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Articles 481 - 510 of 2097

Full-Text Articles in Economic History

We All Want To Change The World: How Behavioral Insights Can Help Reduce Carbon Emissions, Thomas C. Gifford Jan 2021

We All Want To Change The World: How Behavioral Insights Can Help Reduce Carbon Emissions, Thomas C. Gifford

Electronic Theses and Dissertations

The world is in the midst of an unprecedented environmental crisis driven primarily by human behavior. As the world has globalized, countries have developed, and standards of living have improved, global pollution has skyrocketed and has resulted in a wide range of environmentally destructive outcomes. All paths to environmentally sustainable development involve a dramatic cut in carbon emissions from current day levels. In this thesis, I explore how the omission of behavioral factors from mainstream neoclassical models has contributed to, and can aid in reducing unsustainably high levels of carbon emissions. Throughout the history of economic thought, classical economists such …

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Ethnicity And Education: College Attendance Patterns Among Early 20th-Century Maine's Immigrant Community, Jacob M. Nash Jan 2021

Ethnicity And Education: College Attendance Patterns Among Early 20th-Century Maine's Immigrant Community, Jacob M. Nash

Honors Theses

I examine the college attendance patterns of second-generation Russian-Jewish immigrants in Maine in the early 20th century relative to other ethnic groups using individual-level Census records. I employ the Abramitzky, Boustan, and Eriksson (ABE) algorithm to track second-generation Jewish, Italian, French Canadian, English Canadian and European immigrants from the 1910 Census to the 1940 Census. My logistic regression analysis indicates that second-generation Jewish immigrants in Maine attended college at significantly higher rates than their peers of similar background in every other ethnic group. While I cannot evaluate them, I also discuss potential explanations for the disparity in college attendance …

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Backfire: How The Rise Of Neoliberalism Facilitated The Rise Of The Far Right, Jacob Fuller Jan 2021

Backfire: How The Rise Of Neoliberalism Facilitated The Rise Of The Far Right, Jacob Fuller

Capstone Showcase

The U.S. far right has become increasingly mainstream in contemporary American politics. In this paper, I analyze the theory that the far right has gained ground due to a backlash from neoliberal policies beginning in the 1980s under Ronald Reagan. Using Process tracing, I operationalize claims made by those arguing that the white working class has moved towards the far right due to their loss of status, as well as the theory that specific wealthy actors have mobilized these groups and altered the movement against neoliberalism to suit their interests. I find that these arguments have merit, and further the …

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Black Maoism, But Make It Fashion: How The Black Panther Party Utilized Mao Zedong’S Marxist Interpretations In Conjunction With Fashion To Redefine Us Militarism, Chiugo Akujuobi Jan 2021

Black Maoism, But Make It Fashion: How The Black Panther Party Utilized Mao Zedong’S Marxist Interpretations In Conjunction With Fashion To Redefine Us Militarism, Chiugo Akujuobi

Scripps Senior Theses

This thesis explores the intersections present between the multifaceted, sociopolitical institutions of Marxism and communism with a highlight on their seedling Maoism; the revolutionary organization that is the Black Panther Party; and the art of fashion and processes that create modes of dress, that emblazon dress with identity, meaning, and purpose. The lenses with which these complex topics will showcase themselves and intersect are through militarism and militarization. These lenses and topics of intersection work in tandem to produce an examination of the Black Panther Party’s subversion and redefinition of the practices of militarism and militarization. Specifically, the main point …

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Do Global Pandemics Matter For Stock Prices? Lessons From The 1918 Spanish Flu, Marco Del Angel, Caroline Fohlin, Marc D. Weidenmier Jan 2021

Do Global Pandemics Matter For Stock Prices? Lessons From The 1918 Spanish Flu, Marco Del Angel, Caroline Fohlin, Marc D. Weidenmier

Business Faculty Articles and Research

We study the impact of the 1918 Spanish Flu on U.S. stock prices. We use the death rate to control for the impact of the global pandemic and war news reported in the New York Times to capture the positive effects of the end of World War I on stock prices. Using a new weekly hand collected NYSE stock price index, we show that there is a -.73 correlation between the aggregate stock market and the death rate. Furthermore, vector autoregressions demonstrate that the death rate can explain up to 24 percent of the forecast error variance in the aggregate …

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The Effects Of Racial Capitalism On Poor White Laborers, Amy Whittaker Jan 2021

