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on Business, Economic and Financial History |
| By: | Henderson, Lou; Humphries, Jane |
| Abstract: | Breastfeeding is vital and valuable labour, contributing to the physical and cognitive health of children throughout their lives, yet it is rarely compensated in formal labour markets. Its economic importance may therefore go unrecognised. We impute upper and lower bounds for the value of unpaid breastfeeding over five centuries in England to better understand its economic role over the course of economic development. We also contribute a novel estimate of changes in breastfeeding duration over this period from historical and bioarchaeological sources using interval regression. At minimum, unpaid breastfeeding consistently exceeded 0.1% of GDP, reaching a possible peak of 6.58% in the sixteenth century while the wider economy stagnated. This quantity exceeds expenditures on school and apprenticeship, making breastfeeding possibly the largest source of human capital investment in early modern England. Yet the relative value of unpaid breastfeeding gradually declined as the wider economy grew. Indeed, for much of English history the income elasticity of breastfeeding appears to have been negative, only becoming positive at some point in the nineteenth century. Because breastfeeding was strongly negatively correlated with infant mortality, this challenges longstanding assumptions about the relationship between income and mortality. In sum, breastfeeding was not a biologically determined constant but a dynamic, if neglected, part of economic life. |
| Keywords: | breastfeeding;unpaid care;human capital;national accounts;demography |
| JEL: | N0 R14 J01 |
| Date: | 2026–09–21 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:140884 |
| By: | Tarnai, Attila |
| Abstract: | The research examines the role of the state-owned enterprise PIK Belje in the Baranja region during the second half of the 20th century, with particular attention to the 1970s and 1980s. The region has traditionally been characterized by strong agricultural capacities, yet it suffered long-term economic stagnation due to the loss of its natural markets following the Treaty of Trianon. In this context, PIK Belje emerged as a key driver of modernization and local development. The enterprise not only purchased agricultural products from the region-wine, grapes, and cereals-but also created new opportunities for small producers through targeted loans and contractual arrangements. Such support was deliberately tied to technological renewal, such as vineyard modernization and mechanization, thereby enhancing productivity. By guaranteeing demand and integrating local farmers into broader market structures, PIK Belje functioned simultaneously as a stabilizer and a catalyst of regional growth. My research shows that state-owned enterprises can contribute to mitigating market failures and promoting rural development in peripheral regions. |
| Keywords: | Baranja, PIK Belje, state-owned enterprise, rural development, market integration |
| JEL: | N54 R11 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esconf:343413 |
| By: | Luis I. Jácome; Nicolás E. Magud; Samuel Pienknagura; Martín Uribe |
| Abstract: | We explore the historical link between populist regimes, fiscal monetization, and inflation, and how these links affect monetary policy in the 21st century. Using data for a large set of advanced economies and emerging markets since 1960, we show that, historically, left-leaning populist regimes are linked to increases in central bank lending to the central government, a gauge of deficit monetization. In turn, central bank lending is associated with marked increases in inflation. We show that past exposure to populism that relied on deficit monetization affects the conduct of monetary policy today. Countries with a history of deficit monetization and left-wing populist regimes systematically respond more strongly to deviations of inflation expectations from target. This effect persists even after controlling for the direct effect of past inflation on monetary policy rules. In the context of the literature of experienced learning, this novel finding sheds light on the persistence of past populist policies—central banks operating under the shadow of past populist regimes that relied on inflation-prone deficit monetization continue today needing to send stronger signals of their independence and commitment to price stability to effectively anchor inflation expectations. |
| JEL: | E43 E52 E58 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35758 |
| By: | Sabet, Navid; Yuchtman, Noam |
| Abstract: | We empirically identify politically-motivated redistricting and its consequences, studying the effects of changed electorate composition on US congressional district boundaries and on political outcomes. We exploit the 1986 Immigration Reform and Control Act (IRCA), which legalized millions of immigrants, changing local electorates without changing demographics— legalized immigrants were already counted in the census. Where Democrats controlled the 1990 redistricting process, higher IRCA populations were associated with more spatially distorted districts. Consistent with theory, Democrats packed Hispanics(their ardent supporters) into majority-minority districts. House delegations had more Hispanics suggesting that partisan gerrymandering, in this case, increased representation among the historically underrepresented. |
