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on Business, Economic and Financial History |
| By: | David S. Jacks; Christopher M. Meissner; Nikolaus Wolf |
| Abstract: | For all its importance, there still is no comprehensive quantitative assessment of the Suez Canal’s opening in 1869. We find that it led to a 72% relative increase in bilateral exports for affected country pairs and a likely permanent increase in world trade. With respect to the composition of trade, Suez was associated with large changes in export shares but only for a handful of goods categories. With respect to mechanisms, the relative cost of using steamships on Suez-affected routes fell dramatically and immediately after 1869, suggesting a vital role for the canal in the global diffusion of steam technology. |
| JEL: | F1 N7 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33250 |
| By: | Cléo Chassonnery-Zaïgouche (UNIBO - Alma Mater Studiorum Università di Bologna = University of Bologna); Aurélien Goutsmedt (ISPOLE - UCL - Université Catholique de Louvain = Catholic University of Louvain, F.R.S.-FNRS, UCL - U.C. Louvain) |
| Abstract: | Over a period of 12 years, Barbara Bergmann developed several models of the labour market using microsimulation, eventually integrated in a "Transactions Model" of the entire US economy, built with Robert Bennett and published in 1986. The paper reconstructs the history of this modelling enterprise in the context of the debates on the micro-foundations of macroeconomics and the role of macroeconomic expertise from the 1970s to the late 1980s. It shows how her focus on the distributional effects of policies was central to the criticism of macroeconomic modelling and how both her epistemological and political positions were marginalised in the 1980s. |
| Abstract: | Sur une période de douze ans, Barbara Bergmann a développé plusieurs modèles du marché du travail en utilisant la microsimulation, finalement intégrés dans un "Transactions Model" de l'ensemble de l'économie américaine, construit avec Robert Bennett et publié en 1986. L'article reconstruit l'histoire de cette entreprise de modélisation dans le contexte des débats sur les fondements microéconomiques de la macroéconomie et le rôle de l'expertise macroéconomique depuis la stagflation des années 1970 jusqu'à la fin des années 1980. Il montre comment un élément politique - l'accent mis sur les effets distributifs des politiques - a été au cœur de sa critique de la modélisation macroéconomique et comment ses positions épistémiques et politiques ont été de plus en plus marginalisées dans les années 1980. |
| Keywords: | microsimulation, Microfoundations, Expertise, Models and simulations |
| Date: | 2024–12–02 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04208686 |
| By: | Sophie Agulhon (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon, LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis); Thomas Michael Mueller (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur) |
| Abstract: | What people often mean by getting rid of conflict is getting rid of diversity, and it is of the utmost importance that these should not be considered the same. (Follett 1924) Scientific Management is usually studied for what it brought to factories, production and the organization of work: yet, it did much more. Our contribution focuses on how Taylor's ideas were adapted to domestic occupation by overlapping with another forgotten movement promoting household efficiency and primarily led by women: Home Economics and its sanitary science. Drawing on the methodology of intellectual history, we examine the pioneering writings of Ellen Richards, Mary Talbot, Charlotte Perkins Gilman, and Christine Frederick and see how they promoted female vindications and emancipation. If Scientific Management is criticized for its alienating effects, its spillovers were also partially positive during the Progressive Era. Indeed, Scientific Management was envisioned as a normative guide to a new model of society and, surprisingly, as a tool for emancipation and empowerment, meant to provide women with a mean of social liberation and legitimization. Furthermore, the social movements that characterized the Progressive Era became crucial to tackling democratic issues through an empirical lens. Engaging in some of Critical Management Studies major themes, this contribution to management history aims to produce novel insight on Scientific Management and its contribution to domestic work and women' identity in the early 20th century. |
| Keywords: | empowerment, feminism, history, Home Economics, Scientific Managementwomen |
| Date: | 2024–12–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04833735 |
| By: | Luigi Guiso; Paola Sapienza; Luigi Zingales |
| Abstract: | This paper examines how the concept of embedded culture played a transformative role in the ongoing cultural revolution within economics and business. We trace the field's shift from the 20th-century concept of homo economicus universalis to an approach incorporating cultural embeddedness in economic behavior. Beyond documenting this intellectual transformation, we identify fertile areas for future research and explore how an embedded cultural perspective can enhance both our understanding of economic phenomena and the design of effective policies. |
| JEL: | D21 M14 Z1 Z13 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33268 |
| By: | Ou-Mellal Brahim (USMS - Université Sultan Moulay Slimane); Mostafa Oubrahimi (USMS - Université Sultan Moulay Slimane) |
| Abstract: | Human Resource Management (HRM) is a complex and multidimensional field that has evolved over the decades to meet the changing needs of organizations and their workforce. Once primarily viewed as a support function, HRM is now recognized as a crucial strategic tool that enables companies to distinguish themselves from their competitors. In recent years, HRM has garnered increasing attention in academic discussions within management sciences. This article aims to explore the theoretical foundations of HRM, providing an overview of the various approaches that have shaped this discipline. Drawing on a rigorous review of the literature, including reference books, scientific publications, theses, and specialized journals, this article seeks to shed light on the fundamental principles that have guided the evolution of HRM practices and concepts, thus contributing to the expansion of the scientific literature on the subject. Based on existing theories and research related to HRM, a synthesis of the different HRM approaches and models has been conducted. This analysis has allowed for a deeper understanding of the evolution of the HR function and the models associated with it. |
| Abstract: | La GRH est un domaine complexe et multidimensionnel qui a évolué au fil des décennies pour s'adapter aux besoins changeants des organisations et de leur personnel. Autrefois considérée principalement comme une fonction de soutien, la GRH est désormais reconnue comme un outil stratégique fondamental, permettant aux entreprises de se démarquer de leurs concurrents. Ces dernières années, la GRH a suscité un intérêt croissant dans les débats académiques en sciences de gestion. Cet article a pour objectif d'explorer les fondements théoriques de la GRH, en présentant un aperçu des différentes approches ayant contribué à façonner cette discipline. S'appuyant sur une revue de littérature rigoureuse, incluant des ouvrages de référence, des publications scientifiques, des thèses et des revues spécialisées, cet article vise à éclairer les principes fondamentaux qui ont guidé l'évolution des pratiques et des concepts en GRH, tout en enrichissant ainsi le corpus de la littérature scientifique sur ce sujet En se basant sur la théorie existante et les travaux de recherche relatifs à la GRH, un travail de synthèse des différentes approches et modèles de la GRH a été réalisé. Cette analyse a permis de mieux cerner l'évolution de la fonction RH et les modèles qui lui sont associés. |