The Effects Of Racial Capitalism On Poor White Laborers, Amy Whittaker

Liberal Studies (MA) Final Essays

While always remembering that racial capitalism’s very nature ensures that non-white Americans suffer incomparable racial oppression, this paper will endeavor to expose the devastation caused to American society as a whole by explaining the ways in which racial capitalism destroyed poor white labors ability to participate fully in the economic system and strangled its chances of living the American dream. It is my hope that by discussing the missing piece of the poor white laborers’ experience under racial capitalism will unite poor white laborers and poor black laborers to work together to end racial capitalism, policing, and the carceral system. …

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Working Paper No. 45, An Intellectual History Of Josiah Warren, Jaye Balentine Dec 2020

Working Paper No. 45, An Intellectual History Of Josiah Warren, Jaye Balentine

Working Papers in Economics

This inquiry seeks to establish that Josiah Warren (1798-1874) developed a synthesis of anti-capitalist economics and radical individualism which became a unique, yet highly practical strand of anarchism in the United States. This inquiry relies heavily upon Crispin Sartwell’s The Practical Anarchist: Writings of Josiah Warren (2011) for insight into Warren’s contributions. Warren registers as distinct because of his relative isolation from other anarchist thinkers, existing largely as a lone practitioner operating in the western territories of the United States during middle-part of the 19th century. This inquiry considers Warren’s philosophical views as well as his practical program—namely his doctrines …

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Working Paper No. 46, Foundations For Feminist Legal Theory, Taylor Feltham Dec 2020

Working Paper No. 46, Foundations For Feminist Legal Theory, Taylor Feltham

Working Papers in Economics

This inquiry seeks to establish the foundations for Feminist Legal Theory through considering its three important dimensions. These dimensions are: a) a distinct and unique historical background; b) an ongoing legacy of occupational segregation; and c) a persistence of gender inequality. This inquiry relies heavily upon Feminist Legal Theory: A Primer (2016) authored by Nancy Levit, et al. Since the emergence of the area of inquiry known as “critical race feminism,” feminist legal theory has been moving away from the principle of formal equality and towards intersectional equity. Feminist legal theorists like Angela Harris (1990), in her work Race and …

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Working Paper No. 47, The Transformation Of Developmental States: Patterns Of Economic Development In South Korea And Taiwan, Mina Kim Dec 2020

Working Paper No. 47, The Transformation Of Developmental States: Patterns Of Economic Development In South Korea And Taiwan, Mina Kim

Working Papers in Economics

This inquiry considers similar yet contrasting patterns in the economic development of South Korea and Taiwan. Taiwan’s developmental state has tended to exhibit ‘softer’ characteristics than South Korea’s. I identify a tendency for when developmental states face crises and then transition forward to a ‘post-developmental state’. This is traced to the internal 'paradox of success' and external pressure of neoliberal globalization. Though these two countries tend to embrace and rely upon neoliberal policies for economic growth, the speed and degree of systemic change register as different. A 1997 financial crisis appears to have goaded South Korea to move quickly through …

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Working Paper No. 48, Struggle Over China, Joshua Stanfill Dec 2020

Working Paper No. 48, Struggle Over China, Joshua Stanfill

Working Papers in Economics

This inquiry seeks to establish that after Dr. Sun Yat-sen thought through and then laid the foundations for the modern Chinese state, a struggle for power emerged between those identifying as nationalists and communists. Sun’s ideas regarding some of the effects of western imperialism on Asian countries were shared by both the Chinese Communist Party and the Nationalist Party under Chiang Kai-shek. The ideological bases for the struggle between the two parties for China emerged in their beliefs regarding relationships between government and citizens, and the role of the government. Soon after Dr. Sun’s death, a struggle for power over …

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Mum’S The Word: Are Mothers Choosing To Give Up Their Careers Or Being Booted Out Of The Labor Force?, Harini Chakrapani Dec 2020

Mum’S The Word: Are Mothers Choosing To Give Up Their Careers Or Being Booted Out Of The Labor Force?, Harini Chakrapani

Capstones

Since the pandemic began, mothers have been leaving the labor force in droves. Mum’s the Word: Are mothers choosing to give up their careers or being booted out of the labor force examines the reasons that are forcing mothers to quit their jobs, the cost of mothers’ not participating in the labor force and what steps corporations and the government can take to support mothers’ return to the labor force. https://www.hcpani.com/post/mum-s-the-word-are-mothers-choosing-to-give-up-their-careers-or-being-booted-out-of-the-labor-force

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Labor Gone Digital (Digifacket)! Experiences From Creating A Web Archive For Swedish Trade Unions, Jenny Jansson, Katrin Uba, Jaanus Karo Nov 2020

