El Financial Times ha dedicado su editorial del 13/10/2013 a la
reivindicación del papel de la Historia Económica en la ciencia
económica y en su enseñanza. Dada la importancia del tema, y del medio
y el modo en el que se publica, os rogamos deis la mayor difusión de
este escrito en vuestras facultades.
Miguel Ángel Bringas y Elena Catalán
(coordinadores de la sección de docencia de la AEHE)
NEP: New Economics Papers
History and Philosophy of Economics
|Edited by:||Erik Thomson|
|University of Manitoba|
Note: Access to full contents may be restricted.
NEP is sponsored by the School of Economics and Finance of Victoria University of Wellington.
To subscribe/unsubscribe follow this link http://lists.repec.org/mailman/options/nep-hpe
In this issue we have:
- Multiple-self models in neuroeconomics. A methodological critique Marco Stimolo
- Justice Sociale: Hayek et Sen Face à Rawls. Une Proximité Méthodologique Inattendue Claude Gamel
- The (non-)robustness of influential cheap talk equilibria Christoph Diehl; Christoph Kuzmics
- Small Steps or Giant Leaps Forward: Theoretical Contributions in Management Studies Cornelissen, J. P.; Durand, Rodolp
- Stationary Markov Perfect Equilibria in Discounted Stochastic Games Wei He; Yeneng Sun
- The status of the U.S. Economy and a perspective on ‘The Modern Monetarism’ (with reference to Sheila Copps, Thomas Jefferson, Paul Volcker and William Shakespeare) Richard W. Fisher
- The Fed’s new regime and the 2013 outlook James Bullard
- The economic outlook and economic policymaking Eric S. Rosengren
- Four questions for current monetary policy James Bullard
- From Bagehot to Bernanke and Draghi: emergency liquidity, macroprudential supervision and the rediscovery of the lender of last resort function Thomas C. Baxter, Jr.
- Multiple-self models in neuroeconomics. A methodological critique
Date: 2012-09 By: Marco Stimolo URL: http://d.repec.org/n?u=RePEc:icr:wpicer:07-2012&r=hpe The idea of multiple-self models in economics is that individual identity is the equilibrium result of the strategic interaction between sub-personal selves. These models fill the gap of standard rational choice theory in explaining inter-temporal inconsistency of choices. This modelling procedure requires an extension of revealed preference theory to the sub-personal level. This extension is grounded in the assumption that sub-personal selves are economic agents to whom analytical tools of microeconomics apply. I claim that this assumption is false and entails the empirical methodology of functional localization that fails to provide robust results. Keywords: Multiple-self, rationality, as if, functional localization, robustness
- Justice Sociale: Hayek et Sen Face à Rawls. Une Proximité Méthodologique Inattendue
Date: 2013-10-21 By: Claude Gamel (Aix-Marseille University (Aix-Marseille School of Economics, CNRS & EHESS.) URL: http://d.repec.org/n?u=RePEc:aim:wpaimx:1352&r=hpe Through their methods for studying social justice, Rawls, Hayek and Sen are each situated on the summit of a triangle, where comparatism” of the latter stands at equal distance from “contractualism” of the first former and from “evolutionism” of the second one (1). Nevertheless, when the position of the philosopher is used as a landmark, both economists seem to develop analyses which are strangely near enough to each other: in spite of quite different conclusions (2), a first convergence appears about their positions which are really opposed to Rawlsian contractualism (3). More basically, Hayek’s and Sen’s thought processes appear to be comparable, because they are both pragmatic (4). The fact that their opposed results might stem from so near methods designs a paradox, which has still to be confirmed by further studies (5). Keywords: social justice, methods, contractualism, evolutionism, comparatism. JEL: A12 B41 D63
- The (non-)robustness of influential cheap talk equilibria
Date: 2013-10 By: Christoph Diehl
Christoph Kuzmics (Center for Mathematical Economics, Bielefeld University)
URL: http://d.repec.org/n?u=RePEc:bie:wpaper:489&r=hpe Chakraborty and Harbaugh (2010) prove the existence of influential cheap talk equilibria in one sender one receiver games when the state is multidimensional and the preferences of the sender are state-independent. We show that only the babbling equilibrium survives the introduction of any small degree of uncertainty about the sender’s preferences in the spirit of Harsanyi (1973). None of the influential equilibria are robust to this kind of uncertainty.
- Small Steps or Giant Leaps Forward: Theoretical Contributions in Management Studies
Date: 2013-08-26 By: Cornelissen, J. P.
URL: http://d.repec.org/n?u=RePEc:ebg:heccah:0998&r=hpe How do we, as management researchers, develop novel theoretical contributions, and potentially break new ground, in management studies? To address this question, we review previous methodological work on theorizing and advance a typology of the reasoning processes that underlie theoretical contributions and significant advances in management studies. This typology consist of various types of analogical and counterfactual reasoning that range from focused thought experiments aimed at prodding existing theory in the direction of alternative assumptions, constructs and hypotheses to more expansive efforts around inducing new theoretical models and alternative explanations. With this typology we detail the mechanisms behind the formation of novel theoretical contributions and we illustrate the currency of our typology with a review of twenty-four major theoretical breakthroughs in management studies. We conclude the paper with a discussion of the implications of this typology for our collective efforts in building, elaborating and expanding theory in management studies. Keywords: research methods; management studies; review JEL: M00
- Stationary Markov Perfect Equilibria in Discounted Stochastic Games
Date: 2013-11 By: Wei He
URL: http://d.repec.org/n?u=RePEc:arx:papers:1311.1562&r=hpe The existence of stationary Markov perfect equilibria in stochastic games is shown in several contexts under a general condition called "coarser transition kernels". These results include various earlier existence results on correlated equilibria, noisy stochastic games, stochastic games with mixtures of constant transition kernels as special cases. The minimality of the condition is illustrated. The results here also shed some new light on a recent example on the nonexistence of stationary equilibrium. The proofs are remarkably simple via establishing a new connection between stochastic games and conditional expectations of correspondences.