| Keywords: | gerrymandering;minority political representation;immigrant legalization;state governance |
| JEL: | D70 P00 J10 |
| Date: | 2025–09–19 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:126163 |
| By: | Rixu Lan (Central University of Finance and Economics); Haowen Ma (Central University of Finance and Economics); Lingyu Kong (Adelaide University) |
| Abstract: | How did firms govern employee misconduct in the absence of strong courts, standardized accounting, and effective external enforcement? Existing accounts of corporate governance often treat formal law and bureaucratic control as preconditions for modern organizations. Drawing on extensive archival evidence from the Shanghai Commercial & Savings Bank between 1915 and 1949, this article challenges that assumption by examining how a large, expanding bank constructed an effective internal system to prevent employee fraud under conditions of legal fragility and political instability. Conceptually, the study reframes fraud control as a historically contingent governance architecture composed of three interlocking elements: dense internal monitoring, incentive-based career structures, and a distinctive guarantor system that transferred risk to third parties while mobilizing social reputation, moral obligation, and private information. Rather than operating as an informal residue of tradition, the guarantor system functioned as a contractual and organizational device that embedded extra-organizational social relations into the bank’s formal governance structure. Based on regulations, personnel files, fraud case records, and contemporary publications, the article shows that these mechanisms were mutually reinforcing and capable of sustaining relatively low fraud incidence and high employee retention over time, though their effectiveness depended on macroeconomic stability. By historicizing corporate governance outside Western institutional settings, the study demonstrates that modern control did not require the elimination of informality but its strategic institutionalization. More broadly, it contributes to business history and the study of capitalism by revealing alternative pathways through which firms historically produced trust, discipline, and accountability in the absence of strong states. |
| Keywords: | employee fraud prevention;Chinese modern banks;guarantor system;internal labor markets |
| Date: | 2026–06 |
| URL: | https://d.repec.org/n?u=RePEc:adl:wpaper:2026-06 |
| By: | Pier Francesco Asso (University of Palermo); Marcello Messori (European University Institute in Florence) |
| Abstract: | This paper analyzes the evolution of Banca d'Italia during Luigi Einaudi's governorship. Einaudi was appointed in January 1945, and pursued a very broad mandate: to restore the Bank's autonomy across monetary policy, exchange-rate policy and supervision policy; to contribute to the reintegration of the Italian economy into the new international economic order; to reaffirm the Bank's role as the "bank of banks" while reducing its role as the "bank of the Treasury"; and to strengthen its technical reputation in order to help shape the key economic policy decisions in Italy. Before long, bringing excessive inflationary pressures under control became the primary objective. Einaudi chose to postpone the launch of the stabilization intervention until 1947, considering support for economic recovery through an expansion of bank credit to be a national priority. Once implemented, monetary policy proved to be effective in achieving stabilization. Our reconstruction shows how Einaudi's governorship prepared the Bank to play a crucial role in the evolution of the Italian economy in the subsequent decades. |
| Keywords: | Luigi Einaudi; History of Banca d'Italia; Post-war Reconstruction of the Italian Economy; History of Monetary Policy |
| JEL: | B31 E58 N14 N24 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:bdi:workqs:qse_58_eng |
| By: | Matthew Curtis; Paula E. Gobbi; Marc Goñi; Joanne Haddad |
| Abstract: | Centuries before the demographic transition, the European Marriage Pattern (EMP) limited fertility in Western Europe through high celibacy, late marriage, and nuclear households. Whether the EMP reflected female empowerment or instead financial hardship remains debated. This paper shows that local inheritance institutions determined where economic opportunity strengthened the EMP and where the EMP reflected poverty. We construct a new atlas of 2, 486 rural and urban inheritance customs in France and Belgium and combine it with genealogical data on 75, 000 women born between 1500 and 1750. We show that the EMP manifested alongside earning opportunities where inheritance included women and younger siblings, but that the EMP reflected economic distress where inheritance was inegalitarian; that effects differed between urban and rural areas; and that they persisted over centuries. We develop and estimate a structural model in which inheritance rules affect marriage decisions through female empowerment and financial constraints. The estimates imply that roughly 65 percent of celibacy reflected choice rather than constraint, suggesting that the EMP was heterogeneous but primarily a positive force for female empowerment. |
| Keywords: | European marriage pattern, celibacy, customs, inheritance |
| JEL: | D10 J10 K11 N33 O10 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12995 |