Labor Gone Digital (Digifacket)! Experiences From Creating A Web Archive For Swedish Trade Unions, Jenny Jansson, Katrin Uba, Jaanus Karo

Journal of Contemporary Archival Studies

The Internet has become an increasingly important forum for societal activism, as event mobilization, member organization, and some actions have moved online. These new types of activities, often facilitated by diverse social media platforms such as Facebook, Twitter, and Instagram, form an increasingly important part of contemporary social movements’ and organizations’ communication, work, and expression. This rapid digitalization and the increase of online activities have created a dilemma for social movement archives and researchers: Born-digital material is necessary to understand our contemporary movements, yet the materials generated and available on the Internet are rarely systematically archived. To help find solutions …

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Writing Tips For Economics Research Papers, Plamen Nikolov Nov 2020

Writing Tips For Economics Research Papers, Plamen Nikolov

Economics Faculty Scholarship

No abstract provided.

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History Of Islamic Economic Thought: A Content Analysis, Luqman Hakim Handoko Oct 2020

History Of Islamic Economic Thought: A Content Analysis, Luqman Hakim Handoko

Library Philosophy and Practice (e-journal)

There are many sources of Islamic economic thought left by Muslim Scholars. For decades, contemporary Muslim economists have been trying to explore and examine the contribution of Muslim Scholars. Among the efforts is to produce the book of the history of Islamic economic thought (HIET) either by thematic approach or by a personal approach. The current study aims to explore how often and profoundly the discussion of the economic thought of the Muslim scholars among authors of HIET, especially on a personal approach. Therefore, to extract and analyze the data will use a simple content analysis and descriptive approach. Twenty-two …

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Lessons Learned: Lorie Logan, Mercedes Cardona Oct 2020

Lessons Learned: Lorie Logan, Mercedes Cardona

Journal of Financial Crises

Lorie Logan is executive vice president in the Markets Group of the Federal Reserve Bank of New York, the System Open Market Account (SOMA) manager pro tem for the Federal Open Market Committee (FOMC), and head of Market Operations, Monitoring, and Analysis (MOMA).

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Lessons Learned: Donald Kohn, Maryann Haggerty Oct 2020

Lessons Learned: Donald Kohn, Maryann Haggerty

Journal of Financial Crises

Kohn, an economist, is a 40-year veteran of the Federal Reserve System. He served as a member of the Board of Governors, and was vice chair, from 2002-2010, which included the years of the global financial crisis (GFC).

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The United Kingdom's Credit Guarantee Scheme (U.K. Gfc), Christian M. Mcnamara Oct 2020

The United Kingdom's Credit Guarantee Scheme (U.K. Gfc), Christian M. Mcnamara

Journal of Financial Crises

The September 15, 2008, bankruptcy of Lehman Brothers resulted in a collapse of wholesale funding markets that threatened the ability of UK financial institutions to continue funding themselves. By the end of the month, two leading UK banks—HBOS and Bradford & Bingley—had to be rescued, and there was a real risk that the entire financial system could collapse. Faced with the need to stabilize the system, UK regulators on October 8 introduced a package of measures that included a £250 billion Credit Guarantee Scheme (the Guarantee Scheme) aimed at providing banks with access to needed funding. Under the Guarantee Scheme, …

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Sweden's Guarantee Scheme (Sweden Gfc), Lily S. Engbith, Kevin Kiernan Oct 2020

Sweden's Guarantee Scheme (Sweden Gfc), Lily S. Engbith, Kevin Kiernan

Journal of Financial Crises

Although Sweden was not as directly impacted by the Global Financial Crisis as some other economies, Lehman Brothers’ bankruptcy on September 15, 2008, prompted Swedish authorities to take preemptive measures to protect domestic banks and financial institutions. One such program, announced on October 20, 2008, and implemented on October 29, 2008, was designed to preserve credit extension to businesses and households through what became known as the Swedish Guarantee Scheme. Per the terms of the Scheme, new short- and medium-term debt of maturities ranging from 90 days to five years issued by eligible banks would be guaranteed by the Swedish …

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The Spanish Guarantee Scheme For Credit Institutions (Spain Gfc), Lily Engbith Oct 2020

