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on Business, Economic and Financial History |
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Issue of 2024‒03‒18
38 papers chosen by |
| By: | Meardon, Stephen |
| Abstract: | The avowed challenges of editing the JHET during the years 2013-2018 included maintaining the journal’s broad historiographical embrace and protesting the ubiquitous references to 2-year impact factors as a measure of its scholarly relevance. The greater challenge, which the editor took up by habitude more than deliberation, was bringing authors representing a variety of contents, methods, and historical and social values into meaningful conversation with each other. It amounted to editorial policy as a scholarly conversation aid. It should be applied more deliberately. |
| Date: | 2024–02–16 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:rx7ft&r=his |
| By: | Berry, Mary Elizabeth |
| Keywords: | Arts and Humanities |
| Date: | 2024–03–03 |
| URL: | http://d.repec.org/n?u=RePEc:cdl:cshedu:qt98t2c7nf&r=his |
| By: | Karol Jan Borowiecki (University of Southern Denmark); Martin Hørlyk Kristensen (University of Southern Denmark); Marc T. Law (University of Vermont) |
| Abstract: | Ludwig van Beethoven, Johann Sebastian Bach, and Frédéric Chopin are household names, but few will recognize Francesca Caccini, Elisabeth Lutyens or Amy M. Beach, who are among the top-10 female composers of all time. Why are female composers overshadowed by their male counterparts? Using novel data on over 17, 000 composers who lived from the sixth to the twentieth centuries, we conduct the first quantitative exploration of the gender gap among classical composers. We use the length of a composer’s biographical entry in Grove Music Online to measure composer prominence, and shed light on the determinants of the gender gap with a focus on the development of composers’ human capital through families, teachers, and institutionalized music education. The evidence suggests that parental musical background matters for composers’ prominence, that the effects of teachers vary by the gender of the composer but the effects of parents do not, and while musician mothers and female teachers are important, they do not narrow the gender gap in composer prominence. We also find that the institutionalization of music education in conservatories increases the relative prominence of female composers. |
| Keywords: | gender gap, human capital, music education, music history, student-teacher interactions, conservatories |
| JEL: | I23 J16 J24 N30 Z11 |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:hes:wpaper:0252&r=his |
| By: | Edwards, Sebastián |
| Abstract: | In this paper I analyze the work on exchange rates and external imbalances by University of Chicago faculty members during the university’s first hundred years, 1892-1992. Many people associate Chicago’s views with Milton Friedman’s advocacy for flexible exchange rates. But, of course, there was much more than that, including the work of J. Laurence Laughlin on bimetallism, Jacob Viner on the balance of payments, Lloyd Metzler on transfers, Harry Johnson on trade and currencies, Lloyd Mints on exchange rate regimes, Robert Mundell on optimal currency areas, and Arnold Harberger on shadow exchange rates, among other. The analysis shows that, although different scholars emphasized different issues, there was a common thread in this research, anchored on the role of relative prices’ changes during the adjustment process. |
| Date: | 2024–02–16 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:vrtns&r=his |
| By: | McLaughlin, Eoin; Whelehan, Niall |
| Abstract: | Analysis of excess mortality holds the potential to revise understandings of key moments in modern Irish history. Yet aside from studies of the Great Famine, it has been neglected by historians of Ireland. Examining rates of excess mortality across post-Famine Ireland reveals that the Land War crisis of 1877-1882, a transformational period, was one of the worst public health crises of modern Irish history. In fact, during the years 1878-1880 excess mortality levels were much higher than during any other period from when registration records began in 1864 up to the present day. Western regions, particularly Co. Mayo, have long been considered the worst affected by this crisis, but from the perspective of excess mortality, we establish that this was an islandwide crisis and one that was more severe that previously understood. The study of excess mortality in Irish history has been neglected partly because of some concerns expressed by scholars about the reliability of the source material in the annual statistical reports of the Registrar General. Yet, we document the reliability of the registers by cross-referencing with census returns, demonstrating their accuracy in the 1870s and 1880s, and their importance as sources to provide vital insights and context in modern Irish history. |
| Keywords: | Land War, Excess Mortality, Ireland |