| By: | Patrice Abry (CNRS - Centre National de la Recherche Scientifique, Phys-ENS - Laboratoire de Physique de l'ENS Lyon - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - Université de Lyon - CNRS - Centre National de la Recherche Scientifique); Cécile Bastidon (IXXI - Institut Rhône-Alpin des systèmes complexes - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - INSA Lyon - Institut National des Sciences Appliquées de Lyon - Université de Lyon - INSA - Institut National des Sciences Appliquées - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes, LEAD - Laboratoire d'Économie Appliquée au Développement - UTLN - Université de Toulon, OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po); Pierre Borgnat (Phys-ENS - Laboratoire de Physique de l'ENS Lyon - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - Université de Lyon - CNRS - Centre National de la Recherche Scientifique); Pablo Jensen (IXXI - Institut Rhône-Alpin des systèmes complexes - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UL2 - Université Lumière - Lyon 2 - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - INSA Lyon - Institut National des Sciences Appliquées de Lyon - Université de Lyon - INSA - Institut National des Sciences Appliquées - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - UGA - Université Grenoble Alpes, Phys-ENS - Laboratoire de Physique de l'ENS Lyon - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - CNRS - Centre National de la Recherche Scientifique, SEMIS - Sciences, Milieux, Information, Sociétés - LBBE - Laboratoire de Biométrie et Biologie Evolutive - UMR 5558 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - VAS - VetAgro Sup - Institut national d'enseignement supérieur et de recherche en alimentation, santé animale, sciences agronomiques et de l'environnement - CNRS - Centre National de la Recherche Scientifique - Centre Inria de Lyon - Inria - Institut National de Recherche en Informatique et en Automatique - Phys-ENS - Laboratoire de Physique de l'ENS Lyon - ENS de Lyon - École normale supérieure de Lyon - Université de Lyon - Université de Lyon - CNRS - Centre National de la Recherche Scientifique); Antoine Parent (UP8 - Université Paris 8); Barbara Pascal (LS2N - Laboratoire des Sciences du Numérique de Nantes - Inria - Institut National de Recherche en Informatique et en Automatique - CNRS - Centre National de la Recherche Scientifique - IMT Atlantique - IMT Atlantique - IMT - Institut Mines-Télécom [Paris] - Nantes Univ - ECN - NANTES UNIVERSITÉ - École Centrale de Nantes - Nantes Univ - Nantes Université - Nantes univ - UFR ST - Nantes université - UFR des Sciences et des Techniques - Nantes Université - pôle Sciences et technologie - Nantes Univ - Nantes Université) |
| Abstract: | This survey provides a critical overview of crisis indicators, synthesizing established contributions and identifying unresolved debates. It encompasses expert-based and model-based approaches and textual analysis methods that lie at their intersection. The survey offers a global comparison of the key aspects of the different methods, and introduces a new class of multivariate nonlinear segmentation model of indicators, grounded in signal processing. This approach, which combines historical insights with advanced modeling techniques, enhances our understanding of crises. |
| Keywords: | Financial mathematics and econophysics, Financial history, Crises, Interdependence Cliometrics, Contagion |
| Date: | 2025–12–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05761637 |
| By: | Emiliano A. Carlevaro (The University of Adelaide); Qazi Haque (The University of Adelaide); Leandro M. Magnusson (University of Western Australia) |
| Abstract: | This paper revisits the U.S. fiscal-monetary policy mix using econometric methods that are robust to weak identification and sensitive to structural changes. We find that the pre-Volcker period was predominantly characterised by a passive monetary-passive fiscal regime, consistent with indeterminacy and the presence of self-fulfilling inflationary expectations. However, we cannot rule out the possibility of a passive monetary-active fiscal configuration during the 1960s and 1970s, in line with the Fiscal Theory of the Price Level. In contrast, the post-Volcker period exhibits strong evidence of an active monetary-passive fiscal regime, reflecting greater inflation control and fiscal discipline. |
| Keywords: | Fiscal-monetary interactions; Weak identification. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:adl:wpaper:2025-05 |
| By: | Massimiliano Affinito (Bank of Italy) |
| Abstract: | This paper contributes to the ongoing debate on central bank balance sheet policies by examining the evolution of Banca d'Italia's balance sheet over the course of the 20th century. Using a range of VAR models, the analysis shows that in Italy, throughout the century, both balance sheet responses and impulses to macroeconomic conditions closely resemble those traditionally attributed to conventional monetary policy instruments, as well as those observed during recent episodes of unconventional balance sheet expansions. The paper therefore concludes that the central bank balance sheet functioned de facto as a monetary policy instrument throughout the century. Specifically, on the reaction function side, the balance sheet contracted in response to positive inflation shocks and exchange rate depreciations, while it expanded following positive shocks to real output and government debt. On the impulses side, exogenous balance sheet expansions were followed by significant increases in output, trade and inflation, as well as by exchange rate depreciation. A complementary analysis of balance sheet components shows that the composition of the balance sheet also changed over time in line with evolving macroeconomic needs. The role of the balance sheet changed from the early 1980s onwards, when policy interest rates became the primary instrument for controlling inflation internationally. Even in the latter part of the century, however, the balance sheet does not appear to have lost its function as a monetary policy instrument. Instead, it seems to have operated alongside the policy rate. |