| Keywords: | Human Resource Management, Strategic Human Resource Management, HRM Functions, Gestion des Ressources Humaines GRH, Fonctions de la Gestion des Ressources humaines, Gestion Stratégique des Ressources Humaines |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04775626 |
| By: | Rémy Herrera (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article analyzes the evolutions of Marx's positions on colonization. It first emphasizes the invariant of his reflections: the denunciation of colonial violence. We initially find an interpretation of colonization as a process of modernization, then as a dynamic of "destruction-regeneration, " linked to the "unification of the world." The author identifies above all the successive inflections of Marx's – resolutely critical – thought about colonial and national issues, the non-linear character of history, and the differentiation of social formations. |
| Abstract: | Cet article analyse les évolutions des positions de Marx à propos de la colonisation. Il souligne tout d'abord l'invariant de ces réflexions : la dénonciation de la violence coloniale. Au départ, on trouve une interprétation de la colonisation comme processus de modernisation, puis comme dynamique de destruction-régénération, liée à l'« unification du monde ». L'auteur identifie spécialement les inflexions successives de la pensée de Marx résolument critique -, au sujet des questions coloniale et nationale, du caractère non linéaire de l'histoire, mais aussi de la différenciation des formations sociales. |
| Keywords: | Marxism, capitalism, colonization, destruction-regeneration, non linearity, social formations, Marxisme capitalisme colonisation violence destruction-régénération nonlinéarité formations sociales Marxism capitalism colonization violence destruction-regeneration non linearity social formations Classification JEL : B14 B51 N10, Marxisme, capitalisme, colonisation, violence, destruction-régénération, nonlinéarité, Formations sociales |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04796804 |
| By: | Samuel Bazzi; Abel Brodeur; Martin Fiszbein; Joanne Haddad |
| Abstract: | This paper explores how historical gender roles become entrenched as norms over the long run. In the historical United States, gender roles on the frontier looked starkly different from those in settled areas. Male-biased sex ratios led to higher marriage rates for women and lower for men. Land abundance favored higher fertility. The demands of childcare, compounded with isolation from extended family, markets, and social infrastructure, constrained female opportunities outside the home. Frontier women were less likely to report “gainful employment, ” but among those who did, relatively more had high-status occupations. Together, these findings integrate contrasting narratives about frontier women—some emphasizing their entrepreneurial independence, others their prevailing domesticity. The distinctive frontier gender roles, in turn, shaped norms over the long run. Counties with greater historical frontier exposure exhibit lower female labor force participation through the 21st century. Time use data suggests this does not come with additional leisure but rather with more household work. These gender inequalities are accompanied by weaker political participation among women. While the historical frontier may have been empowering for some women, its predominant domesticity reinforced inegalitarian gender norms over the long run. |
| Keywords: | American frontier, culture, fertility, gender norms, labor supply, marriage |
| JEL: | J12 J13 J22 N31 N91 O15 P16 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11598 |
| By: | Christian Flamant (AFD - Agence française de développement) |
| Abstract: | The labor theory of value has been rejected by Morishima on the grounds that it would be incompatible with joint production, which would create negative labor values. This article starts by recalling the various definitions of joint production, as well as the way they relate to the real world. For Morishima, the labor theory of value is a particular case of Sraffa's theory of production prices; it is recalled that in Sraffa's treatment of joint production the occurrence of negative multipliers and therefore of negative quantities comes from the construction of a standard commodity. Morishima extends this demonstration to labor values in the case of joint production, but the article shows that his example of giving negative labor values is absurd. Finally, using a method initially developed by statisticians to deal with joint production and simple matrix calculations, it is demonstrated that it is perfectly possible to obtain positive labor values in a theoretical but realistic model of joint production. |
| Keywords: | labor value, joint production, system of national accounts, input-output accounts |
| Date: | 2023–04–21 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04796268 |
| By: | Gauti B. Eggertsson; Sergey K. Egiev |
| Abstract: | This paper presents a unified framework to explain three major economic downturns: the U.S. Great Depression, the U.S. Great Recession, and Japan’s Long Recession. Temporary economic disruptions, such as banking crises and excessive debt accumulation, can drive natural interest rates into negative territory in the short term. At the same time, structural factors, including demographic decline and rising inequality, can depress natural interest rates over short and long horizons. A negative natural interest rate and the zero lower bound (ZLB) are necessary conditions for a liquidity trap. Credible monetary policy can counteract the adverse effects of short-run liquidity traps. Diminished monetary policy credibility or persistent negative natural rates may necessitate fiscal interventions. The framework sheds light on the macroeconomic challenges of low-interest-rate environments and underscores the central importance of policy regimes. We close by reflecting on the great macroeconomic question of our time: Will short-term interest rates collapse back to zero once the inflation surge of the 2020s moves to the back mirror and the political landscape in the US has dramatically changed? |
| JEL: | E0 E52 N12 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33195 |
| By: | Virginie Gouverneur (Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar) |
| Abstract: | Some commentators state that Marshall conceptualizes well-being primarily in terms of the consumer's and producer's surpluses, whose interdependence with moral character rests on the ability of markets to produce their effects on character spontaneously. The purpose of the present article is to show that evolutionary faith is not really enough to remove the tension between the economic and moral dimensions of Marshall's definition of well-being. Marshall understands that progress would not happen without assigning a special role to families and women in cultivating family affections as an essential means of harmonizing these two dimensions. To prove this point, the article examines several economic texts written before Marshall's major economic treatise, Principles of Economics, the first edition of which appeared in 1890. These texts have received little consideration in the existing literature about Marshall's treatment of the role of women in society. Yet they prefigure and allow a better understanding of the theory later expounded in Principles, apprehended here as the fruit of a long process of maturation that continues throughout revisions made in the successive editions of the book. |
| Keywords: | Alfred Marshall, family environment, role of women, well-being, progress |
| Date: | 2023–07–03 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04790314 |
| By: | Gary Richardson; David W. Wilcox |