- The status of the U.S. Economy and a perspective on ‘The Modern Monetarism’ (with reference to Sheila Copps, Thomas Jefferson, Paul Volcker and William Shakespeare)
Date: 2013 By: Richard W. Fisher URL: http://d.repec.org/n?u=RePEc:fip:feddsp:132&r=hpe Remarks before the C.D. Howe Institute Directors’ Dinner, Toronto, June 4, 2013 ; "My staff and I think there is a better-than-even chance that the present GDP growth consensus forecast of 2.4 percent by professional economists may be underestimating the underlying pace of growth."
- The Fed’s new regime and the 2013 outlook
Date: 2013 By: James Bullard URL: http://d.repec.org/n?u=RePEc:fip:fedlps:209&r=hpe January 10, 2013. Presentation. "The Fed’s New Regime and the 2013 Outlook." Wisconsin Economic Forecast Luncheon, Wisconsin Bankers Association. Madison, Wisconsin. Keywords: Federal Reserve System ; Economic forecasting ; Monetary policy
- The economic outlook and economic policymaking
Date: 2013 By: Eric S. Rosengren URL: http://d.repec.org/n?u=RePEc:fip:fedbsp:75&r=hpe Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, to the Lake Champlain Regional Chamber of Commerce, Burlington, Vermont, October 2, 2013. Keywords: Economic conditions ; Monetary policy
- Four questions for current monetary policy
Date: 2013 By: James Bullard URL: http://d.repec.org/n?u=RePEc:fip:fedlps:221&r=hpe September 20, 2013. Presentation. "Four Questions for Current Monetary Policy." New York Association for Business Economics, New York, N.Y. Keywords: Monetary policy
- From Bagehot to Bernanke and Draghi: emergency liquidity, macroprudential supervision and the rediscovery of the lender of last resort function
Date: 2013 By: Thomas C. Baxter, Jr. URL: http://d.repec.org/n?u=RePEc:fip:fednsp:114&r=hpe Remarks at the Committee on International Monetary Law of the International Law Association Meeting, Madrid, Spain. Keywords: Lenders of last resort ; Banks and banking, Central ; Bank liquidity ; Recessions ; European Central Bank ; Federal Reserve System ; Federal Reserve Bank of New York ; Systemic risk ; Public welfare ; Investment banking ; Bank supervision
Zeithistorische Forschungen/Studies in Contemporary History is a peer-reviewed journal, presenting research results, debates and methodological issues of German, European and global contemporary history. It is supported by the Zentrum für Zeithistorische Forschung/Centre for Contemporary History Potsdam () and appears three times a year in two publication formats: printed by Vandenhoeck & Ruprecht () and as full text open access on the internet (). For 2015, we plan a special issue on the research area of ‘marketization’, and we invite authors to submit proposals. This special issue will be edited by Ralf Ahrens (Centre for Contemporary History Potsdam), Marcus Böick (Ruhr University Bochum) and Marcel vom Lehn (Friedrich Schiller University Jena).
At least since the beginning of the international financial crisis in 2008, the general public has been torn between anxiety about the ‘economization’ of work relationships, social security or educational systems, and criticism of an apparently unmanageable, globalized ‘financial-market capitalism’. Diagnoses of today’s world from social and cultural studies frequently declare the ‘neo-liberal’ economic turns of the 1970s and 1980s as the origin of this increased market orientation of social relationships. However, they take only marginal interest in the specific historical constellations, agents, and practices. Contemporary history for its part – experiencing an increased interest in economic and social issues recently – has hardly turned to such developments so far.
Dedicated to the concept of ‘marketization’, which is common in social and economic studies, our special issue intends to collect empirical case studies that analyze discourse and practices in politics, administration, the economy and enterprises, the welfare state and the health care system, educational, cultural, and environmental institutions or the non-profit sector. In the contributions, the term ‘marketization’ has to be scrutinized for its historical significance and its heuristic alternatives; yet, ‘marketization’ as an open, processual term implies more than ‘denationalization’ or ‘privatization’. Markets beyond economic models and theories are always socially constructed and politically regulated; they co-exist and compete with other organizational forms of social relationships. Instead of dwelling on the simple dichotomy between ‘market’ and &! lsquo;state’, this wider perspective allows a shift in the focus towards a heterogeneous, relational arrangement of agents, ideas, and practices. The outline, propagation and implementation of market-oriented control mechanisms, just like the criticism thereof, emanated from specific historical circumstances and interests. Although the special issue’s temporal focus is put on the 1970s until the 2000s, the discourse should also include a discussion of the epochal threshold ‘after the boom’ in comparison to alternative periodizations. In particular, we encourage comparative or transnational studies – also on the transformation regimes of Eastern and eastern Central Europe as well as on non-European developments.