The Spanish Guarantee Scheme For Credit Institutions (Spain Gfc), Lily Engbith

Journal of Financial Crises

Given Spanish banks’ heavy investment in the housing and construction markets in the lead-up to the global financial crisis (GFC), the collapse of the subprime mortgage market and Lehman Brothers’ bankruptcy on September 15, 2008, impelled the government to implement stabilization measures to calm, recapitalize, and restructure its domestic banking sector. The Spanish Guarantee Scheme for Credit Institutions (the Guarantee Scheme) was one of the first interventions to be enacted, announced by Spain’s Ministry of Economy and Finance on October 13, 2008, by Royal Decree-Law 7/2008 on “Urgent Economic and Financial Measures in relation to the Concerted Action Plan of …

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The Italian Guarantee Scheme (Italy Gfc), Lily Engbith Oct 2020

The Italian Guarantee Scheme (Italy Gfc), Lily Engbith

Journal of Financial Crises

The collapse of Lehman Brothers on September 15, 2008, and its severe impact on global credit markets impelled governments around the world to enact stabilization measures to calm and protect their domestic economies. The Italian Republic, while not directly affected by the US subprime mortgage crisis, preemptively implemented emergency procedures and programs to ensure the stability of their banking system. Announced with the passage of Decree-Law No. 157 on October 13, 2008, and legally enforced under Law 190/2008 of December 4, 2008, the Italian Guarantee Scheme (the Guarantee Scheme) was aimed at protecting institutions whose interbank lending abilities had the …

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The Hungarian Guarantee Scheme (Hungary Gfc), Alec Buchholtz Oct 2020

The Hungarian Guarantee Scheme (Hungary Gfc), Alec Buchholtz

Journal of Financial Crises

In the midst of the global financial crisis, in October 2008, the Magyar Nemzeti Bank (MNB), the Hungarian national bank, noticed a selloff of government securities by foreign banks and a large depreciation in the exchange rate of the Hungarian forint (HUF) in foreign exchange (FX) markets. Hungarian banks experienced liquidity pressures due to margin calls on FX swap contracts, prompting the MNB and Minister of Finance to seek assistance from the International Monetary Fund (IMF), the European Central Bank (ECB) and the World Bank. The IMF and ECB approved Hungary’s requests in late 2008 to create a €20 billion …

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The Guarantee Scheme For Bank Funding In Finland (Finland Gfc), Lily Engbith Oct 2020

The Guarantee Scheme For Bank Funding In Finland (Finland Gfc), Lily Engbith

Journal of Financial Crises

As the global financial crisis raged in October 2008, its severe impact on global credit markets impelled governments to enact stabilization measures to calm and protect their domestic economies. The Republic of Finland, though not directly affected, designed preemptive interventions to mitigate disruption to its financial system. Among them was the Guarantee Scheme for Bank Funding in Finland (the Guarantee Scheme), announced on October 22, 2008, and implemented on February 12, 2009, which aimed to support banks and mortgage institutions with their short- and medium-term financing needs. Under the program, the Finnish State Treasury made up to €50 billion available …

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Austria's Oesterreichische Clearingbank Ag (Oecag) (Austria Gfc), Claire Simon Oct 2020

Austria's Oesterreichische Clearingbank Ag (Oecag) (Austria Gfc), Claire Simon

Journal of Financial Crises

In October 2008, euro-area countries adopted a joint framework to guide national policies combatting the effects of the global financial crisis. In Austria, this led to the enactment of a number of measures and amendments, including the Interbank Market Support Act (Interbankmarktstärkungsgesetz, or IBSG). IBSG called for the establishment of a new clearing bank to facilitate interbank lending. It also permitted the Minister of Finance to guarantee up to €5 billion of short-term securities issued by the clearing bank and to absorb losses of the clearing bank up to €4 billion. The clearing bank, Oesterreichische Clearingbank AG (OeCAG), was owned …

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Austria's Ibsg Guarantee Program (Austria Gfc), Claire Simon Oct 2020

Austria's Ibsg Guarantee Program (Austria Gfc), Claire Simon

Journal of Financial Crises

Following the adoption of a joint framework by euro-area countries in response to the intensifying financial crisis in October 2008, Austria enacted a package of measures including the Interbank Market Support Act (Interbankmarktstärkungsgesetz, "IBSG"). In addition to calling for the establishment of a new clearing bank to facilitate interbank lending, IBSG permitted the Austrian government to guarantee debt securities issued by other eligible institutions. Securities issued by eligible institutions with a maturity of three years or less (five years in exceptional circumstances) were eligible for guarantee. According to IBSG, the amount outstanding for all measures taken under the act could …

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The Australian Government Guarantee Scheme For Large Deposits And Wholesale Funding (Australia Gfc), Ariel Smith Oct 2020

The Australian Government Guarantee Scheme For Large Deposits And Wholesale Funding (Australia Gfc), Ariel Smith