| Abstract: | Congressional intent concerning the independence of the Federal Reserve matters because it protects the public from the politicization of monetary policy. Attempts to subordinate monetary policy to the President could easily end up in front of the Supreme Court. The outcome of such a case would depend importantly on the historical record. Understanding what Congress intended when it designed the decision-making structure of the Fed requires a clear understanding Marriner Eccles’ proposal for the structure of monetary policymaking in Title II of the Banking Act of 1935 and the Congressional response. Eccles' proposal vested monetary policymaking in a body beholden to the President. Eccles argued that leaders of the Fed should serve at the discretion of the President and implement the President's monetary program. The Senate and House rejected Eccles' proposal and explicitly designed the Fed's leadership structure to limit politicians'—particularly the President's—influence on monetary policymaking. |
| JEL: | B22 B26 E5 G2 N12 N22 N42 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33174 |
| By: | Arnaud Deseau (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - École Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique, AMU - Aix Marseille Université) |
| Abstract: | The Malthusian trap is a well recognized source of stagnation in per capita income prior to industrialization. However, previous studies have found mixed evidence about its exact strength. This article contributes to this ongoing debate by estimating the speed of convergence for a panel of 9 preindustrial European economies over a long period of time (14th–18th century). The analysis relies on a calibrated Malthusian model for England and -convergence regressions. I find evidence of significant differences in the strength of the Malthusian trap between preindustrial European economies. The strongest estimated Malthusian trap is in Sweden, with a half-life of 20 years. The weakest estimated Malthusian trap is in England, with a half-life of about 230 years. This implies that some preindustrial economies were able to experience prolonged variations in their standards of living after a shock, while still being subject to Malthusian stagnation in the long run. |
| Keywords: | Convergence, Homeostasis, Malthusian trap, Preventive checks, Positive checks, Malthusian model, Beta-convergence |
| Date: | 2024–10–26 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04828757 |
| By: | Bernard Forgues (EM - EMLyon Business School) |
| Date: | 2024–10–28 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04792326 |
| By: | Kenneth S. Rogoff; Paul Schmelzing |
| Abstract: | We present new long-run samples of r-g series over centuries for key economies in the international financial system. Across a wide variety of econometric approaches, and including duration-matched constructions, we demonstrate strong evidence of trend stationarity in these series. Although we confirm trend stationarity, we find robust evidence of a major structural break in the first third of the 20th century. A multi-century downward trend in r-g appears to have levelled off in the years around 1930, and since then r-g has shown high volatility coupled with clear upwards pressure: notably, though real interest rates may still appear favorably low, aggregate growth rates are drifting downwards in advanced economies since the interwar period, creating secular pressures on r-g and debt sustainability. Our results stand in contrast to much recent literature and suggest the need for much more caution in assuming benign trends in global public debt sustainability. At the same time, when adding riskier elements of capital returns, the data lend support for structurally increasing "dynamic efficiency". We then associate the key 1930s inflection to the establishment and growth of welfare states in advanced economies, and the surge in non-defense, non-interest expenditures. |
| JEL: | N20 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33202 |
| By: | Santarcángelo, Juan (Universidad Nacional de Quilmes); Cuevas, Benjamín (Universidad Nacional de Quilmes) |
| Abstract: | Entre 1950 y 2015 Brasil ha transitado un sendero de crecimiento económico impulsado por su entramado industrial, que desde mediados de los años de 1970 se ha transformado en el más desarrollado de América Latina. Sin embargo, la tendencia de desarrollo no ha sido uniforme y tanto la dinámica de acumulación de capital como la relevancia que han tenido las diferentes ramas industriales en las diferentes etapas, la implementación concreta de las políticas industriales y su rol en la política económica nacional, ha sido resultado de las diferentes disputas entre clases sociales y grupos económicos. El objetivo de este artículo es analizar, a partir de la concepción de patrones de acumulación, el impacto de la política económica e industrial brasileña en la dinámica productiva del sector manufacturero y en la inserción exterior del país desde principios del siglo XXI hasta 2019, específicamente en las etapas correspondientes al neo-desarrollismo y al último neoliberalismo. |
| Keywords: | industria; Brasil; comercio exterior; desarrollo económico; industry; Brazil; foreign trade; economic development. |
| JEL: | O14 |
| Date: | 2024–03–03 |
| URL: | https://d.repec.org/n?u=RePEc:col:000418:021276 |
| By: | Heng-fu Zou (The World Bank) |
| Date: | 2025–01–06 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:718 |
| By: | Berger, Thor (Swedish Collegium for Advanced Study (SCAS),); Karadja, Mounir (Department of Economics, Uppsala University); Prawitz, Erik (Department of Economics and Statistics, Linnaeus University) |
| Abstract: | We document that large cities were instrumental in shaping women’s work and family outcomes in the early 20th century. We focus on migrants to Stockholm, Sweden’s largest city, using representative, linked census data. Female migrants to Stockholm saw persistent changes in work and family outcomes over the life-cycle. Migrants were approximately 50 percentage points more likely to enter the labor force and less likely to marry or have children than their sisters migrating to rural areas. They experienced skill-upgrading and higher real incomes, without adverse mortality effects. Early structural shifts towards services partly explain these patterns. |
| Keywords: | Female labor force participation; Migration; Urbanization; Economic history |
| JEL: | I15 N93 Q25 |
| Date: | 2025–01–12 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:iuiwop:1516 |
| By: | Otaviano Canuto; Philip Yang |
| Abstract: | The digital revolution is bringing about a dramatic shift in power, from labor to capital. We assess what the impact of this transformation might be on land as a factor of production. The digital revolution is not happening in a historical vacuum. It unfolds within a framework of confrontation or collusion between market forces and government forces. Depending on the market power that companies can exercise, the digital transition will have different impacts on income distributions between capital, labor, and land, as well as on income distribution within capital itself. This digital transition is advancing during a period of history marked by the worsening of four major crises, the effects of which are interconnected: international, environmental, democratic, and distributive. Urban land management, based on collective purpose, must be recognized as a strategic asset in building a future in which progress is guided by equity, resilience, and social responsibility, with human dignity and the environment at the center of decisions. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpaeco:pp_17-24 |
