child housing tenure. These patterns are likely to exacerbate existing gradients in other dimensions of ethnicity-based inequality, now and in the future. |
| Keywords: | housing; social mobility; wealth transmission; ethnicity; ES/R00627X/1 |
| JEL: | J62 R31 P46 |
| Date: | 2023–10–19 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:120674&r=his |
| By: | Elena Pojman (Max Planck Institute for Demographic Research, Rostock, Germany); Duke Elijah Mwedzi (Max Planck Institute for Demographic Research, Rostock, Germany); Orlando Olaya Bucaro (Max Planck Institute for Demographic Research, Rostock, Germany); Stephanie Zhang (Max Planck Institute for Demographic Research, Rostock, Germany); Michael Chong; Monica Alexander (Max Planck Institute for Demographic Research, Rostock, Germany); Diego Alburez-Gutierrez (Max Planck Institute for Demographic Research, Rostock, Germany) |
| Abstract: | Demographic studies consistently find a mortality advantage among migrants, but a lack of longitudinal data tracking individuals across national borders has limited the study of historical international migration. To address this gap, we use the crowd-sourced online genealogical database Familinx to estimate the migrant mortality advantage for migrants from the United Kingdom and Ireland between 1750 and 1910. We compare age at death for non-migrants and migrants to Canada, the United States, South Africa, New Zealand, and Australia using mixed-effects regression models that account for unobserved factors shared between siblings. Results suggest an overall expected migrant advantage of 5.9 years, 95% CI [5.7, 6.2] even after accounting for between-family variation, with migrants estimated to live an additional 2.6 [1.1, 4.0] to 8.7 [6.3, 11.2] years depending on the country of destination. This study contributes to the understanding of the migrant mortality advantage in a historical context and shows the potential for online genealogies to contribute to demographic research. Keywords: crowd-sourced genealogies, migrant mortality advantage, United Kingdom, Ireland, sibling effects |
| Keywords: | Australia, Canada, New Zealand, United Kingdom, USA, genealogy, migration, mortality, siblings |
| JEL: | J1 Z0 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:dem:wpaper:wp-2023-050&r=his |
| By: | Amirmohammad Nateghi; Maedeh Mosharraf |
| Abstract: | Although it has a history that goes back about three decades, Metaverse has grown to be one of the most talked-about subjects today. Metaverse gradually increased its influence in the realm of business discourse after initially being restricted to discussions about entertainment. Before getting deep into the Metaverse, it should be noted that failure and deviating from the business path are highly likely for an enterprise that relies heavily on information technology (IT) because of improper use and thinking about IT. The idea of enterprise architecture (EA) emerged as a management strategy to address this issue. As the first school of thought of EA, it sought to transform IT from an unnecessary burden in an enterprise to a guiding and supporting force. Then an extended EA model is suggested as a result of the attempt made in this paper to use the idea of EA to steer virtual enterprises on Metaverse-based platforms. Finally, to evaluate the conceptual model and demonstrate that the Metaverse can support businesses, three case studies Decentraland, Battle Infinity, and Rooom were utilized. |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2311.11406&r=his |
| By: | Jakub Growiec; Julia Jabłońska; Aleksandra Parteka |
| Abstract: | Output is generated through purposefully initiated physical action. Production needs energy and information, provided by respective factors: hardware (“brawn”), including physical labor and physical capital, and software (“brains”), encompassing human cognitive work and pre-programmed software, in particular artificial intelligence (AI). From first principles, hardware and software are essential and complementary in production, whereas their constituent components are mutually substitutable. This framework generalizes the neoclassical model of production with capital and labor, models with capital-skill complementarity and skill-biased technical change, and unified growth theories embracing also the pre-industrial period. Having laid out the theory, we provide an empirical quantification of hardware and software in the US, 1968-2019. We document a rising share of physical capital in hardware (mechanization) and digital software in software (automation); as a whole software has been growing systematically faster than hardware. Accumulation of digital software was a key contributor to US economic growth. |
| Keywords: | production function, technological progress, complementarity, automation, artificial intelligence |
| JEL: | O30 O40 O41 |
| Date: | 2023–09 |
| URL: | http://d.repec.org/n?u=RePEc:sgh:kaewps:2023091&r=his |