Possible topics for the contributions could be:
• What market-related patterns of reception and interpretation were propagated or even internalized by what agents or their networks and when (‘the enterprising self’, etc.)?
• What presuppositions and expectations were characteristic for these concepts of interpretation and categorization? What, for example, was understood by ‘the market’ or ‘the markets’ at a particular time?
• Who attempted to facilitate and/or to impede the development of market mechanisms? What methods were applied to those processes?
• Which parts of society were the preferred objects of the market-related discourse and practices?
• What results, conflicts, and contradictions emerged by the practical attempts to implement marketization? Which alternate concepts and tendencies gained importance?
• What regional and national differences and similarities of marketiz! ation trends can be identified?
• What relationship between marketization and democracy/democratization, between economic power and political legitimization can be found?
The special issue will contain four to five longer articles, totaling around 50,000 characters (including blanks and annotations). In addition, several shorter texts of various genres will be included: essays, controversial contributions to the discourse, interpretations of selected sources, and contributions for ‘Reread’, ‘Reheard’, ‘Reseen’. For these sections of Zeithistorische Forschungen/Studies in Contemporary History, please visit the previous contributions at . The guidelines for authors can be found at . We welcome all submissions adequate for the issue’s topic for all sections of the journal.
Please send your informative draft containing around 500 words to Jan-Holger Kirsch (kirsch @ zzf-pdm.de) by January 31, 2014.
All authors will be informed by February 28, 2014. The deadline for the complete manuscripts (including suggestions for pictures etc.) is February 15, 2015. Both German and English texts are accepted. We are looking forward to your exiting ideas for our special issue and will of course try to assist you with any questions you might have.
Dr. Ralf Ahrens
Zentrum für Zeithistorische Forschung
Am Neuen Markt 1
+49 (0)331 74510-137
I would like to draw your attention to the upcoming conference on the early modern global drug trade.
Trading Medicines: The Global Drug Trade in Perspective
10th January 2014, The London School of Economics
This half-day workshop examines the supply and reception of medical drugs during the creation of an early modern global market from the sixteenth through to the eighteenth centuries. It addresses a key question in the history of medicine: how did early modern globalisation impact medicine in Europe?
The workshop explores developments across various European nations, their empires, and global trading networks. Papers will focus on the broad sweep of medical commodities that were exchanged, taking a long view and considering as many different substances as possible, in order to build a big picture of developments across the early modern period.
For more information see
To register email cg315 @ cam.ac.uk
Dr Clare Griffin
Wellcome Trust Research Fellow
Department of History and Philosophy of Science
University of Cambridge
cg315 @ cam.ac.uk
Trading Medicines: The Global Drug Trade in Perspective
London School of Economics
10 January 2014
PROGRAMME & ABSTRACTS
Note: The conference papers will be pre-circulated. Presentations will be brief and the workshop relies on participants engaging in discussion.
12:00 Registration & lunch
13:00 Samir Boumediene (Max Planck Berlin), ‘Europe’s reception of Medicinal Plants from Spanish America (1570-1750)’
14:00 Ben Breen (Texas, Austin), ‘Medicinal drugs in the Portuguese and British empires, c. 1640-1750’
15:30 Jan Veluwenkamp (Groeningen), ‘The Baltic drugs traffic, 1650-1850’
16:30 Clare Griffin (Cambridge), ‘Foreign Medicines between Western Europe and Russia, 1550-1750’
17:30 General Discussion
Trading Medicines: The Global Drug Trade in Perspective
Samir Boumediene, ‘Europe’s reception of Medicinal Plants from Spanish America (1570-1750)’ (Berlin)
The aim of this research is to study how, in the aftermath of the Conquest of America, Europeans have appropriated medicinal plants from Mexican, Caribbean, Andean, or Amazonian origin. 18th century European practitioners frequently used substances such as Peruvian bark, ipecacuanha, gaiacum wood, or chocolate – which reveals the extent of the phenomena, yet masks its complexity. Using an American remedy in Europe indeed implied many processes. Crucial to this research are: the sampling and growing of plants; the transmission of indigenous knowledge and its translation by allogenous; the drug trade across the Atlantic; experiences carried out on remedies; and expeditions conducted in America between the 16th and the 18th centuries. More than a “contribution” of America to Europe, this phenomenon of appropriation must be understood as a modality of colonialism. As natural object, and at the same time as naturalistic and medical knowledge, medicinal plants took on a political stake after the Conquest of America. For instance, while in 1570 they had been the target of one of the first scientific expeditions in history, in the middle of the 18th century they also led the Spanish crown to undertake various monopolistic projects. On the other side of the Atlantic, it was at the heart of conflicts between the “Indian” and the Spaniard, when the latter forbade the former from using abortive or hallucinogenic plants, and when the former refused to transmit his pharmacological knowledge to the latter.