| Keywords: | balance sheet policies and expansions, unconventional and conventional measures, frequentist and Bayesian VARs, rolling VAR, balance sheet components |
| JEL: | E58 E52 |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:bdi:opques:qef_1042_26 |
| By: | Joseba De la Torre (Institute for Advanced Research in Business and Economics (INARBE). Departamento de Economía. Universidad Pública de Navarra (UPNA). Pamplona, 31006 (Spain)); Mar Rubio-Varas (Institute for Advanced Research in Business and Economics (INARBE). Departamento de Economía. Universidad Pública de Navarra (UPNA). Pamplona, 31006 (Spain)) |
| Abstract: | Navarre, a small region on Europe's periphery, became Europe's third largest wind market by the late 1990s, led by a public-private firm: Energía Hidroeléctrica de Navarra (EHN). This paper reconstructs the origins of that transformation using primary and secondary sources. We argue that EHN succeeded in establishing the viable commercial model in renewable energy that was later imitated and replicated. We examine three keys to this trajectory: a regional industrial policy sustained for almost three decades beyond electoral cycles; the personal leadership of those who drove and directed the project; and EHN's own business design as a mixed public-private firm that acted as the catalyst for an entire industrial ecosystem. The interaction and cohesion of these elements —institutional framework, leadership, business fabric, and social consensus— form the combination that explains Navarre's trajectory, whose in-depth study this paper does not close but rather opens as a research agenda. |
| Keywords: | Wind energy, Navarre, Business history, Regional industrial policy, Industrial cluster |
| JEL: | N74 N84 Q42 R58 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:ahe:dtaehe:2605 |
| By: | Guillaume Bazot (Aix Marseille Univ, CNRS, AMSE, Marseille, France); Eric Monnet (Paris School of Economics); Matthias Morys (University of York [York, UK]) |
| Abstract: | The origins of modern financial globalization are often traced to the emergence of the Eurodollar market in the 1960s, but its implications for monetary policy under Bretton Woods remain unclear. This paper revisits international monetary transmission between 1948 and 1971 using a new monthly series of exogenous U.S. monetary policy shocks based on unanticipated daily changes in the Fed discount rate. We show that U.S. monetary tightening strongly affected U.S. inflation, output, and unemployment, while attracting capital inflows primarily through borrowing Eurodollars from the foreign branches of U.S. banks. After the restoration of current account convertibility in 1958, U.S. monetary shocks also increased Eurodollar and foreign interest rates, pointing to growing international financial integration. However, they had no significant effects on foreign output or credit, suggesting that domestic financial regulation and market segmentation continued to insulate Japanese and European economies from international shocks despite the expansion of offshore dollar markets. |
| Keywords: | US monetary policy shocks; International monetary transmission; Trilemma; Financial globalization; Capital controls; Eurodollar market; Bretton Woods system |
| JEL: | E44 E52 F33 F36 F42 N10 N20 |
| Date: | 2026–09–01 |
| URL: | https://d.repec.org/n?u=RePEc:aim:wpaimx:2625 |
| By: | Joao Guerreiro; Jonathon Hazell; Diego R. Känzig; Ed Manuel |
| Abstract: | Do stimulus checks—one-off, deficit-financed lump-sum payments to households—boost the economy? We study a natural experiment: payments to U.S. veterans after World War II that mimic stimulus checks but were plausibly exogenous to the economy. These payments led to a temporary increase in transfers and a persistent, hump-shaped increase in consumption. The transfer multiplier—the cumulative response of consumption to transfers—reaches 1 after six months and exceeds 2 after a year. The standard heterogeneous-agent New Keynesian model cannot match the hump-shaped consumption response. A version with imperfect expectations—with households underreacting on impact but overreacting at longer horizons—can match our estimates. |
| JEL: | E21 E32 E62 H31 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35786 |
| By: | Jesús Fernández-Villaverde; Patrick Norrick |