Journal of Financial Crises

The Australian Guarantee Scheme for Large Deposits and Wholesale Funding was developed in 2008 shortly after the failure of Lehman Brothers. It was designed to foster financial-system stability and confidence and to help depository institutions continue to access funding during a period of volatility. In addition to a guarantee for large deposits, the scheme allowed institutions to apply for a government guarantee for newly issued wholesale liabilities with maturities of up to five years; in return, the institutions paid the government a monthly fee based on their credit rating and the value of the debt guaranteed. The entire Guarantee Scheme …

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The Debt Guarantee Program Of The Temporary Liquidity Guarantee Program (U.S. Gfc), Justin Katz Oct 2020

The Debt Guarantee Program Of The Temporary Liquidity Guarantee Program (U.S. Gfc), Justin Katz

Journal of Financial Crises

Following the collapse of Lehman Brothers in September of 2008, banks faced extreme difficulty in issuing new debt and finding affordable sources of funds due to heightened fears over counterparty solvency and liquidity risk. By the end of September, the TED spread had spiked to 464 basis points, and issuance of commercial paper fell 88%. On October 14th, to boost confidence and lower short-term financing costs, the Federal Deposit Insurance Corporation announced the Debt Guarantee Program (DGP) as part of the Temporary Liquidity Guarantee Program (TLGP). Under the DGP, the FDIC guaranteed in full a limited amount of senior unsecured …

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Bank Debt Guarantee Programs, Christian M. Mcnamara, Greg Feldberg, David Tam, Andrew Metrick Oct 2020

Bank Debt Guarantee Programs, Christian M. Mcnamara, Greg Feldberg, David Tam, Andrew Metrick

Journal of Financial Crises

One of the hallmarks of the global financial crisis of 2007-09 was the rapid evaporation of the non-deposit, wholesale funding many financial institutions had become increasingly reliant upon in the years leading up to the crisis. In the aftermath of the Lehman Brothers bankruptcy, governments became increasingly concerned about even fundamentally sound institutions’ ability to access necessary funding. In response, beginning in October 2008, authorities across the globe began introducing guarantee programs enabling institutions to issue debt that would be backed by a guarantee from the government in exchange for a guarantee fee. While the specific details of these programs …

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Denmark's Loan Bills Temporary Credit Facility (Denmark Gfc), Keni Sabath Oct 2020

Denmark's Loan Bills Temporary Credit Facility (Denmark Gfc), Keni Sabath

Journal of Financial Crises

The loan bills temporary credit facility was first implemented in May 2008, before the Global Financial Crisis had truly hit Denmark. It continued to be utilized as part of a broader effort to increase interbank lending after the collapse of Lehman Brothers in September 2008. The objective of the loan bills scheme was to facilitate lending among financial institutions. Each week, loan bills could be pledged as collateral for a seven-day loan from Denmark’s central bank, Danmarks Nationalbank. One banking institution could borrow from another institution by issuing a loan bill, and the institution buying the bill could raise liquidity …

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Denmark's Excess-Capital Temporary Credit Facility (Denmark Gfc), Keni Sabath Oct 2020

Denmark's Excess-Capital Temporary Credit Facility (Denmark Gfc), Keni Sabath

Journal of Financial Crises

During the interbank market freeze following the Lehman Brothers collapse in September 2008, Denmark’s central bank, Danmarks Nationalbank, used a series of unconventional monetary policy instruments to increase market liquidity. One such action included the introduction of the excess-capital temporary credit facility, also known as the solvency scheme. Under this facility, credit lines from Danmarks Nationalbank could be provided to banks and mortgage-credit institutions on the basis of their excess capital adequacy, calculated as the difference between their base capital and their capital need. The purpose of this facility was to ease the tight liquidity situation by providing access to …

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The United Kingdom's Corporate Bond Secondary Market Scheme (U.K. Gfc), Claire Simon Oct 2020

The United Kingdom's Corporate Bond Secondary Market Scheme (U.K. Gfc), Claire Simon

Journal of Financial Crises

In late 2008, at the height of the Global Financial Crisis, increased liquidity premia and risk aversion in the secondary market hindered companies’ ability to issue corporate bonds. In response, in January 2009, Her Majesty’s Treasury authorized the Bank of England to establish a facility to purchase commercial bonds through the Asset Purchase Facility. In March 2009, the Bank of England published details on the Corporate Bond Secondary Market Scheme, in conjunction with its quantitative easing program. Under the scheme, the Bank acted as a market maker of last resort in the secondary bond market, making regular purchases of a …

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