Benjamin Breen, ‘Drugs and Transcultural Exchanges in Eighteenth-Century Amazonia and Angola (University of Texas at Austin)
In the hybrid colonial spaces of Amazonia and Angola, figures such as African slaves, indigenous Americans, and mestiço healers emerged as viable alternatives to European medical practitioners. These groups served as informants regarding controversial yet valuable drugs such as cinchona and ipecacuanha among both Portuguese colonists and metropolitan natural philosophers like the members of London’s Royal Society. Yet indigenous and colonial populations were more than static purveyors of ‘traditional’ knowledge and techniques: they were active consumers, discoverers and popularizers of novel tropical drugs in their own right.
This transcultural drug trade offers distinctive insights into how individuals and local knowledge became integrated into global systems of exchange in the eighteenth century. This paper hones in on the sensory and religious role of drugs in the backlands (sertões) of Amazonia and Angola. It uncovers two case studies from the Portuguese archives: the efforts of Governor Francisco de Sá e Menezes to identify Amazonian species of cinchona (or “Jesuit’s Bark”) by collaborating with Tapuya Indians in 1683, and a cavalry officer’s unusually detailed account of a “miraculous cure” for demon-possession that he encountered in the jungles of the Congo. Both of these cases point to the need to integrate the experience of medicinal drugs with historical narratives about medical consumption, science and empire, and European-indigenous relations. Studying the embodied effects of drugs – the ways that they were subjectively experienced by drug merchants, growers, and consumers – can clarify how medicine interacted with non-European religious practices, epistemologies of nature, and other fine-grained facets of human existence that previous works on the Columbian Exchange have failed to discern.
Jan Willem Veluwenkamp, University of Groningen, The Netherlands), ‘Baltic drugs traffic, 1650-1850’
This paper aims to analyze the development of the size and the structure of the major Baltic ports’ export and import of some important drugs, including rhubarb, senna and sarsaparilla, via the Danish Sound in the two centuries between about 1650 and 1850. For the analysis use will be made of a new and powerful instrument for historical research: Sound Toll Registers online (STRO: http://www.soundtoll.nl), the online database giving direct access to the data of the Sound Toll Registers (STR). The STR, stored by the Danish National Archives, are the records of the toll levied by the king of Denmark on the ship passages through the Sound, the strait between Denmark and Sweden connecting the North and Baltic Seas. They cover about 300 of the 360 years between 1497 and 1857, when the Sound Toll was abolished, and include a practically uninterrupted series from 1574 to 1857. They hold information on about 1.8 million passages. For each individual passage, both westward and eastward, the STR contain the passage date, the name of the shipmaster, his place of residence, his port of departure and – from the mid-1660s – his port of destination, the composition of the cargo and the toll paid. The size and detail of the STR make them virtually impossible to handle so that the study of the Baltic trade has been limited to the general development of main commodities as grain, timber, salt and wine. Now, STRO enables the researcher to study – among many other things – the exchange of all commodities, including individual drugs, in detail.
This paper will use the volume of the drug trade as a measure for the development of the production and consumption of medicines in major Baltic ports as Copenhagen, Stockholm, St-Petersburg, Riga, Königberg and Danzig and their hinterlands, i.e. Denmark, Sweden, Finland, Russia, Poland and Prussia. As medicine consumption is a key aspect of health care the paper’s conclusions may serve as an indication of the long-term development of health care in these parts of Europe and contribute to its understanding. The paper will be especially relevant and revealing as it covers a period stretching from long before the Industrial Revolution to a time when this great change and its societal ramifications were well underway.
Clare Griffin (Cambridge) ‘England-Russia Medical Links and the Early Modern Global Drug Trade.’
My paper deals with the trade in medicinal substances between England and Russia. It has long been known that England was a major provider of Russia’s medical practitioners and medical supplies in the sixteenth, seventeenth and eighteenth centuries. Much research has been done on the medical practitioners who travelled from England to work in the tsar’s medical department, the Apothecary Chancery, but the material and economic aspects of England-Russia medical links have thus far received little attention.
During the early modern period the drug trade, here meaning the exchange of medicinal substances, expanded significantly: many more substances were brought to Europe, notably so-called ‘exotics’ from Asia and the Americas, making this a truly global trade. By exposing European consumers to new medicinal substances, this trade served to reshape European medicine. How this process relates to developments in Russia is unknown.
This paper examines the England-Russia drug trade in the two centuries following the initial establishment of direct trade contacts in 1553, relying on documents from the Apothecary Chancery as well as London trade records. Given the lack of work on this subject, this paper aims to establish some essential but basic points. What was being traded? Did this include Asian and American exotics? Who determined what was to be imported, English merchants or Russian officials? What can we know about how these medicines were used? This paper will thus shed light on a neglected area of Russian-English trade.
Libro de C. Larrinaga: Diputaciones provinciales e infraestructuras en el País Vasco durante el primer tercio d el siglo XXPublicado: 16.11.2013
Hola a todos, os informo de que acabo de publicar el siguiente libro por si pudiera ser de vuestro interés:
LARRINAGA, Carlos: Diputaciones provinciales e infraestructuras en el País Vasco durante el primer tercio del siglo XX (1900-1936). El caso guipuzcoano (puertos, ferrocarriles y carreteras).- Universidad del País Vasco, Bilbao, 2013, 293pp.
Adjunto portada y resumen.
