Similar Search Results

Real Origins of the Great Depression: Monopolistic Competition, Union Power, and the American Business Cycle in the 1920s

Ebell, Monique; Ritschl, Albrecht - C.E.P.R. Discussion Papers - 2007

Most treatments of the Great Depression have focused on its onset and its aftermath. In contrast, we take a unified view of the interwar period. We look at the slide into and the emergence from the 1920-21 recession and the roaring 1920s boom, as well as the slide into the Great Depression after...

Persistent link: https://www.econbiz.de/10005497733

Why was Stock Market Volatility so High During the Great Depression? Evidence from 10 Countries During the Interwar Period

Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2002

The extreme levels of stock price volatility found during the Great Depression have often been attributed to political uncertainty. This Paper performs an explicit test of the Merton/Schwert hypothesis that doubts about the survival of the capitalist system were partly responsible. It does so by...

Persistent link: https://www.econbiz.de/10005791692

The 1920s and the 1990s in Mutual Reflection

Gordon, Robert J - C.E.P.R. Discussion Papers - 2005

This paper develops a new analysis of the U. S. economy in the 1920s that is illuminated by contrasts with the 1990s, and it also re examines the causes of the Great Depression. In both the 1920s and the 1990s the acceleration of productivity growth linked to the delayed effects of previously...

Persistent link: https://www.econbiz.de/10005792478

Migration, the Quality of the Labour Force and Economic Inequality

Kahanec, Martin; Zimmermann, Klaus F - C.E.P.R. Discussion Papers - 2008

Mobility of workers involves flows of labour, human capital and other production factors and thus contributes to a more efficient allocation of resources. Besides these effects on allocative efficiency, migrant flows affect relative wages and also change the international and national...

Persistent link: https://www.econbiz.de/10005791628

From Bottom to Top: The Entire Distribution of Market Income in Germany, 1992-2001

Bach, Stefan; Corneo, Giacomo; Steiner, Viktor - C.E.P.R. Discussion Papers - 2007

modest increase in overall inequality of market incomes as measured by the Gini coefficient. However, we also document a … income inequality was stronger in East Germany than in West Germany. In both regions, the income concentration process …

Persistent link: https://www.econbiz.de/10005124248

Inequality of Earnings

Snower, Dennis J. - C.E.P.R. Discussion Papers - 1999

This paper surveys major empirical regularities concerning changes in earnings inequality in Europe and the US over the … possible rationale for recent inequality developments. …

Persistent link: https://www.econbiz.de/10005792213

The Role of Rents to Human Capital in Economic Development

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1994

steady states arise because rents to human capital are self perpetuating. Inequality in abilities may be good for growth …

Persistent link: https://www.econbiz.de/10005662008

Heterogenous Life-Cycle Profiles, Income Risk and Consumption Inequality

Primiceri, Giorgio E; van Rens, Thijs - C.E.P.R. Discussion Papers - 2006

Was the increase in income inequality in the US due to permanent shocks or merely to an increase in the variance of …-cycle changes, transitory and permanent shocks and estimate the contribution of each to total inequality. Our model fits the joint … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

Persistent link: https://www.econbiz.de/10005661588

Inequality, Leverage and Crises

Kumhof, Michael; Rancière, Romain - C.E.P.R. Discussion Papers - 2011

The paper studies how high leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2007 both exhibited a large increase in the income share of the rich, a large increase in leverage for the remainder, and an eventual financial...

Persistent link: https://www.econbiz.de/10008784720

Crisis? What Crisis? Currency vs. Banking in the Financial Crisis of 1931

Ritschl, Albrecht; Sarferaz, Samad - C.E.P.R. Discussion Papers - 2009

This paper examines the role of currency and banking in the German financial crisis of 1931 for both Germany and the U.S. We specify a structural dynamic factor model to identify financial and monetary factors separately for each of the two economies. We find that monetary transmission through...

Persistent link: https://www.econbiz.de/10008493469

1
2
3
4
5
6
7
8
9
10
Next
Last