Open Access. Powered by Scholars. Published by Universities.®

Economic History Commons

Open Access. Powered by Scholars. Published by Universities.®

Selected Works

2012

Discipline
Institution
Keyword
Publication
File Type

Articles 1 - 30 of 45

Full-Text Articles in Economic History

Struggling Recovery And Economic Policy Uncertainty: Testimony Before The Joint Revenue Hearing, House And Senate Ways And Means Committees, Massachusetts State House, Boston, Ma, Christian Weller Dec 2012

Struggling Recovery And Economic Policy Uncertainty: Testimony Before The Joint Revenue Hearing, House And Senate Ways And Means Committees, Massachusetts State House, Boston, Ma, Christian Weller

Christian Weller

The U.S. economy is in the fourth year of a recovery that started in June 2009. The fact that the economy is in recovery, even modestly, is something of a miracle given how stacked the deck is against it. This is absolutely unique in American economic history: There has never been a recovery without the housing market expanding substantially as well; There has never been a recovery with state and local governments shrinking for three years in a row; There has never been a recovery with households owing, on average, well more than 100 percent of their after-tax income in …


The Bank Of Tanzania (Bot) As The Custodian Of The Tanzanian Economy: Opportunities And Challenges, Conrad John Masabo Mr. Dec 2012

The Bank Of Tanzania (Bot) As The Custodian Of The Tanzanian Economy: Opportunities And Challenges, Conrad John Masabo Mr.

Conrad John Masabo Mr.

When Tanzania embarked on fundamental transformation of its economy almost two decades ago one of the top agenda in the economic reforms was the need to overhaul the financial system. And in view of pivotal role it plays in the country’s economy, the banking sector was the first to undergo reforms. Implementation of the reforms followed recommendations of the Presidential Commission on the need to modernize the banking sector dubbed the Nyirabu Commission. The BOT Act of 1995 was a landmark in Tanzania’s monetary history by adopting a single policy objective, i.e. price stability and moving away from multiple-policy objectives. …


Odd Couple: International Trade And Labor Standards In History. By Michael Huberman. New Haven, Ct: Yale University Press, 2012. Pp. Xii, 237. $65.00, Cloth., Joshua L. Rosenbloom Dec 2012

Odd Couple: International Trade And Labor Standards In History. By Michael Huberman. New Haven, Ct: Yale University Press, 2012. Pp. Xii, 237. $65.00, Cloth., Joshua L. Rosenbloom

Joshua L. Rosenbloom

The years between 1870 and 1914 constituted a first episode of globalization, characterized by rising levels of international trade and robust economic growth. They were also, at least in Europe, the time when important elements of the welfare state—insurance against the risks of unemployment, sickness, industrial accidents, and old age—as well as labor protections—such as factory inspection and limits on the hours of work of women and children—were first introduced.


Credit And Debt In Economic Theory: Which Way Forward?, Thorvald Grung Moe Nov 2012

Credit And Debt In Economic Theory: Which Way Forward?, Thorvald Grung Moe

Thorvald Grung Moe

Background paper for INET workshop on Debt and finance in economics in Waterloo, Toronto nov. 2012


Toward A Knowledge Economy In Saudi Arabia, Giulio M. Gallarotti, Essam Elfalily, Osama Tayyeb Aug 2012

Toward A Knowledge Economy In Saudi Arabia, Giulio M. Gallarotti, Essam Elfalily, Osama Tayyeb

Giulio M Gallarotti

Nations that have sought to overcome the resource curse and other barriers to economic growth have for some time sought greater development through a number of strategies: from import substitution in the 1950s to current strategies based on microfinance and human-capabilities approaches. Needless to say, the international community is still searching for the elusive Holy Grail of the optimal development strategy. One strategy that is gaining greater attention and adherents is that of promoting a transition to a knowledge economy. This paper is about one such nation: Saudi Arabia. In analyzing the Kingdom’s quest for a knowledge economy, this article …


The Effect Of Treasury Auction Announcements On Interest Rates: 1990-1999, James J. Forest Jul 2012

The Effect Of Treasury Auction Announcements On Interest Rates: 1990-1999, James J. Forest

James J Forest

In this study we examine the secondary-market response of U.S. Treasury interest rates to both the release of pre-auction auction supply announcements and post-auction details from U.S. Treasury auctions during the period of the 1990s. Rate changes are found to differ significantly on auction days. Pre-auction announcements of auction volumes are shown to affect rates significantly, in contrast with the findings of Wachtel and Young (1987) with respect to deficit announcements. We find that surprises in the release of bid-to-cover ratios affect Treasury rates significantly, while the surprises in the volume of noncompetitive bids appears to have little affect on …


Back To The Future Of Green Powered Economies, Juan B. Moreno-Cruz, M. Scott Taylor Jul 2012