| By: | Rémy Herrera (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The texts collected here and made available to Spanish-speaking readers constitute a body of work of immense theoretical and practical value. Although they are not the complete works of Isabel Monal - her writings would not fit into a single volume, far from it - what they do offer a glimpse of is an invaluable body of work. I shall endeavour to explain, briefly, how the availability of these works on Marx and Marxism represents an opportunity and a considerable contribution for us all, but also to relate them to and put them in dialogue with other major writings by the author, in particular those she devoted to José Martí and Cuba, in order to show their general organisation and their profound coherence. |
| Date: | 2024–02 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04796790 |
| By: | Heng-fu Zou (The World Bank) |
| Abstract: | Alan Macfarlane's analysis of England's pre-industrial capitalism underscores the critical structural and institutional foundations that facilitated its economic ascent. England's enduring market economy, financial advancements, relatively free labor market, robust legal protections, and agrarian capitalism fostered a dynamic economic environment well before the Industrial Revolution. Complementing this perspective, Deirdre McCloskey's Bourgeois Trilogy highlights the transformative cultural and ideological shifts that legitimized and accelerated these economic developments. McCloskey emphasizes that England's pivotal innovation was its cultural reevaluation of commerce, innovation, and entrepreneurship. The emergence of bourgeois virtues -- prudence, industriousness, and ingenuity—created a societal ethos that celebrated enterprise, risk-taking, and creativity. According to McCloskey, these ideological transformations distinguished England from other regions with comparable structural advantages, enabling the rapid economic expansion of the Industrial Revolution. Combined, these viewpoints illustrate that England's capitalist success was not solely the outcome of institutional frameworks or economic practices but also the result of a profound cultural shift. The interplay between structural readiness and ideological evolution provides a holistic explanation for England's unique position as the birthplace of modern capitalism. |
| Date: | 2025–01–06 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:722 |
| By: | Heng-fu Zou (IAS, Wuhan University) |
| Abstract: | Alexis de Tocqueville's Democracy in America offers a profound analysis of the decentralized, self-organizing nature of American society in the 1830s. While Tocqueville never explicitly labeled this system as "anarchy, " his observations describe a societal framework that we may term "American Anarchy." This paper explores how this concept reflects the coexistence of liberty and equality in early American democracy, capturing the dynamic, decentralized, and participatory nature of its political and socialstructure. Tocqueville's work reveals how these principles interacted to create a unique and enduring model of governance. |
| Date: | 2025–01–06 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:732 |
| By: | Heng-fu Zou (The World Bank) |
| Abstract: | By the 1880s, the United States had surpassed Britain as the world's largest economy, and by the 1920s, New York City had overtaken London as the world's leading financial center. This remarkable ascent cannot be adequately explained by models of economic growth focused on human capital accumulation, R&D, or technological innovation as championed by Paul Romer (1986, 1991), Robert Lucas (1988), and Aghion and Howitt (1992). These theories, while offering insights into the mechanics of innovation, fail to capture the true drivers of the U.S. economic miracle: liberal ideas of liberty, equality, dignity, and individualism. As Deirdre McCloskey has argued, and Edmund Phelps has elaborated in Mass Flourishing, it was these ideas—rooted in England's traditions yet unfettered by aristocratic constraints in America—that enabled ordinary people to act as entrepreneurs and grassroots innovators, fueling the dynamism of the U.S. economy. |
| Date: | 2025–01–06 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:723 |
| By: | Vincent Chatellier (SMART - Structures et Marché Agricoles, Ressources et Territoires - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement); Hervé Guyomard (SDAR Bretagne Normandie - Services déconcentrés d'appui à la recherche Bretagne-Normandie - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Laurent Piet (SMART - Structures et Marché Agricoles, Ressources et Territoires - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement) |
| Abstract: | This paper looks at the transformation of the Common Agricultural Policy (CAP) subsidies system over the period 1992 to 2023. After presenting the main stages in the structure of the CAP over the last thirty years, attention is drawn to the varying degrees of dependence of French farm income on direct subsidies. A critical analysis of the main orientations adopted for the post-2023 CAP is then proposed. |
| Abstract: | Cette communication traite de la transformation des modalités d'octroi des subventions de la Politique Agricole Commune (PAC) au cours de la période 1992 à 2023. Après avoir présenté les principales grandes étapes qui ont structuré la PAC depuis trente ans, une attention est portée à la plus ou moins grande dépendance du revenu des exploitations agricoles françaises aux aides directes. Une analyse critique des principales orientations arrêtées pour la PAC post 2023 est ensuite proposée. |
| Keywords: | CAP, Subsidies, Farms, Income, FADN, France, PAC, Subventions, Exploitations agricoles, Revenus, RICA |
| Date: | 2024–12–05 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04829621 |
| By: | Naima Aba (Université Hassan II, Casablanca - Faculté des sciences Juridiques, Economiques et Sociales de Mohammedia); Fatima Ezzahra (Université Hassan II, Casablanca, - Faculté des sciences Juridiques, Economiques et Sociales de Mohammedia); Ayoub Bourass (Université Hassan II, Casablanca - Faculté des sciences Juridiques, Economiques et Sociales de Mohammedia) |
| Abstract: | Rooted in traditional Islamic and community-based practices, the Moroccan social protection system has evolved over time, influenced by historical dynamics as well as the Bismarckian and Keynesian models. Since Independence, Morocco has sought to reform the unequal system inherited from the colonial period in order to foster balanced social and economic development. However, the structural adjustment policies of the 1980s weakened the system, exacerbating inequalities and leaving non-salaried workers and vulnerable populations on the fringes of social protection. In the early 2000s, major reforms were introduced to expand social coverage, notably with the creation of Mandatory Health Insurance (2005) and the Medical Assistance Scheme (2011). While these initiatives have led to significant progress, they have also revealed persistent challenges in terms of financing and governance, threatening the long-term viability of the system. The objective is to assess the extent to which these successive reforms have met the growing needs of the population, while identifying the limitations of these mechanisms in terms of financing, governance, and equity. The methodology adopted is based on in-depth documentary research and a theoretical review serving as an analytical framework. It combines historical and critical analysis of the transformations in Morocco's social protection system with an evaluation of the public policies implemented. This approach uses both qualitative and quantitative data to explore the goals, impacts, and limitations of the reforms, highlighting the complex interactions between political orientations, socio-economic constraints, and beneficiaries' expectations. |
