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Imperfect Labour Markets, the Stock Market and the Inefficiency of Capitalism

Manning, Alan - C.E.P.R. Discussion Papers - 1989

In a capitalist economy capitalists can sell their stake in a firm on the stock market whereas workers cannot sell their jobs. It is argued that when workers have some bargaining power this asymmetry in property rights leads to inefficiencies. The consequences of this are explored and certain...

Persistent link: https://www.econbiz.de/10005662149

Formation of Social Capital in Central and Eastern Europe: Understanding the Gap Vis-a-Vis Developed Countries

Fidrmuc, Jan; Gërxhani, Klarita - C.E.P.R. Discussion Papers - 2005

. Social capital in Central and Eastern Europe – measured by civic participation and access to social networks – lags behind …

Persistent link: https://www.econbiz.de/10005792441

The Macroeconomics of Labour and Credit Market Imperfections

Wasmer, Etienne; Weil, Philippe - C.E.P.R. Discussion Papers - 2002

Labour market frictions are not the only possible source of high unemployment. Credit market imperfections, driven by microeconomic frictions and influenced by macroeconomic factors, could also be to blame. To develop this idea in a simple and tractable macroeconomic model, we treat credit and...

Persistent link: https://www.econbiz.de/10005792453

The Rise of Europe: Atlantic Trade, Institutional Change and Economic Growth

Acemoglu, Daron; Johnson, Simon; Robinson, James A - C.E.P.R. Discussion Papers - 2003

This Paper documents that the rise of (Western) Europe between 1500 and 1850 is largely accounted for by the growth of …. Atlantic trade and colonialism affected Europe both directly and indirectly by inducing institutional changes. In particular …, thus enabling new merchants in these countries to benefit from Atlantic trade. Therefore, the Rise of Europe was largely …

Persistent link: https://www.econbiz.de/10005067437

The Impact of Military Research and Development Priorities on the Evolution of the Civil Economy in Capitalist States

Buzan, Barry; Sen, Gautam - C.E.P.R. Discussion Papers - 1989

Military priorities influence a significant proportion of the resources that capitalist societies devote to R&D. Some of the commanding heights of civil economies have been powerfully shaped by the opportunities created by specifically military R&D. This paper is an attempt to sketch the...

Persistent link: https://www.econbiz.de/10005281392

Corporate Efficiency in Europe

Hanousek, Jan; Kocenda, Evzen; Shamshur, Anastasiya - C.E.P.R. Discussion Papers - 2015

Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate …

Persistent link: https://www.econbiz.de/10011213309

Income inequality, decentralisation and regional development in Western Europe

Pike, Andy J; Rodriguez-Pose, Andres; Tomaney, John; … - C.E.P.R. Discussion Papers - 2011

Western Europe has an effect on within regional interpersonal inequality. Second, whether this potential relationship is …

Persistent link: https://www.econbiz.de/10009322504

The Causal Effect of Education on Health: What is the Role of Health Behaviors?

Brunello, Giorgio; Fort, Margherita; Schneeweis, Nicole; … - C.E.P.R. Discussion Papers - 2011

We study the contribution of health-related behaviors to the health-education gradient by distinguishing between short-run and long-run mediating effects: while in the former only current or lagged behaviors are taken into account, in the latter we consider the entire history of behaviors. We...

Persistent link: https://www.econbiz.de/10009385763

Austerity and Anarchy: Budget Cuts and Social Unrest in Europe, 1919-2008

Ponticelli, Jacopo; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2011

Does fiscal consolidation lead to social unrest? Using cross-country evidence for the period 1919 to 2008, we examine the extent to which societies become unstable after budget cuts. The results show a clear correlation between fiscal retrenchment and instability. We test if the relationship...

Persistent link: https://www.econbiz.de/10009201119

Europe’s Great Depression: Coordination Failure after the First World War

Wolf, Nikolaus - C.E.P.R. Discussion Papers - 2010

of the great depression in Europe and the delay of recovery as a failure to coordinate economic policies. Europe could …

Persistent link: https://www.econbiz.de/10008466327