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Pulling Up the Tarnished Anchor : The End of Silver As a Global Unit of Account

Fernholz, Ricardo T. - 2017

We use the demise of silver-based standards in the 19th century to explore price dynamics when a commodity-based money ceases to function as a global unit of account. We develop a general equilibrium model of the global economy with gold and silver money. Calibration of the model shows that...

Persistent link: https://www.econbiz.de/10012955754

The International Monetary Fund : 70 Years of Reinvention

Reinhart, Carmen - 2016

A sketch of the International Monetary Fund's 70-year history reveals an institution that has reinvented itself over time along multiple dimensions. This history is primarily consistent with a “demand driven” theory of institutional change, as the needs of its clients and the type of crisis...

Persistent link: https://www.econbiz.de/10013000216

Overcoming History through International Organizations – Historical Roots of EU Support and Euroscepticism

Gehring, Kai - 2019

There is little causal evidence about deep-rooted sources of support for shifting power from nation-states to international organizations. Focusing on the European Union, this paper develops the hypothesis that citizens appreciate the role of international organizations in constraining member...

Persistent link: https://www.econbiz.de/10012862881

Institutions and Economic Growth in Historical Perspective : Part 2

Ogilvie, Sheilagh - 2014

This is Part 2 of a two-part paper which surveys the historical evidence on the role of institutions in economic growth. The paper provides a critical scrutiny of a number of stylized facts widely accepted in the growth literature. It shows that private-order institutions have not historically...

Persistent link: https://www.econbiz.de/10013051272

Institutions and Economic Growth in Historical Perspective : Part 1

Ogilvie, Sheilagh - 2014

This is Part 1 of a two-part paper which surveys the historical evidence on the role of institutions in economic growth. The paper provides a critical scrutiny of a number of stylized facts widely accepted in the growth literature. It shows that private-order institutions have not historically...

Persistent link: https://www.econbiz.de/10013051273

The Great Divergence : A Network Approach

Lindner, Ines - 2016

knowledge throughout the world explains a period of increasing world inequality after the take-off of the forerunners of the … industrial revolution, followed by decreasing relative inequality. Knowledge diffusion through a Small World network explains the … individual countries in the course of world development …

Persistent link: https://www.econbiz.de/10013001168

Brain Drain in the Age of Mass Migration : Does Relative Inequality Explain Migrant Selectivity?

Stolz, Yvonne; Baten, Joerg - 2021

Brain drain is a core economic policy problem for many developing countries today. Does relative inequality in source and destination countries influence the brain-drain phenomenon? We explore human capital selectivity during the period 1820-1909.We apply age heaping techniques to measure human...

Persistent link: https://www.econbiz.de/10013315938

International Portfolio Flows and Exchange Rate Volatility for Emerging Markets

Caporale, Guglielmo Maria - 2015

This paper investigates the effects of equity and bond portfolio inflows on exchange rate volatility, using monthly bilateral data for the US vis-a-vis eight Asian developing and emerging countries (India, Indonesia, South Korea, Pakistan, Hong Kong, Thailand, the Philippines, and Taiwan) over...

Persistent link: https://www.econbiz.de/10013009868

Global Cycles : Capital Flows, Commodities, and Sovereign Defaults, 1815-2015

Reinhart, Carmen - 2016

Capital flow and commodity cycles have long been connected with economic crises. Sparse historical data, however, has made it difficult to connect their timing. We date turning points in global capital flows and commodity prices across two centuries and provide estimates from alternative data...

Persistent link: https://www.econbiz.de/10012997239

Human Capital and the Feldstein-Horioka Puzzle

Katsimi, Margarita - 2007

In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to this change

Persistent link: https://www.econbiz.de/10012777642

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