| Abstract: | Ancré dans les pratiques islamiques et communautaires traditionnelles, le système de protection sociale marocain s'est transformé au fil du temps, influencé par les dynamiques historiques ainsi que par les modèles bismarckien et keynésien. Depuis l'Indépendance, le Maroc s'attèle à réformer l'héritage inégalitaire de la période coloniale afin de favoriser un développement équilibré sur les plans social et économique. Cependant, les politiques d'ajustement structurel des années 1980 ont fragilisé le système, exacerbant les inégalités et laissant les nonsalariés et les populations vulnérables en marge de la protection sociale. Au début des années 2000, des réformes majeures ont été introduites pour élargir la couverture sociale, notamment avec l'Assurance Maladie Obligatoire (2005) et le Régime d'Assistance Médicale (2011). Bien que ces initiatives aient permis des avancées notables, elles ont révélé des défis persistants en matière de financement et de gouvernance, compromettant la viabilité à long terme du système. L'objectif est d'évaluer dans quelle mesure ces réformes successives, ont permis de répondre aux besoins croissants de la population, tout en identifiant les limites de ces dispositifs en matière de financement, de gouvernance et d'équité. La méthodologie adoptée repose sur une recherche documentaire approfondie et une revue théorique servant de cadre analytique. Elle combine une analyse historique et critique des transformations du système de protection sociale marocain avec une évaluation des politiques publiques mises en œuvre. Cette approche mobilise des données qualitatives et quantitatives pour explorer les objectifs, les impacts et les limites des réformes, en mettant en lumière les interactions complexes entre les orientations politiques, les contraintes socio-économiques et les attentes des bénéficiaires. |
| Keywords: | Bismarckian theory, Beveridgean theory, social protection financing, Social protection system, Système de protection sociale, Théorie Bismarckienne, Théorie Bevergidienne, financement de la protection sociale |
| Date: | 2024–12–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04836061 |
| By: | Heng-fu Zou (IAS, Wuhan University) |
| Date: | 2025–01–06 |
| URL: | https://d.repec.org/n?u=RePEc:cuf:wpaper:729 |
| By: | Rémy Herrera (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This article intends to return to Marx's theory of the State to show that this author left us numerous and fruitful elements, the analyzes of which deserve to be meditated on today. From the conception of the State as an alienated expression of civil society to that of the organization of the dominant class, then from that of the apparatus or machine to that of the lever of the revolution, Marx's interpretation has evolved to become more complex, and enriched. We should also know how to situate this State at the heart of the dynamic of capital accumulation, in particular through its role relative to money, itself located between value and profit, but also in its interventions in colonial and commercial policies. Finally, the article insists on the fact that capitalism is today in an impasse and doomed, its State being experiencing more and more difficulties in the face of the deep contradictions of this system. This is the reason why Marxism still remains an essential theoretical reference. |
| Keywords: | Marxian theory, State, capitalism, crisis, revolution |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04796811 |
| By: | Aslihan Asil; Paulo Ramos; Amanda Starc; Thomas G. Wollmann |
| Abstract: | A rollup is a series of acquisitions through which a financial sponsor consolidates ownership. Increasingly, this strategy is shaping economically important markets, but historically, it has escaped antitrust enforcement. We study this phenomenon in the anesthesia industry, site of the first rollup-based antitrust case in US history. First, we identify 18 other rollups that are observationally similar to the litigated ones. Next, we show that rollups consolidate ownership and that prices rise sharply as competing practices are acquired. Last, we estimate a structural bargaining model and simulate counterfactual equilibria under remedies that courts are likely to consider. |
| JEL: | I11 L1 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33217 |
| By: | Kris James Mitchener; Kirsten Wandschneider |
| Abstract: | The Great Depression is the canonical case of a widespread currency war, with more than 70 countries devaluing their currencies relative to gold between 1929 and 1936. What were the currency war’s effects on trade flows? We use newly-compiled, highfrequency bilateral trade data and gravity models that account for when and whether trade partners had devalued to identify the effects of the currency war on global trade. Our empirical estimates show that a country’s trade was reduced by more than 21% following devaluation. This negative and statistically significant decline in trade suggests that the currency war destroyed the trade-enhancing benefits of the global monetary standard, ending regime coordination and increasing trade costs. |
| Keywords: | currency war, monetary regimes, gold standard, competitive devaluations, “beggar thy neighbour”, gravity model |
| JEL: | F14 F33 F42 N10 N70 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11589 |
| By: | Michael Haylock; Martin Karlsson; Maksym Obrizan |
| Abstract: | Economic growth in Sweden during the early 20th Century was largely driven by industry. A significant contributor to this growth was the installation of different kinds of engines used to power factories. We use newly digitized data on engines and their energy source by industry sector, and combine this with municipality-level data of workers per industry sector to construct a new variable reflecting economic output using dirty engines. In turn, we assess the average externality of dirty output on mortality in the short-run, as defined by deaths over the population in the baseline year. Our results show substantial increases of up to 17% higher mortality in cities where large increases to dirty engine installations occurred, which is largely driven by the elderly. We also run a placebo test using clean powered industry and find no effect on mortality. |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2412.01532 |
| By: | Ran Abramitzky; Jennifer K. Kowalski; Santiago Pérez; Joseph Price |
| Abstract: | We compile, transcribe, and standardize historical records for 2.5 million students at 65 elite (private and public) U.S. colleges. By combining these data with more recent survey and administrative data, we assemble the largest dataset on the socioeconomic backgrounds of students at American colleges spanning the last 100 years. We document the following: First, despite a large increase in the share of lower-income students in the overall college-going population, the representation of these students at elite private or public colleges has remained at similarly low levels throughout the last century. Second, the representation of upper-income students at elite colleges decreased after World War II, but this group has regained its high representation since the 1980s. Third, while there has been no increase in the economic diversity of elite private and public colleges, these colleges have become more racially and geographically diverse. Fourth, two major policy changes in the history of American higher education, namely the G.I. Bill after World War II and the introduction of standardized tests for admissions, had little success in increasing the representation of lower- and middle-income students at elite colleges. |
| JEL: | I23 I24 N32 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33164 |
| By: | Maya, Guillermo (Universidad Nacional de Colombia) |
