Showing 1 - 10 of 248
Spain's financial position during the late 19th and early 20th century has usually been presented as one of persistent …
Persistent link: https://www.econbiz.de/10008458296
We present new data documenting European capital issues in major financial centers from 1919 to 1932. Push factors (conditions in international capital markets) perform better than pull factors (conditions in the borrowing countries) in explaining the surge and reversal in capital flows. In...
Persistent link: https://www.econbiz.de/10011084387
The high level of trade and financial integration reached by Europe both today and under the late 19th century gold … draw a fresh picture of the European gold standard, and use it to derive a number of useful implications. The paper’s basic … finding is that the stability of the European gold standard depended on the stance of the common monetary policy. Under the …
Persistent link: https://www.econbiz.de/10005123899
difference, international trade, remittances, and a heterogeneous workforce. We compare welfare under the observed levels of … flows -- such as Jamaica or El Salvador -- are also better off due to migration, but for a different reason: remittances … about 10% in countries with large incoming remittances. Our results are robust to accounting for imperfect transferability …
Persistent link: https://www.econbiz.de/10011083627
Between 1850 and 2000, Spain’s real income increased by about 40-fold, at an average rate of 2.5 percent. The sources … European Union Spain has experienced a dramatic productivity slowdown. …
Persistent link: https://www.econbiz.de/10005124439
this paper for the particular case of Spain, a fast growing country in the second half of the twentieth century. It is …
Persistent link: https://www.econbiz.de/10011084295
This paper studies the effects of demand and supply shocks in the global crude oil market on several measures of countries’ external balance, including the oil trade balance, the non-oil trade balance, the current account and changes in net foreign assets (NFA) during 1975–2004. We...
Persistent link: https://www.econbiz.de/10005124422
Price volatility, reflecting the ability to absorb exogenous supply- or demand shocks, is an important dimension of market performance. In this paper we present a model to study the factors determining the price volatility of markets of basic foodstuffs in pre industrial societies. This model is...
Persistent link: https://www.econbiz.de/10009246614
This paper examines the emergence and dynamics of border effects over time. We exploit the unique historical setting of the multinational Habsburg Empire prior to the Great War to explore the hypothesis that border effects emerged as a result of persistent trade effects of ethno-linguistic...
Persistent link: https://www.econbiz.de/10005662322
This paper asks whether Germany was ever an economically integrated area. I explore the geography of trade costs in a new data set of about 40,000 observations on regional trade flows within and across the borders of Germany over the period 1885 – 1933. There are three key results. First, the...
Persistent link: https://www.econbiz.de/10005666571