| By: | Anthony de Grandi (PHARE - Philosophie, Histoire et Analyse des Représentations Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne); Christian Tutin (LAB'URBA - LAB'URBA - UPEM - Université Paris-Est Marne-la-Vallée - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12) |
| Abstract: | Cette communication examine la relation entre facteurs réels et facteurs monétaires dans la théorie des crises de Marx. Après une présentation des concepts avancés par Marx, notamment celui de capital fictif, est présentée sa vision de l'instabilité financière, puis le lien possible entre crise financière et crise de reproduction, en suivant les intuitions de Rudolf Hilferding. |
| Keywords: | Marx, Théorie des crises, Instabilité financière |
| Date: | 2022–05–18 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04284569&r=his |
| By: | Cedric Durand (University of Geneva); Céline Baud (DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article explores the metamorphosis of profit-making and profit uses in the context of retailing's digital transition. To assess the qualitative mutations of the sector, it is not enough to focus on technological changes since the unequal operational development of firms is also the outcome of managerial strategies and financial policies. This research analyses them from an economic and accounting perspective. The contribution is twofold. First, at the conceptual level, it proposes an original combinatory outlook on value creation and value appropriation to account for the diversity of profit trajectories in the context of retail digitalization. Second, at the empirical level, it gathers essential information concerning the mutation of the sector based on a comparative analysis of the strategies and trajectories of Walmart—the industry leader—and two of its main challengers since the mid-nineties: the main historical rival, Carrefour, and the new entrant, Amazon. Stylized facts about their respective financial trajectories and a description of their engagement with digitalization enable the identification and the interpretation of their distinct dynamics. Beyond the retail sector, this article brings fresh insights to the wider literature on intellectual monopoly by questioning the nature of investment and the transformation of cost structure in the digital age. |
| Keywords: | Retailing, digitalization, profits, accounting, intellectual monopoly |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04262663&r=his |
| By: | Jean-Baptiste Michau (Ecole Polytechnique, France); Yoshiyasu Ono (Institute of Social and Economic Research, Osaka University, Japan); Matthias Schlegl (Sophia University, Japan) |
| Abstract: | What are the consequences of the preference for wealth for the accumulation of capital and for the dynamics of wealth inequality? Assuming that wealth per se is a luxury good, inequality tends to rise whenever the interest rate is larger than the economic growth rate. This induces the economy to converge towards an equilibrium with extreme wealth inequality, where the capital stock is equal to the golden rule level. Far from immiseration, this equilibrium results in high wages and in the golden rule level consumption for ordinary households. We then introduce shocks to the preference for wealth and show that progressive wealth taxation prevents wealth from being held by people with high saving rates. This permanently reduces the capital stock, which is detrimental to the welfare of future generation of workers. This also raises the interest rate, to the benefit of the property-owning upper-middle class. By contrast, a progressive consumption tax successfully and persistently redistributes welfare from the very rich to the poor. |
| Keywords: | Capital accumulation, Progressive wealth tax, Wealth inequality, Wealth preference |
| JEL: | D31 E21 E22 H20 |
| Date: | 2023–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:crs:wpaper:2023-11&r=his |
| By: | Fix, Blair |
| Abstract: | Economists are not known for their literary imaginations. Flip through any economics textbook and you’ll find a barrage of terms like the ‘Philips curve’ and the ‘Fisher effect’. The jargon is simple enough — empirical relations are usually named after the person who discovered them. But this convention is neither descriptive nor fun. The exception to this vanilla naming practice is a pattern called the ‘Great Gatsby curve’. It’s named after F. Scott Fitzgerald’s famous book The Great Gatsby, which explores the roiling inequality and tumultuous class dynamics of the 1920s. The Great Gatsby curve is an empirical relation between social inequality and social mobility. As inequality rises, social mobility tends to decline. In this post, we’ll look at the The Great Gatsby curve among America’s über rich. As it turns out, these folks are not immune from inequality. Nor are they immune from an ossifying social ladder. In other words, among America’s richest people, the Great Gatsby curve is alive and well. |
| Keywords: | billionaires, corporation, distribution, ownership, United States |
| JEL: | P P1 D3 G3 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:279883&r=his |