Prof. Dr. Carlos LARRINAGA
Carlos Larrinaga Rodríguez larrinag67 @ hotmail.com
We are writing to see if you are interested in presenting a paper to a conference on Latin American Inequality in the Long Run, at Buenos Aires, December 5-6 2014. The project is supported by IADB, IBRD, ECLAC, and CAF. The idea is to get: economic historians focused on the 150 years from the late-19th century to the present and on the same questions raised by the active new economics literature documenting the recent decline in inequality; economists focused on just how much of a turn around it really is by looking backwards far more than just a couple of decades; both to focus on the demand for and the supply of schooling over the long run; both to focus on the impact of pro-global and anti-global trade regimes; both to talk more about race and regions; and both to talk to each other. We expect a conference volume to result.
The conference is motivated by the downturn in inequality in most of Latin America since the 1990s. Is there any earlier evidence which would have predicted the downturn? Were there earlier episodes of income leveling at any time since independence? Most importantly, the literature has identified sources of the recent downward inequality trend. Do we see any evidence of those sources at work – but offset by other forces – earlier in Latin American experience? These questions suggest the following agenda:
Inequality in the Long Run: What has happened to inequality in Latin America since the late-19th century? Have there been epochs of rising or falling inequality associated with commodity price booms and busts, interwar de-globalization, post-WW2 ISI policies, and the subsequent adoption of the “Washington consensus”?
Class Mobility and Poverty in the Long Run: The percent of the population poor (less than $US4 per day) and middle class (10-50 $US per day) has been documented 1995-2010, with the share poor falling and the share middle class rising. Can this be documented across the 20th century for any parts of Latin America? Has intergenerational mobility increased anywhere in the past?
Sources of the Recent Downturn: Recently, inequality of labor earnings has declined as much and sometimes even more than total income inequality. Have changes in earnings inequality always been a prime mover of total inequality in past inequality episodes? In contrast, when have changing top income shares done all the work driving inequality, and why? What about within versus between inequality? What has happened to urban-rural wage gaps and regional inequality, and what has driven their trends? Female labor participation rates have risen lately. Has that been true of any other episode in the past? The skill premium and returns to education have both fallen lately – contributing to falling inequality, as the supply of schooling has surged ahead of demand. Has that been true of any other episode in the past, or h! as the reverse always been true from independence to the 1990s? If the reverse, how much of that has been due to policies that restricted the availability of education to the masses (until recently), and how much to a pro-skill bias in the evolution in output mix (until recently)? That is, does the modern link between structural heterogeneity, skill-bias, and inequality persist in Latin American history? How far back in time can we document the distribution of schooling, dis-favoring the poor? And what about demography? A glut of young adults can cause inequality and a scarcity can have the opposite effect. What role has the demographic transition played in driving Latin American inequality over the past century or more? What about the role of net immigration, net emigration, and remittances, at least for those countries most affected? What role has political change played in driving policy change in all this? What role has race and ethnicity played in all of this?
These are just some of the questions we hope will be explored at the conference. Paper proposals may, of course, explore other questions, but what we want are answers from the past that may inform debate about the present and the likely future for inequality in Latin America. Ideally, we’d like one or two papers by economists given at the start of the conference that survey the inequality experience over the past two decades and its causes.
Deadlines: One-Page Proposal: December 16, 2013. Conference paper draft: November 7, 2014. Conference: December 5-6, 2014.
We hope to hear from you soon. In your response, please include a one-page paper proposal with relevant references to the literature. If you anticipate working with co-authors, please list their names, their affiliations, and whether they would be attending the conference too. Finally, if you have funding sources to cover transportation, please share that information with us, since it will make our budget stretch farther.
Luis Bértola (Universidad de la Republica)
Jeffrey G. Williamson (Harvard University and the University of Wisconsin)
Bértola, Luis; Cecelia Castelnovo; Javier Rodríguez Weber; and Henry Willebald. 2009.
“Between the Colonial Heritage and the First Globalization Boom: On Income Inequality in the
Southern Cone.” Paper presented to the 15th World Economic History Congress (Utrecht, August).
Birdsall, Nancy; Lustig, Nora; and Darryl McLeod. 2011. “Declining Inequality in Latin America: Some Economics, Some Politics.” Center for Global Development, Working Paper 25 (May).
Coatsworth, John H. 2008. “Inequality, Institutions and Economic Growth in Latin America.”
Journal of Latin American Studies 40 (August): 545-69.
ECLAC. 2012. Structural Change for Equality: An Integrated Approach to Development. Santiago.
ECLAC. 2012. A Time&! nbsp;for Equality: Closing gaps, Opening trails. Santiago.
Engerman, Stanley L. and Kenneth L. Sokoloff. 2012. Economic Development in the Americas since 1500: Endowments and Institutions. New York: Cambridge University Press.
Ferreira, Francisco; Julian Messina; Jamele Rigolini; Luis-Felipe López-Calvo; Maria Ana Lugo; and Renos Vakis. 2013. Economic Mobility and the Rise of the Latin American Middle Class. Washington, D.C.: World Bank.
Goldin, Claudia D. and Lawrence F. Katz. 2008. The Race between Education and Technology. Cambridge, Mass.: Belknap Press.
