This paper develops a two-sector general equilibrium model in which firms in the primary economy have to create workplaces prior to production and product market competition. For this, we introduce the endogenous sunk cost approach with two-stage decisions of firms from IO in the macro-labor...

This paper argues that openness to goods trade in combination with an unequal distribution of political power has been a major determinant of the comparatively slow development of resource- or land-abundant regions like South America and the Caribbean in the nineteenth century. We develop a...

Two trends have marked the politico-economic discussion in many industrialized countries in recent years. On the one hand, international production, workplace decentralization, shareholder orientation and generous manager remuneration have changed the face of firms in the primary economy. On the...

Two trends have marked the politico-economic discussion in many industrialized countries in recent years. On the one hand, international production, workplace decentralization, shareholder orientation and generous manager remuneration have changed the face of firms in the primary economy. On the...

This paper argues that openness to goods trade in combination with an unequal distribution of political power has been a major determinant of the comparatively slow development of resource- or land-abundant regions like South America and the Caribbean in the nineteenth century. We develop a...

During industrialization, Protestants were more literate than Catholics. This paper investigates whether this fact may be led back to the intrinsic motivation of Protestants to read the bible and whether other education motives were involved as well. We employ a historical data set from...

During industrialization, Protestants were more literate than Catholics. This paper investigates whether this fact may be led back to the intrinsic motivation of Protestants to read the bible and whether other education motives were involved as well. We employ a historical data set from...

This paper examines the impact of capital market integration (CMI) on higher education and economic growth. We take into account that participation in higher education is noncompulsory and depends on individual choice. Integration increases (decreases) the incentives to participate in higher...