| Abstract: | As of 2026, humanity is likely below replacement fertility. That has never happened before, not in wars or pandemics. But the real surprise is that the fall has been concentrated in low- and middle-income countries and among poorer and less educated women. We fit a single-factor model to 236 countries since 1950: the common component peaked in 1978, and what drives fertility down today are country-specific trends, 219 of them negative and not one leveling off. None of the commonly cited mechanisms can account for this pattern, so we offer a conjecture: modernity itself, which makes a third child expensive and childlessness cheap. Children come in integers, so it takes very little to move a cohort’s fertility rate from 1.8 to 1.3. And nothing in an economy pushes fertility back to 2.1. We close with the main economic consequences, in particular slow growth. |
| Keywords: | fertility decline, demographic transition, population aging, economic growth, labor force, population projections |
| JEL: | J11 J13 O40 E24 O11 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12997 |
| By: | Dora L. Costa; Matthew E. Kahn |
| Abstract: | We show how fertility delays compound across generations to raise age at first grandmotherhood. Under the 1960 first-birth schedule median grandmotherhood came at 44. Under the 2024 schedule it is 57, cutting the healthy years with grandchildren from 28 to 15. Longer life does not make up the loss of years when the grandmother is healthy enough to supply money and care. Delay is most pronounced among the college-educated, with reproductive-control access accounting for over half the fall in grandmotherhood by age 55 among White college graduates. When a daughter times her first birth to maximize her own payoff, the loss her choice imposes on her mother is external to her calculation. We call this the Rotten Adult Kid Problem. Delay raises both the price of a grandmother's care and wealth per grandchild. |
| JEL: | D13 J13 J14 N32 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:35773 |
| By: | Tao Wang (EM - EMLyon Business School) |
| Abstract: | Painted horses and floating signifiers: How China talked its way into capitalism Review of Yuan Li (2024) China's Capitalist Transformation: The Rhetoric That Mattered. Berlin/Boston: De Gruyter. |
| Date: | 2026–08–23 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05731820 |
| By: | Sanchez, Alfredo Antonio Perez |
| Abstract: | La presente investigación analiza el rol de la Iglesia católica como aparato ideológico durante la dictadura de Trujillo, 1930-1961. El estudio parte del interés por comprender la relación establecida entre la Iglesia y el Estado, así como la influencia que dicha vinculación ejerció en la legitimación del régimen y en la difusión de valores, prácticas y discursos orientados a fortalecer el poder político durante la Era de Trujillo. La investigación se desarrolló desde un enfoque cualitativo, mediante un estudio histórico-documental sustentado en el análisis crítico de documentos oficiales, legislación, publicaciones periódicas, correspondencia, obras historiográficas y otras fuentes primarias y secundarias relacionadas con el tema. El análisis realizado permitió establecer que la Iglesia católica ocupó un lugar importante dentro de la estructura ideológica del régimen, al ejercer una influencia significativa en los ámbitos educativo, moral y simbólico de la sociedad dominicana. Además, se observó que esta relación no permaneció estática, ya que en los años finales de la dictadura comenzaron a manifestarse diferencias entre la jerarquía eclesiástica y el poder político, motivadas por el incremento de la represión y el deterioro de la situación nacional. En ese sentido, la investigación ofrece una interpretación histórica que amplía la comprensión de las relaciones entre religión, poder e ideología durante el trujillato y aporta una visión integral sobre este proceso de la historia dominicana. Palabras clave: Iglesia católica; dictadura de Trujillo; aparato ideológico del Estado; legitimación política; ideología. |
| Date: | 2026–09–12 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:ym9vr_v1 |
| By: | Castello, Simone (University of Cambridge) |
| Abstract: | This article continues the topic of the reform of education in 17th-century England from the paper ‘Literacy and the education system in 16th- and 17th -century England’, published as preprint on this site in January 2026 (DOI: 10.31235/osf.io/zfs7r_v1). Gresham College and London as the 'third university' in England are the themes. |
| Date: | 2026–09–05 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:dj9qz_v2 |
| By: | Jamshidi, Jamshid |
| Abstract: | The Islamic Republic of Iran dissolved its only ruling party in 1987 and has governed its provinces ever since without the organisation that comparative politics treats as essential to durable authoritarian rule. Yet elections have been held continuously, elites have circulated at extraordinary rates---roughly two in three parliamentary incumbents and four in five city councillors are replaced each cycle---and mass participation has persisted, with some 273, 000 candidates registering for a single round of local elections. This article asks how political coordination is accomplished at the subnational level in the structural absence of party organisation. Drawing on original electoral data covering all eleven parliamentary terms and on remote qualitative fieldwork in Khuzestan Province, it argues that durable, territorially embedded informal networks---kinship and tribal structures, religious associations, patronage hierarchies, and economic coalitions---perform the coordinating functions normally attributed to ruling parties. Read through Gramsci's account of hegemony and the integral state, these networks constitute decentralised sites of consent production that complement, rather than replace, coercive and institutional power. The case of Dezful illustrates the mechanism. The argument specifies a model of network-based hegemony with implications for the study of authoritarian durability, party substitution, and informal institutions beyond Iran. |