Back To The Future Of Green Powered Economies, Juan B. Moreno-Cruz, M. Scott Taylor

Juan B. Moreno-Cruz

The purpose of this paper is to introduce the concept of power density [Watts/m2] into economics. By introducing an explicit spatial structure into a simple general equilibrium model we are able to show how the power density of available energy resources determines the extent of energy exploitation, the density of urban agglomerations, and the peak level of income per capita. Using a simple Malthusian model to sort population across geographic space we demonstrate how the density of available energy supplies creates density in energy demands by agglomerating economic activity. We label this result the density-creates-density hypothesis and evaluate it using …


Human Capital Formation And Economic Development In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Mahboob Ul Hassan, Muhammad Shahid May 2012

Human Capital Formation And Economic Development In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Mahboob Ul Hassan, Muhammad Shahid

Muhammad Irfan Chani

This study investigates the casual relationship between economic development and formation of human capital in Pakistan. Based on endogenous growth theory, this study empirically tests the standard growth model consisting of gross domestic product (GDP) per capita as a dependent variable and human capital formation, investment in physical capital and labor force as independent variables. Autoregressive distributive lag (ARDL) bound testing approach to cointegration is used to check the long-run equilibrium relationship between the variables included in the model. For checking the causal relationship between economic development and human capital formation, pair-wise Granger causality test is used for time series …


Some Socio Economic Determinants Of Fertility In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Muhammad Shahid, Mahboob Ul Hassan Apr 2012

Some Socio Economic Determinants Of Fertility In Pakistan: An Empirical Analysis, Muhammad Irfan Chani, Muhammad Shahid, Mahboob Ul Hassan

Muhammad Irfan Chani

This study aims to investigate the role that various socioeconomic factors like female education, urbanization and female labour force participation play in determining fertility of women in Pakistan. ARDL bound test approach to cointegration is used to analyze the long-run relationship of the variables by using the data for the period from 1980 to 2009. The empirical results show that there exists a long-run as well as short-run relationship between fertility and urbanization, female labour force participation and female education in Pakistan. The analysis indicates there is a negative relationship between all 3 determinants with fertility. Female education and urbanization …


Challenges Of The Cooperative Movement In Addressing Issues Of Human Security In The Context Of A Neoliberal World: The Case Of Argentina, Stefan Ivanovski Mar 2012

Challenges Of The Cooperative Movement In Addressing Issues Of Human Security In The Context Of A Neoliberal World: The Case Of Argentina, Stefan Ivanovski

Stefan Ivanovski

The response of some Argentine workers to the 2001 crisis of neoliberalism gave rise to a movement of worker-recovered enterprises (empresas recuperadas por sus trabajadores or ERTs). The ERTs have emerged as former employees took over the control of generally fraudulently bankrupt factories and enterprises. The analysis of the ERT movement within the neoliberal global capitalist order will draw from William Robinson’s (2004) neo-Gramscian concept of hegemony. The theoretical framework of neo-Gramscian hegemony will be used in exposing the contradictions of capitalism on the global, national, organizational and individual scales and the effects they have on the ERT movement. The …


History Lessons: Understanding The Decline In Manufacturing, Louis D. Johnston Feb 2012

History Lessons: Understanding The Decline In Manufacturing, Louis D. Johnston

Louis D. Johnston

No abstract provided.


Labor Economics, George R. Boyer, Robert Smith Feb 2012

Labor Economics, George R. Boyer, Robert Smith

George R. Boyer

The authors hypothesize that most labor economists "sooner or later had to incorporate at least the appearance of institutional concerns in their papers to avoid indigestion whenever lunching with colleagues outside the field of economics" They add: "If the new interests of modern labor economics are in fact driven by the imperatives of science, then the institutionalist and the neoclassical approaches may well synthesize".


The Upside Of Government Default, Jeffrey Rogers Hummel Feb 2012

The Upside Of Government Default, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


The Union Wage Effect In Late Nineteenth Century Britain, Timothy J. Hatton, George R. Boyer, Roy E. Bailey Feb 2012

The Union Wage Effect In Late Nineteenth Century Britain, Timothy J. Hatton, George R. Boyer, Roy E. Bailey

George R. Boyer

[Excerpt] This paper offers an historical dimension to the impact of trade unions on earnings by estimating the union wage effect in Britain in 1889-90 using data from the US Commissioner of Labor survey conducted at that time. The determinants of union status are also investigated in terms of a probit estimation using individual characteristics which may be correlated with union membership. The results of this first step are used in the computation of selectivity corrected estimates of the union wage effect. It is found that the effect of union membership on earnings at this time was of the order …


Poor Relief, Informal Assistance, And Short Time During The Lancashire Cotton Famine, George R. Boyer Feb 2012

