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We construct representative firm-level longitudinal data for twenty-seven European countries using financial statements from the Orbis global database, providing a “how-to” guide on the construction. We validate our dataset by comparing its aggregate coverage to official statistics and...
Persistent link: https://www.econbiz.de/10013015543
introduction to the Old World from the Americas, to estimate the impact of potatoes on Old World population and urbanization. Our …
Persistent link: https://www.econbiz.de/10013158021
This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...
Persistent link: https://www.econbiz.de/10012772728
-lasting. Finally we study a cross section of nations in 2005 from the World Gallup Poll and find that the past 45 years of economic …
Persistent link: https://www.econbiz.de/10013237594
(GATT) in promoting economic recovery and growth in Europe in the decade after World War II. The formation of the GATT does … not appear to have stimulated a particularly rapid liberalization of world trade in the decade after 1947. It is therefore …
Persistent link: https://www.econbiz.de/10013252315
Although we cannot conceive of processes of economic growth that do not involve institutional change, in this essay we outline some reasons why one should be cautious about grounding a theory of growth on institutions. We emphasize how very different institutional structures have often been...
Persistent link: https://www.econbiz.de/10013323986
Europe a positive impulse towards the development of representative democracy. It shows that contemporary regimes are shaped …
Persistent link: https://www.econbiz.de/10013022172
much less, in (continental) Europe over the same time period. I review the two most popular explanations for these … differential trends: that relative supply of skills increased faster in Europe, and that European labor market institutions … where labor market institutions creating wage compression in Europe also encourage more investment in technologies …
Persistent link: https://www.econbiz.de/10013246486
Improved information technology and higher volume should drive orders to be concentrated in one market, lowering the costs of transactions. However, the opposite occurred during the bull market of the 1920s when rapid technological change spawned a flood of new issues. This paper employs newly...
Persistent link: https://www.econbiz.de/10013088398
Many observers have argued that credit default swaps contributed significantly to the credit crisis. Of particular concern to these observers are that credit default swaps trade in the largely unregulated over-the-counter market as bilateral contracts involving counterparty risk and that they...
Persistent link: https://www.econbiz.de/10013150831