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Contract Enforcement, Institutions and Social Capital: the Maghribi Traders Reappraised

Edwards, Jeremy; Ogilvie, Sheilagh - CESifo - 2008

Economists draw important lessons for modern development from the medieval Maghribi traders who, according to Greif, enforced contracts multilaterally through a closed, private-order ‘coalition’. We show that this view is untenable. The Maghribis used formal legal mechanisms and entered...

Persistent link: https://www.econbiz.de/10005766208

Legal Institutions, Innovation and Growth

Anderlini, Luca; Felli, Leonardo; Immordino, Giovanni; … - CESifo - 2011

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex-ante) legal system and a flexible one (law set after observing current technology). The flexible system dominates in terms of welfare, amount of innovation and output growth at...

Persistent link: https://www.econbiz.de/10009150639

What Lessons for Economic Development Can We Draw from the Champagne Fairs?

Edwards, Jeremy; Ogilvie, Sheilagh - CESifo - 2011

The medieval Champagne fairs are widely used to draw lessons about the institutional basis for long-distance impersonal exchange. This paper re-examines the causes of the outstanding success of the Champagne fairs in mediating international trade, the timing and causes of the fairs’ decline,...

Persistent link: https://www.econbiz.de/10009020795

Transparency, Flexibility and Macroeconomic Stabilization

Geraats, Petra - CESifo - 2014

. This paper shows that such economic transparency could give central banks greater flexibility to respond to macroeconomic …

Persistent link: https://www.econbiz.de/10010877697

Reducing overreaction to central banks' disclosures : theory and experiment

Baeriswyl, Romain; Cornand, Camille - HAL - 2012

all participants but with ambiguity (partial transparency). We show that, in theory, both communication strategies are … reducing the degree of transparency. We run a laboratory experiment to test whether theoretical predictions hold in a game … either communication strategy. This paper, however, makes a case for partial transparency rather than partial publicity …

Persistent link: https://www.econbiz.de/10009399195

An analysis of OTC interest rate derivatives transactions: implications for public reporting

Fleming, Michael; Jackson, John; Li, Ada; Sarkar, Asani; … - Federal Reserve Bank of New York - 2012

This paper examines the over-the-counter (OTC) interest rate derivatives (IRD) market in order to inform the design of post-trade price reporting. Our analysis uses a novel transaction-level data set to examine trading activity, the composition of market participants, levels of product...

Persistent link: https://www.econbiz.de/10010551295

Transparency in Meat Production – Consumer Perception at the Point of Sale

Deimel, Mark - European Association of Agricultural Economists - EAAE - 2010

As a result of a large number of food scandals, societal interest in transparency in the food sector has grown … address. Hence, the creation of transparency in the production process has been the focus of the legislation. In this context … foods. This is intended as a response to the general call for more transparency or a "gläserne Produktion ". It has not been …

Persistent link: https://www.econbiz.de/10008693348