Poor Relief, Informal Assistance, And Short Time During The Lancashire Cotton Famine, George R. Boyer

George R. Boyer

[Excerpt] This paper presents new evidence concerning the importance of poor relief as a source of income assistance for unemployed operatives during the Lancashire cotton famine. My comparison of weekly data on the number of relief recipients in 23 distressed poor law unions with estimates of weekly cotton consumption for the period November 1861 to December 1862 suggests that the average length of time between becoming unemployed and receiving poor relief was less than 2 months. This result is shown to be consistent with available evidence on working class saving. Given the meager amount of informal assistance available to them, …


The Influence Of London On Labor Markets In Southern England, 1830-1914, George R. Boyer Feb 2012

The Influence Of London On Labor Markets In Southern England, 1830-1914, George R. Boyer

George R. Boyer

[Excerpt] Historians have long acknowledged that London, because of its enormous size and rapidly growing demand for labor, acted as a powerful magnet for migrants from throughout southern England. However, while there is a large literature documenting the flow of migrants to London, there have been surprisingly few attempts to determine the consequences of this migration for southern labor markets. This article attempts to redress the imbalance in the literature by examining the influence of London on agricultural labor markets during the nineteenth century. In particular, the article examines the effect of distance from London on wage rates in southern …


Migration And Labour Market Integration In Late Nineteenth-Century England And Wales, George R. Boyer Feb 2012

Migration And Labour Market Integration In Late Nineteenth-Century England And Wales, George R. Boyer

George R. Boyer

[Excerpt] There is a long and well established tradition of studies analysing the pattern and causes of internal migration and assessing the degree of labour market integration in late nineteenth-century Britain. Some studies document the flows of migrants from one area to another and describe migrant characteristics and the directions of the predominant streams of migration. Others analyse the determinants of gross or net migration flows at the region or county level. The questions implicit in these studies are: How mobile was the labour force? What were the major factors which determined individual decisions to migrate? How are these factors …


The History And Rationale For A Separate Bank Resolution Process, Thomas Fitzpatrick, Moira Kearney-Marks, James Thomson Feb 2012

The History And Rationale For A Separate Bank Resolution Process, Thomas Fitzpatrick, Moira Kearney-Marks, James Thomson

James B Thomson

Everyone recognizes the need to have a credible resolution regime in place for fi nancial companies whose failure could harm the entire financial system, but people disagree about which regime is best. The emergence of the parallel banking system has led policymakers to reconsider the dividing line between fi rms that should be resolved in bankruptcy and firms that should be subject to a special resolution regime. A look at the history of insolvency resolution in this country suggests that a blended approach is worth considering. Activities that have potential systemic impact might be best handled administratively, while all other …


Economics Prof Shares History And Memories Of Polish Solidarity Movement, Lucjan T. Orlowski Dr. Feb 2012

Economics Prof Shares History And Memories Of Polish Solidarity Movement, Lucjan T. Orlowski Dr.

Lucjan T. Orlowski

Orlowski, who is a former Solidarity member, shared with those gathered how the Solidarność went from being a labor movement to a leading political party that helped transform Poland from communism to a democracy.


A Colossal Muddle: Understanding Our Current Economic Woes, Louis D. Johnston Jan 2012

A Colossal Muddle: Understanding Our Current Economic Woes, Louis D. Johnston

Louis D. Johnston

I provide an overview of the current economic situation and show that the current recession is fundamentally different from other post-World War II downturns.


The Myth Behind Lowering Capital-Gains Taxes, Louis Johnston Jan 2012

The Myth Behind Lowering Capital-Gains Taxes, Louis Johnston

Louis D. Johnston

Capital gains taxation has been in the news. Contrary to popular belief, lower capital gains taxes do not spur economic growth.


Midday (Last Eichten Broadcast), Louis Johnston Jan 2012

Midday (Last Eichten Broadcast), Louis Johnston

Louis D. Johnston

Chris Farrell and I discussed the economic situation with Gary Eichten. This was Gary's next-to-last show; we were the warm-up act for Governor Dayton.


[Review Of The Book British Labour History, 1815-1914], George R. Boyer Jan 2012

[Review Of The Book British Labour History, 1815-1914], George R. Boyer

George R. Boyer

[Excerpt] One of the most important issues in economic history is the effect of industrialization on workers' living standards and on the development of labor movements and class consciousness. Because Great Britain was the first nation to industrialize, the British workers have been a favorite topic among economic and social historians. Until now, however, there have been no textbooks covering all aspects of British labor history. E. H. Hunt has admirably filled this gap. His book deals with practically every topic of interest concerning British workers from the end of the Napoleonic Wars to the beginning of World War I.