| JEL: | N13 N33 I18 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:hwuaef:283610&r=his |
| By: | Seltzer, Andrew (Royal Holloway, University of London) |
| Abstract: | The Victorian Factories and Shops Act of 1896, the second minimum wage law in the world, empowered administrative agencies ("Special Boards") to set trade-specific minimum rates based on age, sex, and occupation. Much like modern debates, Victorian supporters of minimum wages argued that they would protect vulnerable workers while opponents argued that they would increase employers' costs, resulting in unintended consequences for workers. Evidence from the actual minimum wages passed under the Act suggests that Boards were loosely constrained by market factors, but also that they had some discretion in minimum wage setting. This discretion was used differently by individual Boards; some essentially followed the market for their trades while others set minimum rates that were binding for at least some workers. To the extent that rates were binding, they tended to reduce inequality among adult male workers, particularly after a 1907 Federal ruling established a living wage for employers with operations in multiple states. However, minimum wages also increased inequality across groups, increasing wages of adult men relative to those of women and youths. The Act formally institutionalised gender-based pay differences, a practice that continued in Australian minimum wage setting for over 70 years. |
| Keywords: | minimum wages, Australia, protective legislation |
| JEL: | N47 N37 J88 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16788&r=his |
| By: | Sepp, Tim Florian; Israel, Karl-Friedrich; Treitz, Benjamin; Hartl, Tom |
| Abstract: | The resilience of the German banking system is studied on the semiaggregated level from 1968 to 2022. We distinguish between Large Banks, Regional Banks, Landesbanken, Sparkassen and Credit Unions and study their z-scores as a measure of resilience in response to the monetary policy stances of the Bundesbank and the ECB, respectively. We estimate two-way fixed effects panel regression models for both periods separately. The results suggest that monetary policy was more effective in enhancing resilience during the period of a national currency controlled by the Deutsche Bundesbank. The effect across bank types is much more heterogeneous after the inception of the ECB. In particular, decreasing resilience of Large Banks is associated with expansionary (un)conventional monetary policy in recent years. |
| Keywords: | Resilience, Monetary Policy, Banking, Financial Stability, Germany, Deutsche Bundesbank, ECB, Credit Union, Sparkasse |
| JEL: | E42 E52 G21 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:leiwps:283608&r=his |
| By: | Fabio Braggion; Felix von Meyerinck; Nic Schaub; Michael Weber |
| Abstract: | We study the long-term effects of inflation surges on inflation expectations. German households living in areas with higher local inflation during the hyperinflation of the 1920s expect higher inflation today, after partialling out determinants of historical inflation and current inflation expectations . Our evidence points towards transmission of inflation experiences from parents to children and through collective memory. Differential historical inflation also modulates the updating of expectations to current inflation, the response to economic policies affecting inflation, and financial decisions. We obtain similar results for Polish households residing in formerly German areas. Overall, our findings are consistent with inflationary shocks having a long-lasting impact on attitudes towards inflation. |
| JEL: | D14 E31 E71 G41 N14 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32160&r=his |
| By: | Emmanuelle Augeraud-Veron (GRETHA, University of Bordeaux, FR); Raouf Boucekkine (CUT, Rennes School of Business, FR); Fausto Gozzi (LUISS Guido Carli, Rome, IT); Alain Vendetti (Aix-Marseille University, CNRS, AMSE, Marseille, FR); Benteng Zou (DEM, Université du Luxembourg) |
| Abstract: | We present an overview of selected contributions of the Journal of Mathematical Economics' authors to growth theory in the last half century. We start with the classical optimal growth theory within a benchmark multisector model and outline the successive developments in the analysis of this model, including the turnpike theory. Different refinements of the benchmark are considered along the way. We then survey the abundant literature on endogenous uctuations in two sector models. We conclude with two strong trends in the recent growth literature: green growth and infinite-dimensional growth models. |
| Keywords: | Growth theory, multisector models, turnpike theory, green growth, infinite-dimensional growth models, optimization. |
| JEL: | C60 C61 O41 |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:luc:wpaper:24-02&r=his |
| By: | Chiaki Moriguchi; Yusuke Narita; Mari Tanaka |