Levy, Santiago and Norbert Schady. 2013. “Latin America’s Social Policy Challenge: Education, Social Insurance, Redistribution,” Journal of Economic Perspectives 27, 2 (Spring): 193-218,
López-Calva, Louis F. and Nora Lustig. 2010. Declining Inequality in Latin America: A
Decade of Progress? Washington, D.C.: Brookings Institution.
Prados de la Escosura, Leandro. 2007. “Inequality and Poverty in Latin America: A Long-Run Exploration.” In T. J. Hatton, K. H. O’Rourke, and A. M. Taylor (eds.), The New Comparative Economic History, pp. 291-315. Cambridge, Mass.: MIT Press.
Robinson, James A. and Kenneth L. Sokoloff. 2004. “Historical Roots of Latin America Inequality.” In Inequality in Latin America: Breaking with History? Eds. De Ferranti et al., pp. 109-22. Washington, D.C.: World Bank.
Williamson, Jeffrey G. 2010. “Five Centuries of Latin American Inequality.” Journal of Iberian
and Latin American Economic History 28, 2 (September): 227-252.
World Bank. 2004. Inequality in Latin America: Breaking with History? Eds. De Ferranti et al.Washington, D.C.
World Bank. 2012. The Labor Market Story Behind Latin America’s Transformation. Washington, D.C.: (October).
Jeffrey G. Williamson
Laird Bell Professor of Economics, Emeritus, Harvard University
Honorary Fellow, Department of Economics, University of Wisconsin
Jeffrey Williamson jwilliam @ fas.harvard.edu
NEP: New Economics Papers
History and Philosophy of Economics
|Edited by:||Erik Thomson|
|University of Manitoba|
Note: Access to full contents may be restricted.
NEP is sponsored by the School of Economics and Finance of Victoria University of Wellington.
To subscribe/unsubscribe follow this link http://lists.repec.org/mailman/options/nep-hpe
In this issue we have:
- Economics at the Faculty of Law in Oslo – The First Hundred Years Mehlum, Halvor
- Mihail Manoilescu’s international trade theories in retrospect: how and when emerging economies must be protected? Nikolay Nenovsky; Dominique Torre
- "Eugene Meyer and the German Influence on the Origin of U.S. Federal Financial Rescues" James L. Butkiewicz
- Multicoalitional solutions Stéphane Gonzalez; Michel Grabisch
- Comments on monetary policy and ‘Too Big to Fail’ (with a tribute to Irving Kristol) Richard W. Fisher
- Life’s unpredictable arc John C. Williams
- Should full employment be a mandate for central banks? Eric S. Rosengren
- Social Enterprise and Renewable Energy: Issues of Sustainability and Self-Sufficiency Mrs Caroline Morrison; Ms Emer Gallagher; Professor Elaine Ramsey; Mr Derek Bond
- What can civil society expect from academic macroeconomics? Michel DE VROEY
- The U.S. economy and monetary policy James Bullard
- Monetary policy and financial stability Eric S. Rosengren
- Introductory remarks at the Museum of American Finance "The Fed at 100" exhibit William C. Dudley
- Risk of financial runs: implications for financial stability Eric S. Rosengren
- Anatomy of international banking crises at the onset of the Great Recession Stolbov, Mikhail
- Lack of material resources causes harsher moral judgments Marko Pitesa; Stefan Thau
- Economics at the Faculty of Law in Oslo – The First Hundred Years
Date: 2013-11-04 By: Mehlum, Halvor (Dept. of Economics, University of Oslo) URL: http://d.repec.org/n?u=RePEc:hhs:osloec:2013_025&r=hpe In this article I take up the relationship between economics and law in the hundred-year period preceding the establishing of economics as a separate discipline. Rather than providing a review of historical milestones, I concentrate on some observations that illustrate the relationship between law and economics. I conclude with some reflections on what the law may have missed out on by not having participated in a similar revolution as economics experienced. Keywords: history; of; economics JEL: B10 K00
- Mihail Manoilescu’s international trade theories in retrospect: how and when emerging economies must be protected?