| Date: | 2026–09–07 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:chpx5_v1 |
| By: | Arthur SANCHEZ |
| Abstract: | Les « prolétaires saint-simoniennes » sont souvent considérées comme les fondatrices du premier mouvement féministe de l’histoire. Dans leurs écrits, elles dénoncent plusieurs dimensions matérielles de l’oppression des femmes et développent notamment une critique féministe de l’héritage. Plus qu’un vecteur d’inégalités entre individus, ces jeunes ouvrières l’analysent comme un mécanisme participant à la perpétuation de la domination masculine. Sous cet angle, elles dénaturalisent l’héritage, le soumettent à la critique, et envisagent sa disparition au sein d’une société plus juste et égalitaire. En remobilisant le cadre analytique de la pensée de Christine Delphy sur l’héritage, il est possible de jeter la lumière sur ce qui constitue, dès 1832, une des premières et des plus radicales critiques féministes de l’héritage. |
| Keywords: | Héritage, féminisme, saint-simoniennes, Démar, Delphy |
| JEL: | B1 J16 D31 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ulp:sbbeta:2026-33 |
| By: | Lingyu Kong (Adelaide University); Qixia Xu (Zhongnan University of Economics and Law) |
| Abstract: | We show that employee training in Republican-era Chinese banks served not just to build skills but to stabilize institutions and align workforce behavior with evolving organizational goals. Despite operating in skill-rich environments with simple job tasks, banks invested heavily in hierarchical training systems to maintain internal labor markets, enforce ethical conduct, and foster merit-based promotion. Training functioned as a mechanism for employee monitoring, governance control, and symbolic commitment to long-term employment. This reframing challenges human capital theory and contributes to a richer historical understanding of training as an organizational control mechanism, emphasizing its symbolic and structural significance in employment relations. |
| Keywords: | On-the-job training; Republican China banking; Internal labor markets; Employee monitoring; Job rotation |
| Date: | 2026–07 |
| URL: | https://d.repec.org/n?u=RePEc:adl:wpaper:2026-08 |
| By: | Laura D'Amato (UCEMA-UBA); Federico Grillo (BCRA); Sebastián Katz (BCRA-UBA) |
| Abstract: | El aumento de las deudas públicas y el retorno de la inflación tras la crisis financiera global y la pandemia reavivaron el debate sobre el papel de las interacciones fiscal-monetarias en la determinación del nivel de precios y de la demanda inflacionaria, en un contexto de políticas fiscales mucho más activas y potencialmente no ricardianas. Argentina ofrece un caso extremo: la inestabilidad nominal ha sido casi la norma y su vínculo con los desequilibrios fiscales persistentes es evidente. Este trabajo recorre su historia fiscal-monetaria entre 1900 y 2024 para identificar los regímenes fiscales prevalecientes y sus eventuales consecuencias en el plano nominal. Estimamos una función de reacción fiscal a la Bohn e identificamos regímenes mediante quiebres estructurales (Bai y Perron) en línea con Mauro et al. (2015). Hallamos un régimen fiscal pasivo o ricardiano entre 1900 y 1940, asociado a una notable estabilidad nominal, y uno activo o no ricardiano desde 1941 en adelante, con marcada inestabilidad nominal, salvo el interregno 1997-2010. Estos hallazgos se confirman con la estimación de una brecha fiscal-monetaria (Bolhuis et al (2024)), la distancia entre la tasa de interés natural y la tasa "fiscal" que estabilizaría el ratio deuda/PIB en presencia de políticas fiscales activas. Esta brecha corrobora la presencia de tensiones fiscal-monetarias y provee evidencia complementaria consistente con nuestro hallazgo de políticas fiscales activas a partir de 1941, con excpeción del período 1997-2010. |
| Keywords: | interacciones fiscal-monetarias, teoría fiscal del nivel de precios, dominancia fiscal, regímenes de política, quiebres estructurales, represión financiera, Argentina |
| JEL: | E31 E63 E65 H63 N16 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:aoz:wpaper:408 |
| By: | Pier Francesco Asso (Universita' di Palermo); Marcello Messori (Istituto Universitario Europeo di Firenze) |
| Abstract: | Questo lavoro ricostruisce la storia della Banca d'Italia negli anni del governatorato di Luigi Einaudi. Nominato nel gennaio 1945, Einaudi persegui' un mandato molto ampio: ristabilire l'autonomia della Banca nei diversi ambiti della politica monetaria, della politica valutaria e della vigilanza; collaborare al reinserimento dell'economia italiana nel nuovo ordine economico internazionale; ripristinare il ruolo di "banca delle banche", contenendo l'impegno di "banca del Tesoro"; rafforzare la reputazione tecnica per contribuire alla definizione delle grandi scelte di politica economica. Ben presto, l'obiettivo principale divenne quello di porre sotto controllo l'eccessiva dinamica inflazionistica. Einaudi scelse di rinviare al 1947 l'avvio della manovra di stabilizzazione, ritenendo prioritario il sostegno alla ripresa economica tramite l'espansione del credito bancario. Una volta attuata, l'azione monetaria si rivelo' efficace nel conseguire la stabilizzazione. Il quadro da noi ricostruito ci mostra come il governatorato Einaudi predispose la Banca a svolgere un ruolo cruciale nella successiva evoluzione dell'economia italiana. |
