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Financial Development and Sectoral Output Growth in 19th Century Germany
Diekmann, Katharina; Westermann, Frank - CESifo - 2010
's emerging markets. …
Persistent link: https://www.econbiz.de/10008833900
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Taking the Lord's Name in Vain: The Impact of Connected Directors on 19th Century British Banks
Grossman, Richard S.; Imai, Masami - CESifo - 2014
This paper utilizes data on the presence of prominent individuals—that is, those with political (e.g., Members of Parliament) and aristocratic titles (e.g., lords)--on the boards of directors of English and Welsh banks from 1879-1909 to investigate whether the appointment of well-connected...
Persistent link: https://www.econbiz.de/10011099763
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Urbanization and Growth: Why Did the Splendor of the Italian Cities in the Sixteenth Century not Lead to Transition?
Chiarini, Bruno; Marzano, Elisabetta - CESifo - 2014
In this paper we investigate the relation between population, wages and urban population in the Italian economy. During the period examined, 1320-1870, the prevailing conditions were those of a poor, mainly agricultural economy with limited human capital and rudimentary technology. However,...
Persistent link: https://www.econbiz.de/10010948824
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Is the Italian Public Debt Really Unsustainable? An Historical Comparison (1861-2010)
Bartoletto, Silvana; Chiarini, Bruno; Marzano, Elisabetta - CESifo - 2013
The aim of this paper is to analyze the sustainability of public debt in Italy during the last 150 years (1861-2010) by … Bank of Italy and Baffigi, 2011) and an original reconstruction of the revenues of the State. The key economic indicators …. (2011), we test for the sustainability of public debt in Italy, comparing four different historical periods. …
Persistent link: https://www.econbiz.de/10010636598
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Fighting for Talent: Risk-shifting, Corporate Volatility, and Organizational Change
Friebel, Guido; Giannetti, Mariassunta - CESifo - 2002
In the nineties, average firm size decreased, organisations decentralized, and workers preferences shifted from large to small firms. Our model identifies the economic forces behind this trend. Small firms with little capital at risk are subject to risk-shifting. They realize more of their...
Persistent link: https://www.econbiz.de/10005196208
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Let the Market Decide: An Experimental Study of Competition and Fairness
Bartling, Björn; Grieder, Manuel; Zehnder, Christian - CESifo - 2014
Is competition perceived as a fair procedure? We report data from laboratory experiments where a powerful buyer can trade with one of several sellers. Sellers who feel shortchanged can engage in counterproductive behavior to punish the buyer. We find that the same unfavorable terms of trade...
Persistent link: https://www.econbiz.de/10010781540
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Do Markets Erode Social Responsibility?
Bartling, Björn; Weber, Roberto A. - CESifo - 2013
This paper studies the stability of socially responsible behavior in markets. We develop a laboratory product market in …
Persistent link: https://www.econbiz.de/10010718529
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Correlation Neglect in Belief Formation
Enke, Benjamin; Zimmermann, Florian - CESifo - 2013
Many information structures generate correlated rather than mutually independent signals, the news media being a prime example. This paper shows experimentally that in such contexts many people neglect these correlations in the updating process and treat correlated information as independent. In...
Persistent link: https://www.econbiz.de/10010718532
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Politics and IMF Conditionality
Dreher, Axel; Sturm, Jan-Egbert; Vreeland, James Raymond - CESifo - 2013
Bailouts sponsored by the International Monetary Fund (IMF) are famous for their conditionality: in return for continued installments of desperately needed loans, governments must comply with austere policy changes. Many have suggested, however, that politically important countries face rather...
Persistent link: https://www.econbiz.de/10010877803
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The Quantitative Importance of Openness in Development
Cai, Wenbiao; Ravikumar, B.; Riezman, Raymond - CESifo - 2013
This paper deals with a classic development question: how can the process of economic development – transition from stagnation in a traditional technology to industrialization and prosperity with a modern technology – be accelerated? Lewis (1954) and Rostow (1956) argue that the pace of...
Persistent link: https://www.econbiz.de/10010877851