Date: 2013-10 By: Nikolay Nenovsky
URL: http://d.repec.org/n?u=RePEc:icr:wpicer:09-2013&r=hpe Mihail Manoilescu was one of the main intellectual personalities of the interwar period in Romania. He was known as a politician and a central banker, but also as an economist. From the very beginning of his theoretical and practical career, or at least from the late 1920s till the end of his life, Manoilescu’s ideas and theories were marked by a clear continuity and consistency based on the theory of protectionism. His defence of protectionism is generally presented as clumsy and founded on incorrect method. This paper contributes to a testament of Manoilescu’s conclusions, the validity of which we test in two different paradigms. Section 2 presents the theory of protectionism formulated by the author. Section 3 tries to interpret Manoilescu’s views in modern terms. It presents arguments assimilating his analysis to some post-Marxist presentations of the after-war period. It also develops a Ricardian model proving that Manoilescu’s intuitions can be verified in a Ricardian context. The last section concludes. Keywords: Mihail Manoilescu, theory of protectionism, gains from trade JEL: B22 B26 E42
- "Eugene Meyer and the German Influence on the Origin of U.S. Federal Financial Rescues"
Date: 2013 By: James L. Butkiewicz (Department of Economics,University of Delaware) URL: http://d.repec.org/n?u=RePEc:dlw:wpaper:13-09.&r=hpe While federal financial rescues have become a common response to crises, federal provision of finance was not one of the original powers of the federal government. One man, Eugene Meyer, is largely responsible for the origin of federal financial rescues, through both the War Finance Corporation and Reconstruction Finance Corporation. Meyer learned laissez-faire economics from William Graham Sumner at Yale. However, German economist Adolph Wagner’s state-socialism philosophy heavily influenced Meyer’s thinking, and Meyer developed an interventionist philosophy. Serving in key government positions, Meyer put his beliefs into practice. These channels of influence and the resulting policies are examined. Keywords: B – History of Thought, N – Economic History JEL: J16 J30 J31 J70 J71
- Multicoalitional solutions
Date: 2013-08 By: Stéphane Gonzalez (CES – Centre d’économie de la Sorbonne – CNRS : UMR8174 – Université Paris I – Panthéon-Sorbonne)
Michel Grabisch (CES – Centre d’économie de la Sorbonne – CNRS : UMR8174 – Université Paris I – Panthéon-Sorbonne, EEP-PSE – Ecole d’Économie de Paris – Paris School of Economics – Ecole d’Économie de Paris)
URL: http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-00881108&r=hpe The paper proposes a new concept of solution for TU games, called multicoalitional solution, which makes sense in the context of production games, that is, where v(S) is the production or income per unit of time. By contrast to classical solutions where elements of the solution are payoff vectors, multicoalitional solutions give in addition an allocation time to each coalition, which permits to realize the payoff vector. We give two instances of such solutions, called the d-multicoalitional core and the c-multicoalitional core, and both arise as the strong Nash equilibrium of two games, where in the first utility per active unit of time is maximized, while in the second it is the utility per total unit of time. We show that the d-core (or aspiration core) of Benett, and the c-core of Guesnerie and Oddou are strongly related to the d-multicoalitional and c-multicoalitional cores, respectively, and that the latter ones can be seen as an implementation of the former ones in a noncooperative framework. Keywords: Cooperative game; core; aspiration core; strong Nash equilibrium
- Comments on monetary policy and ‘Too Big to Fail’ (with a tribute to Irving Kristol)
Date: 2013 By: Richard W. Fisher URL: http://d.repec.org/n?u=RePEc:fip:feddsp:128&r=hpe Remarks before Columbia University’s School of International and Public Affairs, New York, N.Y., February 27, 2013 ; "The bottom line is that rather than achieve the intended theoretical effect, I believe the policy of super-abundant money at costs deviating substantially from normal equilibrium levels may ultimately prove to be counterproductive. Or it may restrain the benefits that theory might suggest."
- Life’s unpredictable arc
Date: 2013 By: John C. Williams URL: http://d.repec.org/n?u=RePEc:fip:fedfsp:119&r=hpe Commencement Address, Economics Department, University of California, Berkeley, Berkeley, California, May 20, 2013
- Should full employment be a mandate for central banks?
Date: 2013 By: Eric S. Rosengren URL: http://d.repec.org/n?u=RePEc:fip:fedbsp:70&r=hpe Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Federal Reserve Bank of Boston’s 57th economic conference, "Fulfilling the Full Employment Mandate – Monetary Policy and the Labor Market", Federal Reserve Bank of Boston, Boston, Massachusetts, April 12, 2013. Keywords: Employment (Economic theory) ; Monetary policy ; Banks and banking, Central
- Social Enterprise and Renewable Energy: Issues of Sustainability and Self-Sufficiency
Date: 2013-11 By: Mrs Caroline Morrison
Ms Emer Gallagher
Professor Elaine Ramsey
Mr Derek Bond
URL: http://d.repec.org/n?u=RePEc:fsr:wpaper:2&r=hpe Objectives Whilst much has been written about the role of the ‘bottom up’ approach to renewable energy, there is still no clear insight into why only some schemes work. The objective of this paper is to illustrate how adopting a social constructivist approach gives more insight into the factors that lead to successful small scale renewable energy adoption. In particular, social enterprises are playing an increasing role in delivering the objectives of Europe 2020 (sustainability and self-sufficiency). This paper discusses these current trends with regards to community renewable energy projects. Prior Work There is a considerable body of literature on community renewable energy projects (Fudge et al., 2011; Walker et al., 2010, 2006; Warren and McFadyen, 2010). At a practical level, the importance of adopting the correct organisational structures has been highlighted (Gubbins, 2010; DETI, 2011). However, in the literature there has been little discussion of this issue. This could be because most of the academic literature is framed within the technological determinist paradigm and has its origins in subjects other than business. Approach The paper presents and discusses the findings of a large number of case studies that explore these issues, undertaken as part of the European Regional Development Fund’s transnational Northern Periphery Programme’s projects in renewable energy. Results and Implications The case studies identified that the main barriers were socio-economic rather than technical. The main finding is that nearly all successful community renewable energy initiatives had formed themselves into social enterprises. This was because they were better placed to address the key barriers identified. Uncovering this finding was possible through the adoption of a social constructivist approach which allowed the socio-economic issues to be carefully considered. The implication is that further work needs to be undertaken by adopting this paradigm. Value The main value of this paper is that it illustrates how adopting a social constructivist paradigm and using management theory helps to explain the complex issues surrounding the ‘bottom up’ approach to sustainability and self-sufficiency. In particular, the approach provides an ideal way of studying the functioning of social enterprises. Keywords: social enterprise, renewable energy, innovation, social constructivism
- What can civil society expect from academic macroeconomics?