| Keywords: | Luigi Einaudi; Storia della Banca d'Italia; Ricostruzione postbellica dell'economia italiana; Storia della politica monetaria |
| JEL: | B31 E58 N14 N24 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:bdi:workqs:qse_58_ita |
| By: | McKenna Mulcahy |
| Abstract: | Three exhibit updates launched this summer at the St. Louis Fed's Economy Museum, which allows visitors to explore the economy and money in a fun and interactive way. |
| Date: | 2026–09–16 |
| URL: | https://d.repec.org/n?u=RePEc:fip:l00100:103788 |
| By: | Guarnieri, Eleonora (University of Bristol, CEPR, CESifo); Tur-Prats, Ana (University of California, Merced) |
| Abstract: | Why do some cultures go extinct while others prevail? We show that a society’s risk of cultural extinction, proxied by language loss, is shaped by its ancestral gender norms and by how these differ from those of competing cultures. Using the Ethnologue and the Male Dominance Index for a global sample of languages, we first show that languages from more gender-equal societies are likelier to go extinct. In our framework, male-dominant societies are more expansionist through two channels, military capacity sustained by surplus extraction and demographic pressure from women's specialization in domestic and reproductive labor, and therefore expand at the expense of gender-egalitarian groups. We test this in two settings. Under European colonization, we find that Indigenous groups more gender-equal than their colonizers are more vulnerable to extinction, which is best explained by asymmetries in male dominance rather than dominance more broadly. Exploiting local variation in neighbors' gender structure across Africa, we show that languages from more gender-egalitarian societies are less likely to survive in cells located close to male-dominant neighbors, with military capacity and population pressure predicting language expansion. |
| Keywords: | cultural diversity, language extinction, gender norms, inter-group contact |
| JEL: | Z10 O10 F54 J16 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18947 |
| By: | Claude Diebolt (BETA/CNRS, Faculty of Economics, University of Strasbourg, Strasbourg, France); Joel Huesler (School of Business, Lucerne University of Applied Sciences and Art, Switzerland) |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:afc:wpaper:04-26 |
| By: | Renata Martano (Banca d'Italia. Dipartimento Economia e Statistica); Maurizio Trapanese (Banca d'Italia. Dipartimento Economia e Statistica) |
| Abstract: | La finalita' del lavoro e' quella di individuare i caratteri peculiari delle crisi bancarie verificatesi in Italia tra il 1970 e il 1996. L'analisi ha riguardato le banche sottoposte ad amministrazione straordinaria o a liquidazione coatta amministrativa. Ove possibile, sono state esaminate anche banche oggetto di concentrazione o di ristrutturazione. Negli anni considerati le crisi di banche in amministrazione straordinaria hanno avuto ricadute contenute sul resto del sistema bancario italiano. Questo impatto aumenterebbe una volta considerate anche le situazioni di crisi non dichiarate ufficialmente. Fino agli anni Ottanta e' prevalso il ricorso alle amministrazioni straordinarie; successivamente, le diverse condizioni dei mercati hanno determinato un maggior ricorso alle liquidazioni coatte. Il lavoro sottolinea che in Italia i costi delle crisi a carico della fiscalita' generale sono risultati contenuti nel confronto internazionale. |
| Keywords: | Crisi finanziarie; Banche; Regolamentazione finanziaria; Gestione e risoluzione delle crisi |
| JEL: | G01 G21 G28 H12 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:bdi:workqs:qse_59 |
| By: | OCDE |
| Abstract: | Le présent document se penche sur l’évolution récente de la concurrence dans le secteur des services financiers dans la région Amérique latine et Caraïbes (ALC), en s’intéressant à la montée en puissance des fintechs, à la création d’un cadre réglementaire favorisant la concurrence et au rôle de l’open banking (système bancaire ouvert). Par fintechs, ce document entend les entreprises qui ciblent la relation entre la technologie et les services financiers, des services d’arrière-guichet jusqu’aux chaînes de blocs. Ces dix dernières années, le secteur financier dans la région ALC a connu de profonds changements, parmi lesquels l’arrivée de nouveaux intervenants, l’apparition de nouveaux produits et la reconfiguration des frontières du marché. Ces évolutions ont permis de dégager des gains de compétitivité et d’offrir aux clients des services financiers de meilleure qualité, plus accessibles, personnalisés et inclusifs, qui doivent être envisagés en les mettant en balance avec les possibles risques financiers. Les progrès de la réglementation ont joué un rôle essentiel à divers stades de ce processus : ils ont parfois préparé le terrain, parfois accueilli de nouveaux modèles et technologies découlant de la transformation numérique de la finance, et, plus récemment, ont même déclenché et favorisé des innovations de rupture. Enfin, ce document établit que l’open banking est une composante majeure de ce projet favorisant la concurrence. |
