Showing 1 - 10 of 11
This paper studies the association between the current account and real estate valuation across countries, subject to data availability [43 countries, of which 25 are OECD], during 1990 - 2005. We find robust and strong positive association between current account deficits and the appreciation...
Persistent link: https://www.econbiz.de/10010322731
This paper develops an explanation for historical differences in the ways in which territorial disputes between sovereign states have been resolved. The main innovation in the analysis is to allow for three possible equilibria: • an unfortified border; • a fortified but peaceful border; and...
Persistent link: https://www.econbiz.de/10010318945
-collar professionals and blue-collar workers across the entire period, including the Civil War decade, while farmers suffered in the …
Persistent link: https://www.econbiz.de/10005870494
The great surge in munitions production in World War II, which reached its peak in 1943, was produced by a building … boom launched in 1941 and 1942. Resources were drawn rapidly to war production centers by financial incentives and other … end of the war, but they cannot account for the speed and magnitude of the initial response. …
Persistent link: https://www.econbiz.de/10010334300
It is frequently claimed that World War II contributed to the growth of big government in the United States. One theory … is that agencies that were given additional resources or authority during the war were able to retain them after the war …. The public, moreover, it is said, had gotten use to higher taxes during the war, so it was not necessary for the …
Persistent link: https://www.econbiz.de/10010334329
By their extreme nature, repudiations rarely occur. History is therefore crucial to analyze their impact on bond prices. This paper provides an empirical study based on an original database: prices of a Tsarist bond traded in Paris before and after its repudiation by the Soviets. A structural...
Persistent link: https://www.econbiz.de/10010274519
In Classical Athens, being at war was much more common than peace. The military expenditures were correspondingly large … rowers during the final phase of the Peloponnesian war, but not necessarily before. The manpower losses in connection with …
Persistent link: https://www.econbiz.de/10013208858
When natural resource revenues provide an important motive and/or means for armed conflict, the transition from war …
Persistent link: https://www.econbiz.de/10010456992
We investigate the effect of trade integration on interstate military conflict. Our empirical analysis, based on a large panel data set of 243,225 country-pair observations from 1950 to 2000, confirms that an increase in bilateral trade interdependence significantly promotes peace. It also...
Persistent link: https://www.econbiz.de/10010282110
the twentieth century were dominated by the international gold standard. But as a result of World War I, this system was … replaced by the troubled gold exchange standards of the 1920s and 1930s. As a result of World War II the interwar system was … replaced in turn by the Bretton Woods system. And as a result of inflation of the late 1960s, produced in part by America's war …
Persistent link: https://www.econbiz.de/10010282840