Using the NLSY data set, this paper formulates and then empirically estimates the production processes for social, motivational and cognitive skills during early childhood development and the long-term effects of these skills on learning and life-time earnings of an individual. Using these...

This paper proposes a new test to distinguish between the two leading theories of discrimination: preference versus information. Discrimination based on preferences occurs when people behave as if they refuse to change their stereotypes about the capabilities of discriminated individuals. Those...

The years following the Second World War were those of the greatest economic growth that Europe had ever seen. If the countries of the Iberian Peninsula, neutral in the conflict and ruled by dictatorial regimes, enjoyed that growth and had participated in the convergence phenomenon, Ireland,...

Following the real appreciation of the US dollar in the first half of the 1980s, travel expenditures in the current account soared. Employing standard regression techniques as well as Markov-switching regime analysis we show that such expenditures did not return to their pre- appreciation levels...

In this essay I propose to explore what we can and cannot learn about the way economies evolve over time. The focus of the essay is on the dynamics of change--political, social, and of course economic; and therefore the key word is time. In section I I outline the process of economic change as I...

Prices of repudiated bonds are insightful but scarcely observed. Based on an original daily database, this paper compares the price evolution from January 6, 1916 to August 31, 1919 of a cross-listed (Paris and London) Tsarist bond repudiated by the Soviets on February 8, 1918. After its...

We examine trend economic developments in New Zealand and in each of Australia’s six states and two territories (i.e. nine regions) in order to inform issues regarding economic policy harmonisation across Australasia. Our focus is on trend developments in GDP, population, GDP per capita and...

Les avocats plaidaient et les comptables comptaient, les seconds, plus près des marchands dont les premiers se tenaient à distance. La révolution industrielle du 19ème n’ayant été possible que par l’instauration d’instruments juridiques nouveaux sont apparus entre le notariat, ange...

Some economists have argued that the process of disintegration of the world economy between the two World Wars led to income divergence between the countries. This is in keeping with the view that economic integration leads to income convergence. The paper shows that the view that the period...

In an earlier essay (North, 1981, Ch. 3) I developed a "Neo-Classical Theory of the State". This essay elaborates, extends and modifies that essay in three directions: 1. it incorporates time into the model; 2. it is explicitly concerned with the perceptions--the belief systems--that determine...