| Abstract: | El 5 de junio de 2023 fue el tricentenario del nacimiento de Adam Smith, ocasión que sirvió para que los periódicos y revistas convirtieran a Smith en un personaje que cobra vigencia. La Riqueza de las Naciones, su libro más conocido, fue publicado en 1776, hace 248 años. Este libro es fundacional de la economía política, y todavía sigue influyendo sobre los asuntos económicos contemporáneos, y los economistas ortodoxos usan su autoridad para impulsar e imponer las políticas de libre comercio sobre la base que todos los países se benefician de un comercio abierto, sin aranceles y diversos impedimentos. |
| Keywords: | Adam Smith; La Riqueza de las Naciones. |
| Date: | 2024–03–03 |
| URL: | https://d.repec.org/n?u=RePEc:col:000418:021272 |
| By: | Anup Malani; Ari Jacob |
| Abstract: | The world has experienced a dramatic decline in total fertility rate (TFR) since the Industrial Revolution. Yet the consequences of this decline flow not merely from a reduction in births, but from a reduction in the number of surviving children. We propose a new measure of the number of surviving children per female, which we call the effective fertility rate (EFR). EFR can be approximated as the product of TFR and the probability of survival. Moreover, TFR changes can be decomposed into changes that preserve EFR and those that change EFR. We specialized EFR to measure the number of daughters that survive to reproduce (reproductive EFR) and the number children that survive to become workers (labor EFR). We use three data sets to shed light on EFR over time across locations. First, we use data from 165 countries between 1950-2019 to show that one-third of the global decline in TFR during this period did not change labor EFR, suggesting that a substantial portion of fertility decline merely compensated for higher survival rates. Focusing on the change in labor EFR, at least 40% of variation cannot be explained by economic factors such as income, prices, education levels, structural transformation, an urbanization, leaving room for explanations like cultural change. Second, using historical demographic data on European countries since 1750, we find that there was dramatic fluctuation in labor EFR in Europe around each of the World Wars, a phenomenon that is distinct from the demographic transition. However, prior to that fluctuation, EFRs were remarkably constant, even as European countries were undergoing demographic transitions. Indeed, even when EFRs fell below 2 after 1975, we find that EFRs remained stable rather than continuing to decline. Third, data from the US since 1800 reveal that, despite great differences in mortality rates, Black and White populations have remarkably similar numbers of surviving children over time. |
| JEL: | J1 J13 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33175 |
| By: | Thibaud Nicolas (ANHIMA - Anthropologie et Histoire des Mondes Antiques - UP1 - Université Paris 1 Panthéon-Sorbonne - EHESS - École des hautes études en sciences sociales - EPHE - École Pratique des Hautes Études - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité) |
| Abstract: | Could a god act as a rational economic actor? In this paper, we shall try to answer this seemingly odd question. In Ancient Mesopotamia, gods and goddesses were acting as individuals: that is the reason why this paper will try to explain how Šamaš, the Mesopotamian Sungod, was acting in the economic and financial fields. We will focus on the Ebabbar temple, built in Sippar in the first half of the second millennium BCE, in order to answer a simple and yet complex question: how rational could religion-based decisions be? There is evidence that ancient Mesopotamians had their own economic fictions, as we have ours. If they probably did not believe in a rational homo oeconomicus, this paper intends to show that the Sungod and his paredra Aya were often acting in a logical and rational way as they were lending silver, bargaining, and supplying the needy. This paper will also try to demonstrate that behind this economically active god we can find a social network of priests, notables and other individuals interacting in order to uphold the wealth and power of the Sungod. We will try to understand how rational their choices were. Finally, we will sketch the portray of a debt-based economy with its own coherence and rationality. |
| Keywords: | Temples, Debt, Maximization, Charity, Sippar, Old-Babylonian period, Assyriology |
| Date: | 2023 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04816677 |
| By: | Almén, Daniel (Institute for Housing and Urban Research, Uppsala University); Elinder, Mikael (Department of Economics, Uppsala University); Engström, Per (Department of Economics, Uppsala University); Erixson, Oscar (Institute for Housing and Urban Research, Uppsala University); Lundberg, Erik (Department of Economics, Uppsala University); Palme, Mårten (Department of Economics, Stockholm University) |
| Abstract: | We exploit education reforms in Sweden and other European countries to estimate the causal effects of longer and modernized compulsory education on civic engagement. In most countries, compulsory education was extended by 1–2 years, and the curricula were reformed to better foster democratic and socially responsible citizens. We use high-quality, population-wide register data from Sweden and survey data from the other countries on key measures of civic engagement: voting in elections, charitable giving, and blood donations. Our estimates are generally precise and close to zero, allowing us to rule out even comparatively small positive effects. These results suggest that the post-WWII education reforms in Europe under study were unsuccessful in fostering more civic-minded citizens, and the additional years of schooling attributed to these reforms did not contribute to the positive association between educational attainment and civic engagement also observed in the data. |
| Keywords: | Education reforms; Civic engagement; Prosocial behaviour; Political participation; Voting; Charitable giving; Blood donation |
| JEL: | D64 D73 I21 N34 |
| Date: | 2025–01–02 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:iuiwop:1515 |
| By: | Gauti B. Eggertsson; Finn D. Schüle |
| Abstract: | In standard New Keynesian models, future interest rate cuts have larger effects than current cuts—this is called the forward guidance puzzle. We argue that the forward guidance puzzle is not a puzzle. We show the puzzle arises from an implausibly large monetary regime change, exceeding anything in U.S. history since the Great Depression. By calibrating our model to four regime changes during the U.S. Great Depression, disciplined by changes in long-term bond yields, we find the model’s predictions are broadly consistent with historical data. |
| JEL: | E40 E5 E50 N0 N12 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33180 |
| By: | Gallagher, Catherine |
| Keywords: | Arts and Humanities, 150w, UCB, Women's Faculty Club |
| Date: | 2025–01–17 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:cshedu:qt1b91w1p7 |
| By: | Jonas Grangeray (Université Sorbonne Paris Nord, CEPN - Centre d'Economie de l'Université Paris Nord - CNRS - Centre National de la Recherche Scientifique - Université Sorbonne Paris Nord) |
| Abstract: | What is Modern Monetary theory (MMT)? Just vulgar and dangerous "money printing" economics as many of its critics claim? By articulating it with with circuitist and horizontalist post-keynesian theories, we demonstrate that MMT is not "money printing" economics and that the development of a neo chartalist perspective, based on an in-depth description of interbank transactions and their interactions with monetary and fiscal policies, highlights the central bank stabilization of the interest rate in face of treasury securities issues. In the United States, this stabilization requires a coordination between the Fed and the treasury. |
