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capital market integration -- and explores key issues surrounding each strand through both institutional/country histories and … formal quantitative analysis. We begin with studies of the Dutch Republic, England, the U.S., France, Germany and Japan that …
Persistent link: https://www.econbiz.de/10012470401
This paper measures the degree of price discrimination across export destinations that is associated with exchange rate changes using U.S., U.K., German and Japanese industry-level data. Given the industries sampled more price discrimination across destinations is observed in the U.K., German...
Persistent link: https://www.econbiz.de/10012474877
Trade theorists have come to understand that their theory is ambiguous on the question: Are trade and factor flows substitutes? While this sounds like an open invitation for empirical research, hardly any serious econometric work has appeared in the literature. This paper uses history to fill...
Persistent link: https://www.econbiz.de/10012472755
belligerents: Britain, France, Italy, Germany, and Austria-Hungary. At the outbreak of the war, these nations suspended …
Persistent link: https://www.econbiz.de/10012469448
We show that the development of the financial sector does not change monotonically over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and only recently have they surpassed their 1913 levels. This pattern is inconsistent with...
Persistent link: https://www.econbiz.de/10012470548
We assess how the African slave trade--which had enduring effects on social cohesion--continues to influence financial systems. After showing that the intensity with which people were enslaved and exported from Africa during the 1400 - 1900 period helps account for overall financial development,...
Persistent link: https://www.econbiz.de/10012453911
We explore the role of government in the nexus of finance and trade starting from the earliest days of organised finance in England and then broadening the analysis to 84 countries from 1960 to 2004. For 18th century England, we find that the government expenditures and international trade did...
Persistent link: https://www.econbiz.de/10012462195
This note lays out the basic Susceptible-Infected-Recovered (SIR) epidemiological model of contagion, with a target audience of economists who want a framework for understanding the effects of social distancing and containment policies on the evolution of contagion and interactions with the...
Persistent link: https://www.econbiz.de/10012482082
fluctuations in rainfall to capture the exogenous variation in trade between Germany, France, the U.K., and the Ottoman Empire …
Persistent link: https://www.econbiz.de/10012462618
higher in France than in the United States, and noticeably lower in the United Kingdom (by roughly 10%) and even lower in … Japan (30%), while TFP levels are very close in France, the United Kingdom and the United States, but much lower (40%) in … to France and Japan, a relative decline that was interrupted by the second world war (WW2); (iii) the remarkable catching …
Persistent link: https://www.econbiz.de/10012463072