[Review Of The Book The Idea Of Poverty: England In The Early Industrial Age], George R. Boyer Jan 2012

[Review Of The Book The Idea Of Poverty: England In The Early Industrial Age], George R. Boyer

George R. Boyer

[Excerpt] One must have some knowledge of a society's conception of poverty in order to understand the existence of differing methods of poor relief over time and place. In The Idea of Poverty, Gertrude Himmelfarb presents a detailed account of England's poverty problem during the years 1750 to 1850 as seen by contemporary English economists, politicians, journalists, and novelists. She attempts to determine why the image of poverty, and of the poor, changed over those years and how the popular image of the poor influenced society's methods of relieving poverty. The result is a book that anyone concerned with the …


[Review Of The Book Interwar Unemployment In International Perspective], George R. Boyer Jan 2012

[Review Of The Book Interwar Unemployment In International Perspective], George R. Boyer

George R. Boyer

[Excerpt] The book redresses two imbalances in the recent literature on interwar unemployment: its almost exclusive focus on the United States and Britain, and its predominantly macroeconomic nature. To achieve these goals, the editors encouraged the authors of the country studies to address a set of microeconomic issues, including the extent to which the incidence and duration of unemployment varied across economic and demographic groups, and the effect of unemployment on labor force participation and poverty. Two macroeconomic issues also are addressed in several of the papers: the effects of real wages and of unemployment insurance on unemployment. These two …


Editor's Introduction (Review Symposium On Converging Divergences: Worldwide Changes In Employment Systems), George R. Boyer Jan 2012

Editor's Introduction (Review Symposium On Converging Divergences: Worldwide Changes In Employment Systems), George R. Boyer

George R. Boyer

[Excerpt] During the past two decades there have been significant changes in employment systems across industrialized countries. Converging Divergences: Worldwide Changes in Employment Systems, by Harry C. Katz and Owen Darbishire, examines changes since 1980 in employment practices in seven industrialized countries—the United States, the United Kingdom, Australia, Germany, Japan, Sweden, and Italy—with a focus on the automotive and telecommunications industries. Katz and Darbishire find that variations in employment patterns within these countries have been increasing over the past two decades. The increase in variation is not simply a result of a decline in union strength in some sectors of …


Comments On Geraghty, Márquez, And Vizcarra, George R. Boyer Jan 2012

Comments On Geraghty, Márquez, And Vizcarra, George R. Boyer

George R. Boyer

Professor Boyer reviews and comments upon the three dissertations that were finalists for the Alexander Gerschenkron Prize in 2002.


[Review Of The Book Growing Public: Social Spending And Economic Growth Since The Eighteenth Century], George R. Boyer Jan 2012

[Review Of The Book Growing Public: Social Spending And Economic Growth Since The Eighteenth Century], George R. Boyer

George R. Boyer

[Excerpt] Lindert’s discussion of the costs and benefits of the welfare state is only one part, albeit the most eye-catching part, of this wide-ranging work in comparative economic history. Volume 1, written for non-specialists, presents “The Story”; it is tailor-made for upper-level undergraduate courses in economic and social history, public policy, and welfare economics. Volume 2 presents “Further Evidence,” including the regression results that underlie the findings presented in the first volume, and eighty pages of appendices. Graduate students and scholars studying the welfare state will want to read this volume in conjunction with Volume 1. For those who want …


The Economic Role Of The English Poor Law, 1780-1834, George R. Boyer Jan 2012

The Economic Role Of The English Poor Law, 1780-1834, George R. Boyer

George R. Boyer

[Excerpt] Over the 85-year period from 1748/50 to 1832/34, real per capita expenditures on poor relief increased at an average rate of approximately 1 percent per year. There were also important changes in the administration of relief with respect to able-bodied laborers during the period. Policies providing relief outside of workhouses to unemployed and under-employed able-bodied laborers became widespread during the 1770s and 1780s in the grain-producing South and East of England. The so-called Speenhamland system of outdoor relief flourished until 1834, when it was abolished by the Poor Law Amendment Act. The aim of the thesis is to provide …


Luxury In Ancient Rome: Scope, Timing And Enforcement Of Sumptuary Laws, Giuseppe Dari-Mattiacci, Anna Plisecka Jan 2012

Luxury In Ancient Rome: Scope, Timing And Enforcement Of Sumptuary Laws, Giuseppe Dari-Mattiacci, Anna Plisecka

Giuseppe Dari-Mattiacci

Between 182 BC and 18 BC, Roman lawmakers enacted a series of sumptuary laws regulating banquets (including the number of guests and the consumption of specific foods). Enforcement was hardly successful and these regulations had to be reiterated over time. Traditional explanations based on morals, protection of patrimonies and electoral competition do not fully account for the scope, timing and enforcement patterns of such laws. We advance and formalize a novel hypothesis holding that sumptuary legislation originated from the misalignment between political and economic power following the military and economic expansion of Rome in the last two centuries of the …