| Abstract: | Qu'est-ce que la Modern Monetary Theory (MMT) ? Juste une vulgaire et dangereuse économie de la « planche à billets » comme l'affirme nombre de ses critiques ? En l'articulant avec les théories post-keynésiennes circuitiste et horizontaliste, nous démontrons que la MMT n'est pas une économie de la « planche à billets » et que le développement d'une perspective néo-chartaliste, s'appuyant sur une description approfondie des opérations interbancaires et de leurs interactions avec les politiques monétaire et budgétaire, met en évidence la stabilisation du taux d'intérêt opérée par la banque centrale face aux émissions de titres du trésor. Aux États-Unis, cette stabilisation nécessite une coordination entre la Fed et le trésor. |
| Keywords: | Modern monetary theory, monetization, interest rate, endogenous money, theory of the monetary circuit, horizontalism, Théorie monétaire moderne, monétisation, taux d'intérêt, monnaie endogène, théorie du circuit monétaire, horizontalisme |
| Date: | 2024–01–31 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04812626 |
| By: | Alessandro Massaad; Rene Moawad; Oumaima Nijad Fares; Sahaphon Vairungroj |
| Abstract: | We revisit the long-only trend-following strategy presented in A Century of Profitable Industry Trends by Zarattini and Antonacci, which achieved exceptional historical performance with an 18.2% annualized return and a Sharpe Ratio of 1.39. While the results outperformed benchmarks, practical implementation raises concerns about robustness and evolving market conditions. This study explores modifications addressing reliance on T-bills, alternative fallback allocations, and industry exclusions. Despite attempts to enhance adaptability through momentum signals, parameter optimization, and Walk-Forward Analysis, results reveal persistent challenges. The results highlight challenges in adapting historical strategies to modern markets and offer insights for future trend-following frameworks. |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2412.14361 |
| By: | Mikko Ketokivi (IE Business School, IE University); Sebastien M Fosse (Clermont School of Business/CleRMa); Peter Kawalek (Loughborough University) |
| Abstract: | Abstract How do scholars formulate arguments about economic inequality? What is the role of empirical analysis? In what ways, if any, is the debate informed by ethical considerations? In this paper, we address these questions by evaluating one of the main arguments in Thomas Piketty's 2014 book Capital in the Twenty-First Century , along with its endorsements and rebuttals. Applying Stephen Toulmin's model of arguments to Piketty unearths a complex argument structure that must be understood for an evaluation to be possible. Of particular importance are the warrants that Piketty used to justify his conclusions from the empirical material. Our analysis revealed that the most influential rebuttals were targeted not at Piketty's empirical inferences but the way he used these inferences to justify his claims. We also found value judgments to be an essential part of the justification process, making Piketty's claims ultimately embedded in ethical considerations. We conclude that value judgments are intrinsic to scholarly arguments not only in economic inequality debates but also more broadly. |
| Keywords: | Argument structure Economic inequality Ethical embeddedness, Argument structure, Economic inequality, Ethical embeddedness |
| Date: | 2024–05–21 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04739363 |
| By: | Chumbita, Joan Severo (Universidad Nacional de Lanús) |
| Abstract: | A fin de explorar la consistencia teórica del concepto de desarrollo económico de Alfred Marshall, se revista aquí el estado del arte sobre categorías centrales para su fundamentación. En este sentido, se presentan discusiones sobre tres nociones principales: los rendimientos crecientes a escala, las condiciones competitivas y el principio de la demanda efectiva. Ello implica considerar, primero, la perspectiva microeconómica sobre la teoría del valor bajo el equilibrio estático en condiciones competitivas con rendimientos crecientes a escala; segundo, la perspectiva macroeconómica, sustentada en el principio de la demanda efectiva, así como la vinculación entre ambas dimensiones de análisis con la temática central de la distribución del ingreso. Estas nociones teóricas fundamentan la concepción del desarrollo económico del autor, así como, más precisamente, la política económica de estímulo a la inserción industrial en el comercio exterior, a fin de proveer empleo estable en un contexto de acelerados cambios en la técnica y la demanda, y la mejora del salario real asociada al incremento de la productividad y la distribución progresiva del ingreso. |
| Keywords: | desarrollo económico; Alfred Marshall; rendimientos crecientes a escala; demanda efectiva; condiciones competitivas; distribución; economic development; Alfred Marshall; increasing returns to scale; effective demand; competitive conditions; distribution. |
| JEL: | B13 |
| Date: | 2024–03–03 |
| URL: | https://d.repec.org/n?u=RePEc:col:000418:021275 |
| By: | Pierre Cahuc (Sciences Po) |
| Abstract: | This article provides an overview of the economic literature on short-time work. It presents the main characteristics of short-time work since its emergence in Germany in the 1930s. It analyzes its effectiveness as a job preservation mechanism, drawing on theoretical models and empirical studies. It concludes by highlighting the areas that future research could explore to address the most significant gaps in our understanding of short-time work. |
| Keywords: | Short-time work, furlough, employment, working hours |
| JEL: | J23 J41 J63 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:crm:wpaper:2432 |
| By: | Rémy Herrera (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This new volume of Research in Political Economy is devoted to themes related to various "trajectories of declining and destructive capitalism, " within the framework of contemporary Marxism. To discuss these themes, we brought together 15 texts, written by 20 social scientists from 10 countries. These authors are, for some, internationally renowned and experienced personalities, and for others, young researchers starting their careers, but all working in their own way to strengthen Marxism in order to apply its powerful methods to the interpretation and, above all, the transformation of the world. Their contributions deal with 12 economies, covering five continents: Germany, Great Britain, France, Spain, Senegal, South Africa, Lebanon, Iran, India, Papua New Guinea and Chile in the current period or very near pastplus two other countries, China and Cuba, in their more distant past preceding their respective socialist revolutions. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04796827 |
| By: | Nicolas Bonnefond (REGARDS - Recherches en Economie Gestion Agroressources Durabilité et Santé - CRIEG - Centre de Recherche Interdisciplinaire Economie Gestion - MSH-URCA - Maison des Sciences Humaines de Champagne-Ardenne - URCA - Université de Reims Champagne-Ardenne) |
| Abstract: | The article examines the issue of agricultural land by analyzing its historical developments and contemporary challenges related to land use. The French land policy, which supported the transformation of family farming after World War II, is now facing difficulties due to globalization and economic changes. The shift in the European Union's Common Agricultural Policy (CAP) since the 1990s has promoted the globalization of the French and European agricultural sectors. At the same time, land artificialization reduces the area of agricultural land, increasing pressure on biodiversity and future land use. On a global scale, land issues have become geopolitical, with practices such as land grabbing and a resurgence of the concept of "food sovereignty" as a response to economic and geopolitical crises. The article emphasizes the importance of reassessing land issues to address contemporary challenges. |