| Abstract: | What happens if selective colleges change their admission policies? We answer this question by analyzing the world's first introduction of nationally centralized meritocratic admissions in the early twentieth century. We find a persistent meritocracy-equity tradeoff. Compared to the decentralized system, the centralized system admitted more high-achieving applicants, producing a greater number of top elite bureaucrats in the long run. However, this impact came at the distributional cost of equal regional access to elite higher education and career advancement. Several decades later, the meritocratic centralization increased the number of urban-born career elites (e.g., top income earners) relative to rural-born ones. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.04429&r=his |
| By: | Bart Hobijn; Robert S. Kaplan |
| Abstract: | During the Second Industrial Revolution, in the late nineteenth century, the proliferation of automation technologies coincided with substantial job creation but also a “hollowing out” of middle-skilled job opportunities, which historically offered reliable paths to prosperity. We use recently linked U.S. census data to document three main facts: (i) declining demand for middle-skilled labor in manufacturing corresponded to greater reallocation of workers into comparatively less-skilled occupations; (ii) older workers were more likely to switch to unskilled physical labor; (iii) younger workers led switching into growing occupations affected by automation technologies. |
| Keywords: | Automation; Occupational choice |
| JEL: | J62 N31 N32 O33 |
| Date: | 2024–02–07 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedhwp:97793&r=his |
| By: | Angel De la Fuente |
| Abstract: | En este Documento de Trabajo se describe brevemente la última actualización de RegData, una base de datos que recoge los principales agregados económicos y demográficos de las regiones españolas durante las últimas seis décadas. This Working Paper provides a brief description of the latest update of RegData, a database that collects the main economic and demographic aggregates of Spanish regions over the last six decades. |
| Keywords: | homogeneous series, series homogéneas, income, renta, regional population of Spain, población regional de España, Employment, Empleo, Spain, España, Regional Analysis Spain, Análisis Regional España, Working Paper, Documento de Trabajo |
| JEL: | E01 R1 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:bbv:wpaper:2403&r=his |
| By: | Serra, Gerardo |
| Abstract: | Review of “Poverty and Wealth in East Africa: A Conceptual History” by Rhiannon Stephens. |
| Date: | 2024–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:ayjnz&r=his |
| By: | Robert J. Barro |
| Abstract: | The potential for rare economic disasters explains a lot of asset-pricing puzzles. I calibrate disaster probabilities from the twentieth century global history, especially the sharp contractions associated with World War I, the Great Depression, and World War II. The puzzles that can be explained include the high equity premium, low risk-free rate, and volatile stock returns. Another mystery that may be resolved is why expected real interest rates were low in the United States during major wars, such as World War II. The model, an extension of work by Rietz, maintains the tractable framework of a representative agent, timeadditive and isoelastic preferences, and complete markets. The results hold with i.i.d. shocks to productivity growth in a Lucas-tree type economy and also with the inclusion of capital formation. |
| Date: | 2024–02–17 |
| URL: | http://d.repec.org/n?u=RePEc:cuf:wpaper:620&r=his |
| By: | Sergiu Ghica (University of Bucharest, Romania) |
| Abstract: | This paper presents William Lane Craig as a proponent of classical apologetics and explores his influence on the content and structure of contemporary discussions. These dialogues encompass a wide spectrum, ranging from historical studies of Jesus and His resurrection to cosmological and moral evidence of God's existence, as well as the coherence of Christian theism. In the last part of this paper, we will highlight Craig's notable contribution to the contemporary field of apologetics. |
| Keywords: | classical apologetics, Christian faith, evidence, truth, kalÄ m cosmological argument |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0315&r=his |
| By: | BRILLANT, Lucy |
| Abstract: | The purpose of the paper is to rescue Irving Fisher’s theorizing of the yield curve (1896, 1907, 1930) from relative obscurity and to contrast it with the better known and equally pioneering theory of John Maynard Keynes (1930, 1936). The paper also adduces evidence that Fed economists and the U.S. monetary experience in the 1920s greatly influenced these authors, both of whom were concerned with the management of the long-term interest rate. |
| Date: | 2024–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:9hf8z&r=his |
| By: | Paola Azar (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía); Carolina Roman (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía) |