| Keywords: | concurrence, fintech, open banking |
| Date: | 2024–10–03 |
| URL: | https://d.repec.org/n?u=RePEc:oec:dafaac:313-fr |
| By: | Sylvain Zeghni (LVMT - Laboratoire Ville, Mobilité, Transport - Université Gustave Eiffel - ENPC - École nationale des ponts et chaussées - IP Paris - Institut Polytechnique de Paris) |
| Abstract: | L'habitabilité terrestre peut être envisagée comme la capacité du système Terre à maintenir, dans la durée, des conditions physiques et écologiques compatibles avec la vie complexe et avec l'organisation des sociétés humaines. Cette propriété n'est pas indépendante des transformations de la biosphère: elle résulte d'un ensemble d'interactions entre l'atmosphère, les océans, la cryosphère, les écosystèmes et les sociétés. L'Anthropocène se caractérise précisément par une perturbation rapide de ces interactions sous l'effet des émissions anthropiques de gaz à effet de serre, de la conversion des terres et de l'intensification des usages des ressources. Cet article examine cette transformation à partir de trois entrées complémentaires: les limites planétaires, les contraintes physiologiques imposées par les chaleurs extrêmes et les dynamiques de basculement susceptibles d'affecter certains grands soussystèmes du système Terre. L'analyse montre que le risque climatique ne peut être réduit à une hausse moyenne de température. Il concerne également les marges de résilience des écosystèmes, les conditions de thermorégulation humaine, les rétroactions du carbone et de l'eau, ainsi que les capacités d'adaptation des sociétés. Cette perspective conduit enfin à considérer l'habitabilité comme une question de justice, de mobilité et de gouvernance mondiale. |
| Keywords: | Habitabilité, limites planétaires, points de bascule, niche climatique humaine, température au thermomètre mouillé |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05744366 |
| By: | Steenkamp, Daan; Morrow, Sinead |
| Abstract: | This paper evaluates the South African Reserve Bank's historical monetary policy stance by applying different inputs to the Bank's forecasting model's Taylor rule specification. We quantify the impact of input measurement on assessments of the appropriate policy stance, as well as the impacts of a shift to a lower inflation target. Our findings emphasise the importance of communicating uncertainty around the central bank's assessment of the state of the economy, inflation expectations and price setting, and the expected path of inflation. We argue that, in the absence of a sequence of favourable economic shocks, South African interest rates will likely have to remain restrictive for longer than SARB currently assumes. |
| Keywords: | Taylor rule, reaction function |
| JEL: | E52 E47 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:esrepo:344059 |
| By: | McGovern, Patrick |
| Abstract: | Amid concerns over displacement by ‘big surveys’, this research examines the flow and content of workplace case study research across ten major journals over a 25-year period (2000–24). After an initial phase of growth, which peaked in 2013, the flow of case study articles declined sharply, notably among researchers at British and Irish universities. At the same time, case studies became, almost exclusively, a method for examining workplace change. Consciously or otherwise, an emerging strand of this research evaluates the distributional impact of such changes. Together, these trends present two challenges: the need to establish causal links between organizational change and wider economic and political processes and the need to develop a common framework for assessing the impact of organizational change on labour. |
| Keywords: | case studies;qualitative;industrial relations;sociology of work;content analysis |
| JEL: | R14 J01 J1 |
| Date: | 2026–09–18 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:141058 |
| By: | Aminjonov, Ulugbek (Trier University); Bargain, Olivier (University of Bordeaux) |
| Abstract: | This paper examines how combinations of ancestral cultural norms are associated with women’s empowerment across ethnic groups worldwide. Linking DHS data to the Ethnographic Atlas, we develop a hybrid supervised–unsupervised approach combining Partial Least Squares and k-means clustering to identify five probabilistic normative regimes. Severe disempowerment is associated with an accumulation of restrictive norms, while religious norms and women’s agricultural roles distinguish higher-empowerment environments within broadly patriarchal configurations. Further up the gradient, contrasts concern hierarchical social institutions, then kinship and the loosening of patriarchal arrangements, before more gender-neutral configurations prevail at the highest empowerment levels. Norms’ salience varies with the configurations in which they are embedded, revealing strongly non-monotonic patterns. These findings are robust to adjustment for contemporary socioeconomic conditions and a range of sensitivity checks. The analysis provides a global mapping of ancestral normative environments associated with women’s agency and identifies configurations most closely related to severe intra-household inequality. |
| Keywords: | women’s empowerment, ancestral norms, cultural persistence, kinship systems, machine learning, gender inequality, DHS, Ethnographic Atlas |
| JEL: | J16 O15 Z13 C38 D13 |
| Date: | 2026–09 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18955 |