| Abstract: | L'article examine la question du foncier agricole en analysant ses évolutions historiques et les enjeux contemporains liés à l'usage de la terre. La politique foncière française, qui a soutenu la transformation de l'agriculture familiale après la Seconde Guerre mondiale, se trouve aujourd'hui en difficulté face à la mondialisation et aux mutations économiques. La mutation de la politique agricole commune (PAC) de l'UE, à partir des années 1990, a favorisé la mondialisation du secteur agricole français et européen. Parallèlement, l'artificialisation des sols réduit la superficie des terres agricoles, accentuant la pression sur la biodiversité et l'usage futur des sols. À l'échelle mondiale, la question du foncier devient géopolitique, avec des pratiques telles que l'accaparement des terres et une résurgence du concept de "souveraineté alimentaire" comme réponse aux crises économiques et géopolitiques. L'article souligne l'importance de réévaluer la question foncière pour répondre aux défis contemporains. |
| Keywords: | landtake, agriculture, économie, foncier, terre, politique foncière, artificialisation, accaparement, souveraineté alimentaire |
| Date: | 2023–06 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04807232 |
| By: | Taylor Jaworski; Erik O. Kimbrough; Nicole Saito |
| Abstract: | We propose a new measure of cultural distance based on differences in the composition of first names and church denominations between locations. We use a gravity equation to estimate the elasticity of migration flows with respect to the two components of cultural distance as well as a standard measure of travel costs via the transportation network in the United States between 1850 and 1870. Our findings indicate a modest role for cultural distance relative to travel costs in explaining migration flows. We construct migration costs that reflect the distinct contributions of cultural distance and travel costs, and use an economic geography model of migration to quantify their effects. Travel costs are substantially more important than cultural distance for aggregate welfare. Nevertheless, we provide evidence that the components of cultural distance play a role in shaping of how many people move and their final destinations. |
| JEL: | N0 N71 N91 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33192 |
| By: | Maria D. Tito |
| Abstract: | Since the early 2000s, there has been a growing divergence between the index of industrial production (IP) and the goods component of GDP—hereafter, goods GDP—breaking the close correlation the two series had maintained in earlier decades (figure 1). This note revisits the factors behind this divergence and provides a novel quantification of their role. |
| Date: | 2025–01–10 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgfn:2025-01-10-2 |
| By: | Thilo N. H. Albers; Charlotte Bartels; Moritz Schularick |
| Abstract: | German history over the past 125 years has been turbulent. Marked by two world wars, revolutions and major regime changes, as well as a hyperinflation and three currency reforms, expropriations and territorial divisions, it comprises extreme shocks to study the role of historical events, taxation, asset price changes, portfolio heterogeneity in affecting the wealth distribution in the long run. Combining tax and archival data, household surveys, historical national accounts, and rich lists, we document that the top 1%wealth share has fallen by half, from close to 50% in 1895 to 26% today. Nearly all of this decline was the result of changes that occurred between 1914 and 1952. Using a novel decomposition framework, we show that collapsing equity prices after World War I and in the Great Depression as well as taxation in the aftermath of World War II stand out as great equalizers in 20th century German history. After unification in 1990, two trends have left their mark on the German wealth distribution. Households at the top made substantial capital gains from rising business wealth while the middle-class had large capital gains in the housing market. The wealth share of the bottom 50% has halved since 1990. Our findings speak to the importance of historical shocks to the valuation of existing wealth and taxation in driving the evolution of the wealth distribution over the long run. In addition, our data revisions reveal that Germany’s current wealth-income ratio is about 120 percentage points higher than previously thought. |
| Keywords: | Wealth inequality, portfolio heterogeneity, saving, wealth taxation |
| JEL: | D31 E01 E21 H2 N3 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:diw:diwwpp:dp2105 |
| By: | Leonardo D'Amico; Edward L. Glaeser; Joseph Gyourko; William R. Kerr; Giacomo A.M. Ponzetto |
| Abstract: | We document a Kuznets curve for construction productivity in 20th-century America. Homes built per construction worker remained stagnant between 1900 and 1940, boomed after World War II, and then plummeted after 1970. The productivity boom from 1940 to 1970 shows that nothing makes technological progress inherently impossible in construction. What stopped it? We present a model in which local land-use controls limit the size of building projects. This constraint reduces the equilibrium size of construction companies, reducing both scale economies and incentives to invest in innovation. Our model shows that, in a competitive industry, such inefficient reductions in firm size and technology investment are a distinctive consequence of restrictive project regulation, while classic regulatory barriers to entry increase firm size. The model is consistent with an extensive series of key facts about the nature of the construction sector. The post-1970 productivity decline coincides with increases in our best proxies for land-use regulation. The size of development projects is small today and has declined over time. The size of construction firms is also quite small, especially relative to other goods-producing firms, and smaller builders are less productive. Areas with stricter land use regulation have particularly small and unproductive construction establishments. Patenting activity in construction stagnated and diverged from other sectors. A back-of-the-envelope calculation indicates that, if half of the observed link between establishment size and productivity is causal, America’s residential construction firms would be approximately 60 percent more productive if their size distribution matched that of manufacturing. |
| JEL: | D24 E23 L7 R31 R52 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33188 |
| By: | Charles Yuji Horioka |
| Abstract: | This paper explores the determinants of the level of, and trends over time in, Japan’s household saving rate, with emphasis on the impact of the age structure of the population, and makes projections about future trends therein. The paper finds that Japan’s household saving rate has not always been high either absolutely or relative to other countries and that it was only during the 1961-86 period that it exceeded 15%. Past and future trends in Japan’s household saving rate can largely be explained by changes in the age structure of her population, but declines in the saving rate of retired elderly households is a more important explanation for the recent decline in the household saving rate. However, it is likely that other factors such as the unavailability of consumer credit, the unavailability of social safety nets, high rates of economic (income) growth, tax breaks for saving, saving promotion policies, and high and rising land and housing prices are also partial explanations for why Japan’s household saving rate was so high during the 1961-86 period and why it declined so much subsequently. Finally, we project that Japan’s household saving rate will fall even further though not necessarily at a rapid rate. |
| JEL: | D10 D11 D12 D14 D15 D64 E21 H55 J14 J26 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:33181 |