| Abstract: | This paper explores the Uruguayan epidemiological transition from a regional perspective. It covers the period between the end of the 19th century and the end of the 1960s. Using an especially elaborated database on total mortality and cause of death rates at the department level, we compute beta and sigma convergence, identify regions featured by high or low mortality rates and implement a shift-share analysis on the components of the mortality rate for the 19 departments. Our results show that the pace of beta convergence was heterogeneous across regions while dispersion measures displayed no statistically significant sigma convergence both for total and non-preventable deaths. The local component played a role to explain the mortality level particularly after 1930 and regional income levels are not enough to explain why preventable deaths remained high in some territories. The analysis provides new insights on the dynamics of the epidemiological transition and the extent at which the improved living conditions, typical of this historical period, effectively reached the whole territory. |
| Keywords: | epidemiological transition, mortality, Latin America, Uruguay, 20th century |
| JEL: | I14 N36 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:ulr:wpaper:dt-23-23&r=his |
| By: | Federle, Jonathan; Meier, André; Müller, Gernot J.; Mutschler, Willi; Schularick, Moritz |
| Abstract: | In view of increasing geopolitical tensions, the economic consequences and costs of wars on the global economy are increasingly coming into focus. In their Kiel Policy Brief, the authors examine the costs of more than 150 wars since 1870. In the immediate theaters of war alone, real GDP falls by an average of 30 percent five years after the start of the war, while inflation rises by up to 15 percentage points. Further war costs are added to neighboring countries and countries further away-whereby the costs decrease with increasing distance. Historical data is also used to calculate the expected economic damage caused by the war in Ukraine. The authors expect a cumulative GDP loss in Ukraine of around 120 billion US dollars by 2026. The Ukrainian capital stock would fall by more than 950 billion US dollars over the same period. The costs for third countries not directly involved in the war amount to 250 billion US dollars, of which around 70 billion US dollars are attributable to the European Union and 15-20 billion US dollars to Germany alone. With the "Price of War Calculator", a tool is available free of charge at priceofwar.org, which can be used to estimate the economic impact of hypothetical wars. |
| Abstract: | Angesichts zunehmender geopolitischer Spannungen rücken die wirtschaftlichen Folgen und Kosten von Kriegen auf die Weltwirtschaft verstärkt in den Fokus. In Ihrem Kiel Policy Brief untersuchen die Autoren die Kosten von mehr als 150 Kriegen seit 1870. Alleine auf den unmittelbaren Kriegsschauplätzen sinkt das reale BIP fünf Jahre nach Kriegsbeginn durchschnittlich um 30 Prozent, während die Inflation um bis zu 15 Prozentpunkte steigt. Weitere Kriegskosten kommen auf Nachbarländer und weiter entfernte Länder hinzu, die mit zunehmender Distanz sinken. Anhand der historischen Daten werden auch die zu erwartenden wirtschaftlichen Schäden durch den Krieg in der Ukraine berechnet. Die Autoren erwarten bis zum Jahr 2026 einen kumulativen BIP-Verlust in der Ukraine von etwa 120 Milliarden US-Dollar. Der ukrainische Kapitalstock würde im selben Zeitraum um mehr als 950 Milliarden US-Dollar sinken. Die Kosten für nicht direkt am Krieg beteiligte Drittländer belaufen sich auf 250 Milliarden US-Dollar, wovon etwa 70 Milliarden US-Dollar auf die Europäische Union und 15-20 Milliarden US-Dollar alleine auf Deutschland entfallen. Mit dem "Price of War Calculator" wird zudem ein Tool unter priceofwar.org zur freien Verfügung gestellt, mit dem die wirtschaftlichen Auswirkungen hypothetischer Kriege abgeschätzt werden können. |
| Keywords: | Geoeconomics, War, Spillovers, Distance, Supply Shocks, Geoökonomie, Krieg, Spillovers, Distanz, Angebotsschocks |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkpb:283621&r=his |
| By: | Bowbrick, Peter |
| Abstract: | My paper, ‘Falsehoods and Myths in Famine Research – The Bengal Famine and Daoud’ (2022a), refuted Daoud’s paper, ‘Synthesizing the Malthusian and Senian approaches on scarcity: a realist account’ (2018) which presented an empirical model of the Bengal famine of 1943 using his theory. I showed at length that most of his key factual statements were falsehoods, and most of these were contradicted by evidence in his sources. His analysis was wrong. In this rejoinder I show that his Response in the Journal of International Development has not attempted to challenge my criticisms. Instead, he wrote on a subject not relevant to them, diverting attention from them. He has also produced new falsehoods. There are multiple breaches of Committee on Publication Ethics (COPE) guidelines by the author and by the Journal. It is surprising that the Journal, knowing this, should have published this paper. |
