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Credit Rationing and Crowding-Out During the Industrial Revolution: Evidence from Hoare's Bank, 1702-1862

Temin, Peter; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2004

Crowding-out during the British Industrial Revolution has long been one of the leading explanations for slow growth during the Industrial Revolution, but little empirical evidence exists to support it. We argue that examinations of interest rates are fundamentally misguided, and that the...

Persistent link: https://www.econbiz.de/10005504267

A Stable International Monetary System Emerges: Bretton Woods, Reversed

Rose, Andrew K - C.E.P.R. Discussion Papers - 2006

A stable international monetary system has emerged since the early 1990s. A large number of industrial and a growing number of developing countries now have domestic inflation targets administered by independent and transparent central banks. These countries place few restrictions on capital...

Persistent link: https://www.econbiz.de/10005497858

Money, Macroeconomics, and Economic Policy: Essays in Honor of James Tobin

Brainard, William C.; Nordhaus, William D.; Watts, Harold W. - The MIT Press

and extend Tobin's contributions to macroeconomics, international economics, finance, and economic policy. …

Persistent link: https://www.econbiz.de/10004973237

Accounting and the words to tell it: an historical perspective

Labardin, Pierre; Nikitin, Marc - Université Paris-Dauphine (Paris IX) - 2009

In the French language, the word comptabiliteacute (accounting) first appeared in the middle of the eighteenth century. It was used in the Royal finances and its first meaning was that of accountability. Until the middle of the nineteenth century, or thereabouts, the uses of the word evolved...

Persistent link: https://www.econbiz.de/10011096658

Privatizing Russia

Boycko, Maxim; Shleifer, Andrei; Vishny, Robert W. - The MIT Press

Privatizing Russia offers an inside look at one of the most remarkable reforms in recent history. Having started on the back burner of Russian politics in the fall of 1991, mass privatization was completed on July 1, 1994, with two thirds of the Russian industry privately owned, a rapidly rising...

Persistent link: https://www.econbiz.de/10011097641

A conditional approach to hedge fund risks

Teiletche, Jérôme; Pochon, Florent - Université Paris-Dauphine (Paris IX) - 2006

This article applies a two-step conditional Bayesian approach to hedge fund risk. First, a mixture or-two normal distributions is estimated for a core asset; one distribution being identified as linked to a "quiet" regime and the other to a "hectic" regime. The conditional probabilities of each...

Persistent link: https://www.econbiz.de/10011166530

The Argentina Paradox: Microexplanations and Macropuzzles

Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

The economic history of Argentina presents one of the most dramatic examples of divergence in the modern era. What happened and why? This paper reviews the wide range of competing explanations in the literature and argues that, setting aside deeper social and political determinants, the various...

Persistent link: https://www.econbiz.de/10011083510

Towards a Legal Theory of Finance

Pistor, Katharina - C.E.P.R. Discussion Papers - 2012

This paper develops the building blocks for a legal theory of finance. LTF holds that financial markets are legally … self-destruction of the financial system. This law-finance paradox tends to be resolved by suspending the full force of law … finance is concentrated around ultimate lenders of last resort and why regulating finance’s core has become so elusive. It …

Persistent link: https://www.econbiz.de/10011084310

The Impact of Liquidity Regulation on Bank Intermediation

Bonner, Clemens; Eijffinger, Sylvester C W - C.E.P.R. Discussion Papers - 2012

We analyze the impact of non-compliance with a requirement similar to the Basel III Liquidity Coverage Ratio and its impact on bank intermediation applying Regression Discontinuity Designs. Using a unique dataset on Dutch banks, we show that non-compliance with a liquidity requirement causes...

Persistent link: https://www.econbiz.de/10011084639

The evaluation criteria of the venture capital investment activity: An interactive assessment

Siskos, Jean; Zopounidis, Constantin - Université Paris-Dauphine (Paris IX) - 1987

In this paper the modelling of venture capital decision making is being attempted, using a multicriteria decision support system (the Minora system) based on the interactive use of the Uta ordinal regression model. First, a review of the literature on the evaluation criteria for venture capital...

Persistent link: https://www.econbiz.de/10010764094