| Keywords: | Famine; Famine falsehoods; Bengal; Daoud; Publication ethics; Journal of International Development |
| JEL: | Q13 Q18 |
| Date: | 2024–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120082&r=his |
| By: | Laura C. Blanco (Universidad de Costa Rica) |
| Abstract: | En este artículo se recopilaron las referencias bibliográficas y se analizó la obra académica de la profesora catedrática de la Universidad de Costa Rica MSc. Anabelle Ulate Quirós. Se argumenta que la crisis de los años ochenta marcó profundamente su trabajo académico, el cual se centra sobre la relevancia de la innovación científica y tecnológica como motor del crecimiento económico para Costa Rica. A la vez, existe una propuesta por un estilo de desarrollo costarricense no ortodoxo que rescata el papel fundamental de las instituciones públicas, particularmente en el desarrollo de la innovación y tecnología. |
| Keywords: | universidad, academia , mujeres economistas, estilo de desarrollo costarricense |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:fcr:wpaper:202401&r=his |
| By: | Stark, Oded |
| Abstract: | Sen (1973 and 1997) presents the Gini coefficient of income inequality in a population as follows. “In any pair-wise comparison the man with the lower income can be thought to be suffering from some depression on finding his income to be lower. Let this depression be proportional to the difference in income. The sum total of all such depressions in all possible pair-wise comparisons takes us to the Gini coefficient.” (This citation is from Sen 1973, p. 8.) Sen’s verbal account is accompanied by a formula (Sen 1997, p. 31, eq. 2.8.1), which is replicated in the text of this note as equation (1). The formula yields a coefficient bounded from above by a number smaller than 1. This creates a difficulty, because the “mission” of a measure of inequality defined on the unit interval is to accord 0 to perfect equality (maximal equality) and 1 to perfect inequality (maximal inequality). In this note we show that when the Gini coefficient is elicited from a neat measure of the aggregate income-related depression of the population that consists of the people who experience income-related depression, then the obtained Gini coefficient is “well behaved” in the sense that it is bounded from above by 1. We conjecture a reason for a drawback of Sen’s definition, and we present repercussions of the usage of the “well-behaved” Gini coefficient. |
| Keywords: | International Development |
| Date: | 2024–02–27 |
| URL: | http://d.repec.org/n?u=RePEc:ags:ubzefd:340108&r=his |
| By: | Raisssa Vieira de Melo; Laura Valladao de Mattos |
| Abstract: | In the second half of the nineteenth century, a small group of middle class women organized itself with the aim of promoting some social changes that they considered important for their sex, with special emphasis to questions relating to women’s work. They founded a journal that was written and edited by women – the English Women’s Journal – and demanded improvements in women’s education and the opening of more professions for the women of their class. This paper analysis the use they made of Political Economy in support of their cause. It is argued that this science was used both in their diagnosis of the problems engendered by the restricted access women had to the labor market; and in their attempt to persuade society to change this situation. It is also argued that, despite aiming to give the possibility of independent existence to women by means of work, these activists embraced many of the Victorian values concerning women’s role in society. The conclusion is that this mixture of economic activism with Victorian values was important for it allowed these women to go against some ingrained prejudices and habits of the time without being ostracized from society. |
| Keywords: | Lagham Place; Political Economy; women’s labor |
| JEL: | B10 B12 |
| Date: | 2024–02–16 |
| URL: | http://d.repec.org/n?u=RePEc:spa:wpaper:2024wpecon06&r=his |
| By: | Mogaji, Peter Kehinde |
| Abstract: | Neutrality of money holds that the real economy is not affected by the level of the money supply level. Superneutrality of money as a property stronger than neutrality of money connotes that the rate of money supply growth has no effect on real variables. The hypothesis of money superneutrality is about what the long run relationship between money supply growth and growth in real output and changes in price levels and what these suggest for the use of monetary aggregates in the conduct of monetary policy. This paper assesses the validity of the hypothesis of money superneutrality in the long run by gathering empirical evidence for 50 African economies within five (5) monetary and economic blocs of Africa (EAC, ECCAS, ECOWAS, AMU/MENA, and SADC), including Djibouti and Ethiopia. This study determines if money supply growth is influential across economies in Africa. The autoregressive distributed lag (ARDL) bound testing cointegration approach developed by Pesaran et al (2001) was employed to test money superneutrality in this study. Relevant time series annual data of money supply growth, and real GDP growth and inflation spanning over a period of 42 years between 1980 and 2022 were sourced and applied for 53 African countries under the study. Findings and results generated from the ARDL estimation results produced evidence to suggest that money is not superneutral in monetary policy outcomes and implementation virtually all the economies of Africa evaluated, from both perspectives of the influence of money supply growth on real output and on inflation. However, it is necessary to state that the assessments of the influence of money supply growth on inflation rate yield establish the relevance of money across African economies. |
| Keywords: | Money Neutrality, Money Superneutrality, ARDL, EAC, ECCAS, ECOWAS, AMU, MENA, SADC |
| JEL: | E4 |
| Date: | 2023–09–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120181&r=his |
| By: | Aitmagambetov Duman Ramazanovich (L.N. Gumilyov Eurasian National University, Kazakhstan) |
| Abstract: | The article is devoted to a historical and geographical overview of the famine in Kazakhstan during 1921-1922 and its reflection in the modern appearance of Kazakhstanis. In Kazakhstan, this famine is known as the first famine of the Kazakhs under Soviet rule. The main purpose of this work is to familiarize foreign researchers and readers with the topic of the famine of 1921-1922 and its consequences. As a research task, the author attempted to present to the reader the main causes of famine in Kazakhstan, the scale of damage and the impact of famine on the life of the indigenous population of the republic in modern times through a review of historical and demographic analysis. The peculiarity of the research methodology is the generalization and systematization of works on the subject and conclusions regarding the traces of injuries in the minds of the population. The author concludes that not all aspects of the famine of 1921-1922 have been sufficiently studied, among the necessary to study, in addition to historical-demographic and landscape-climatic aspects, the author also includes historical-geographical and migration aspects. The article uses new archival materials and the latest research of Kazakhstani scientists and historians on the topic in recent years, which allows us to delve even deeper into the thick of those events. |
| Keywords: | famine, food spread, Kazakh famine, demographic crisis, migration, mental trauma, historical memory |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0297&r=his |
| By: | Thanh P. Hui; Katsushi S. Imai |
| Abstract: | This study analyses the long-lasting effects of the Vietnam War on the human capital of first and second generations after 50 years. Our focus is on Agent Orange, herbicide bombings used by the US military during the Vietnam War from 1962 to 1971. Although there is extensive research on the direct impacts of exposure to the war on education, health, and economic conditions, little is known about its outcomes on children born well after the war. Using the nationally representative household data in 2014, 2016, and 2018, combined with Agent Orange Data, this paper finds evidence that bombing exposure has long-lasting adverse effects not only on the affected generation but also on the children of those who experienced the conflicts. Overall, women tend to be more severely influenced by bombings than men, and the adverse effects on years of education are persistent in the second generation. In the first generation, there are also stronger effects on individuals exposed to the bombing after birth than those exposed in utero. Results based on 2SLS show that mothers’ exposure to shocks during the prenatal period or after birth significantly affects the schooling level of their children, especially among the mother-daughter dyads. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:man:sespap:2401&r=his |
| By: | Effrosyni Adamopoulou (ZEW and University of Mannheim); Jeremy Greenwood (University of Pennsylvania); Nezih Guner (CEMFI) |
| Abstract: | A brief historical overview of the household equipment revolution and the women who transformed the home in Germany and the United States. |
| Keywords: | appliances, housework, leisure, Christine Frederick, Hildegard Margis, Arne Meyer, vintage advertisements |
| JEL: | B31 D13 J22 N32 N34 |
| Date: | 2024–02–26 |
| URL: | http://d.repec.org/n?u=RePEc:pen:papers:24-005&r=his |
| By: | Rylan Chinnock (Department of Economics, University of Massachusetts); Roberto Veneziani (School of Economics and Finance, Queen Mary University of London); Naoki Yoshihara (Department of Economics, University of Massachusetts) |
| Abstract: | In this paper we review recent developments in axiomatic studies of Marxian exploitation theory. First, given the acute controversy over the formal definition of exploitation during the 1970-1990s, we review the study of the axiomatic framework, which identifies some fundamental properties – technically, domain conditions – that any definition of exploitation should satisfy. Moreover, we provide a survey on the axiomatic studies about the proper measures of exploitation which coherently preserve the basic Marxian perceptions represented by two axioms, Profit- Exploitation Correspondence Principle and Class-Exploitation Correspondence Principle. Finally, we examine the relevance of the labour theory of value in these axiomatic studies of the proper measures of exploitation. |
| Keywords: | Axiomatic analysis; Labour Exploitation; Profit-Exploitation Correspondence Principle; Class-Exploitation Correspondence Principle; Labour Theory of Value. |
| JEL: | D63 D51 |
| URL: | http://d.repec.org/n?u=RePEc:qmw:qmwecw:972&r=his |
| By: | Cavalieri, Marco |
| Abstract: | Review of “A History of Brazilian Economic Thought: From Colonial Times Through The Early 21st Century” edited by Ricardo Bielschowsky, Mauro Boianovsky and Mauricio Chalfin Coutinho. |
| Date: | 2024–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:qsp8b&r=his |
| By: | Marilena Marin (Ovidius University of Constanta, Romania) |
| Abstract: | The medieval era was a fascinating time for almost all fields, including the juridical field. The historical and social context of this era marked the legal system by a series of particularities, both in terms of substantive and procedural law, but at the same time, they also left their mark on subsequent eras, to a greater or lesser extent. The analysis proposed in our study concerns, among other things, the way in which the medieval world understood how to regulate social values, establish rules of conduct and organize judicial procedure in relation to social classes and categories, but also the challenges brought about by this historical period. |
| Keywords: | medieval era, feudal era, legal system, substantive law, legal institution, procedural law |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0301&r=his |
| By: | Sania Sawale (Bridgewater-Raritan High School, Bridgewater, NJ, United States); Daniel B. Kurz (Scranton, PA, United States) |
| Abstract: | In the Summer of 1966, older Los Angeles residents grew angry over the crowds of teens and young adults in the downtown area. Despite the fact that few services were offered to these young people who faced the possibility of being drafted in the Vietnam War, the older population decided that the first response to the overcrowding issue should be police intervention. In what is now regarded as a complete overreaction, the Los Angeles Police Department (LAPD) violently challenged, attacked, arrested, and dispersed thousands of young people who otherwise were not acting in a harmful manner. Where these young people would wind up, where they would go to deal with their issues, and their need for socialization was irrelevant. They were treated as if they had invaded the community and that their lives mattered little. In reaction to these violent clashes, singer/songwriter Stephen Stills penned what would be one of the most influential protest anthems of the Modern Era: “For What It’s Worth†. The purpose of this study is to show how this 1966 song was not only an instant hit, but also impacted activists over the past half-century, as it was covered by famous artists in diverse social reform movements, in protests, and even in a political party convention. This study will explore how this one protest song represents the overall impact of music on activist culture, and strives to inspire and inform readers about the power of music in activism. |
| Keywords: | Los Angeles Police Department (LAPD), young people, disenfranchisement, draft, “For What It’s Worth†, cover, public demonstration |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0302&r=his |
| By: | Nastasi, Federico; Spagano, Salvatore |
| Abstract: | The Brazilian economist Celso Furtado escapes from the traditional distinctions among different schools of thought. Indeed, he made large use of tools from various proveniences according to a pragmatic approach. Nonetheless, this paper shows that his work also contains several characteristic elements of the institutionalist tradition. In the early 1960s, Furtado placed institutions at the centre of his analysis of the evolution of the economic history. Moreover, he rejected the kind of determinism that follows a concept of choice entirely dependent on the utility-maximizing rationality. Coherently, he opposed the New Institutional Economics as an example of neoclassical retread of institutional issues. Finally, and especially, even without theorizing it, he adopted the institutionalised individual as an economic agent. This choice, rather than that of the homo oeconomicus, implied assuming an agent able to shape institutions that, in turn, influence human behaviours according to a downward cumulative causation. |
| Keywords: | Furtado, Structuralism, Institutionalism |
| JEL: | B2 |
| Date: | 2023–02–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:120242&r=his |
| By: | Bin-Kasim, Waseem-Ahmed |
| Abstract: | Review of “African Motors: Technology, Gender, and the History of Development” by Joshua Grace. |
| Date: | 2024–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:8q2mh&r=his |
| By: | Sergiu Ghica (University of Bucharest, Romania) |
| Abstract: | This paper explores the foundations of evidentialist apologetics, the principles of the evidentialist method for defending the Christian faith, the leading representatives of this method and the basic themes addressed. It examines how evidentialists interpret the importance of historical documents, prophecies, and empirical evidence in presenting the authenticity of Christianity. Moreover, it analyzes the systems of thought of some of the most influential contemporary apologists namely John Montgomery and Josh MacDowell. |
| Keywords: | apologetics, Christian faith, argumentation, evidence, evidentialist system |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0308&r=his |
| By: | Andrea Bernini; Giovanni Facchini; Marco Tabellini; Cecilia Testa |
| Abstract: | We review the literature on the effects of the 1965 Voting Rights Act (VRA), which removed formal restrictions to Black political participation. After a brief description of racial discrimination suffered by Black Americans since Reconstruction, we introduce the goals that the VRA was meant to achieve. Next, we discuss the local level impact of the law on political participation and representation, on public goods provision and policing practices, and on labor market outcomes. We then turn to whites’ reactions, from political realignment to electoral counter-mobilization to changes in voting rules and arrests patterns. We conclude by discussing how the evidence reviewed in this article can inform policy-making and the design of legislation aimed at reducing racial discrimination and inequality. |
| Date: | 2024–02–20 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:1035&r=his |
| By: | Pugh, Rhiannon |
| Abstract: | Review of “India from Latin America. Peripherisation, Statebuilding, and Demand-Led Growth” by Manuel Gonzalo. |
| Date: | 2024–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:js76k&r=his |
| By: | Thanh P. Bui (Department of Economics, Business School University of St Andrews, UK); Katsushi S. Imai (Department of Economics, School of Social Sciences, The University of Manchester, UK and Research Institute for Economics and Business Administration, Kobe University, JAPAN) |
| Abstract: | This study analyses the long-lasting effects of the Vietnam War on the human capital of first and second generations after 50 years. Our focus is on Agent Orange, herbicide bombings used by the US military during the Vietnam War from 1962 to 1971. Although there is extensive research on the direct impacts of exposure to the war on education, health, and economic conditions, little is known about its outcomes on children born well after the war. Using the nationally representative household data in 2014, 2016, and 2018, combined with Agent Orange Data, this paper finds evidence that bombing exposure has long-lasting adverse effects not only on the affected generation but also on the children of those who experienced the conflicts. Overall, women tend to be more severely influenced by bombings than men, and the adverse effects on years of education are persistent in the second generation. In the first generation, there are also stronger effects on individuals exposed to the bombing after birth than those exposed in utero. Results based on 2SLS show that mothers' exposure to shocks during the prenatal period or after birth significantly affects the schooling level of their children, especially among the mother-daughter dyads. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:kob:dpaper:dp2024-06&r=his |
| By: | Jiang, George Hong |
| Abstract: | Review of “Friedrich List: A Pioneer in Catchup Development” by Mei Junjie. |
| Date: | 2024–01–26 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:7cx8u&r=his |
| By: | Hazell, Joe; Herreño, Juan; Nakamura, Emi; Steinsson, Jón |
| Abstract: | We estimate the slope of the Phillips curve in the cross section of U.S. states using newly constructed state-level price indices for nontradeable goods back to 1978. Our estimates indicate that the slope of the Phillips curve is small and was small even during the early 1980s. We estimate only a modest decline in the slope of the Phillips curve since the 1980s. We use a multiregion model to infer the slope of the aggregate Phillips curve from our regional estimates. Applying our estimates to recent unemployment dynamics yields essentially no missing disinflation or missing reinflation over the past few business cycles. Our results imply that the sharp drop in core inflation in the early 1980s was mostly due to shifting expectations about long-run monetary policy as opposed to a steep Phillips curve, and the greater stability of inflation between 1990 and 2020 is mostly due to long-run inflation expectations becoming more firmly anchored. |
| JEL: | E30 |
| Date: | 2022–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:113326&r=his |