Date: 2013-05-31 By: Michel DE VROEY (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES)) URL: http://d.repec.org/n?u=RePEc:ctl:louvir:2013022&r=hpe Academic macroeconomics as it has been practiced for the last three decades has a bad reputation, especially after the onset of the 2008 recession. The aim of this paper is to reflect on this state of affairs. To begin, I draw a comparison between Keynesian and Lucasian macroeconomics, bringing to light that they are based on different tenets. Next, I claim that because of its higher internal consistency, Lucasian macroeconomics is superior to Keynesian. However, I also claim that espousing it bears a heavy price — in particular a limited usefulness for policymaking and an inability to come to grips with economic crises. Keywords: Keynesian macroeconomics, Lucas, Real Business Cycle models JEL: B E E
- The U.S. economy and monetary policy
Date: 2013 By: James Bullard URL: http://d.repec.org/n?u=RePEc:fip:fedlps:217&r=hpe June 10, 2013. Presentation. "The U.S. Economy and Monetary Policy." 19th Conference of Montreal—Entering the Next Economy: New Realities, New Frontiers, Montreal, Canada. Keywords: Monetary policy ; Economic conditions
- Monetary policy and financial stability
Date: 2013 By: Eric S. Rosengren URL: http://d.repec.org/n?u=RePEc:fip:fedbsp:68&r=hpe Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, to the Business and Industry Association of New Hampshire and the New Hampshire Bankers Association, Saint Anselm College, Manchester, New Hampshire, March 27, 2013. Keywords: Monetary policy ; Financial stability
- Introductory remarks at the Museum of American Finance "The Fed at 100" exhibit
Date: 2013 By: William C. Dudley URL: http://d.repec.org/n?u=RePEc:fip:fednsp:116&r=hpe Remarks at the Museum of American Finance, New York City. Keywords: Museums ; Federal Reserve System – History ; Corrigan, E. Gerald ; Federal Reserve Bank of New York ; Federal Open Market Committee ; Financial stability
- Risk of financial runs: implications for financial stability
Date: 2013 By: Eric S. Rosengren URL: http://d.repec.org/n?u=RePEc:fip:fedbsp:71&r=hpe Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at “Building a Financial Structure for a More Stable and Equitable Economy,” the 22nd Annual Hyman P. Minsky Conference on the State of the U.S. and World Economies, The Levy Economics Institute of Bard College and the Ford Foundation, New York, New York, April 17, 2013. Keywords: Financial stability ; Global Financial Crisis, 2008-2009 ; Investment banking
- Anatomy of international banking crises at the onset of the Great Recession
Date: 2013-10-26 By: Stolbov, Mikhail URL: http://d.repec.org/n?u=RePEc:pra:mprapa:51236&r=hpe The paper examines a wide range of potential predictors of 25 international banking crises that broke out in 2007–2011 on the basis of cross–sectional logit models and the BCT (binary classification tree) algorithm, a novel technique in assessing the causes of banking crises. The major determinants of the crises arise from excessive credit depth (measured as private credit to GDP ratio) and illiquidity of the banking sector (credits to deposits ratio). The implementation of explicit deposit insurance schemes is also a pro–crisis factor due to the moral hazard effect they tend to cause. On the contrary, higher values of remittance inflows to GDP decrease the susceptibility to banking crises. These findings are robust under both methodologies. Lower bank concentration, bigger values of cost to income ratios as well as a higher level of economic liberalization make countries more vulnerable to banking crises, as derived from the logit analysis. Keywords: banking crises, Great Recession, logit analysis, binary classification tree JEL: E44 G21
- Lack of material resources causes harsher moral judgments
Date: 2013-10-25 By: Marko Pitesa (MC – Management et Comportement – Grenoble École de Management (GEM))
Stefan Thau (INSEAD – INSEAD)
URL: http://d.repec.org/n?u=RePEc:hal:gemwpa:hal-00877140&r=hpe This research tested the idea that lack of material resources (e.g., low income) causes people to make harsher moral judgments because lack of material resources is associated with a lower ability to cope with the effects of others’ harmful behavior. Consistent with this idea, a large cross-cultural survey (Study 1) found that both chronic (low income) and situational (inflation) lack of material resources were associated with harsher moral judgments. The effect of inflation was stronger for low-income individuals, whom inflation renders relatively more vulnerable. A follow-up experiment (Study 2) caused participants to perceive they lacked material resources by employing different anchors on the scale they used to report their income. The manipulation led to harsher judgments of harmful, but not of non-harmful, transgressions and this effect was explained by a sense of vulnerability. Alternative explanations were excluded. These results demonstrate a functional and contextually situated nature of moral psychology. Keywords: moral judgments, material resources, income, moral transgressions, moral psychology
Call for Papers
Asia-Pacific Economic and Business History Conference
13-15 February 2014, University of Waikato, Hamilton (New Zealand)
Theme: Economic consequences of war and conflict
Papers and proposals for sessions are invited for the APEBH 2014 conference. The main conference theme is ‘Economic consequences of war and conflict’ but the organisers welcome proposals for contributions on other topics in economic, social, and business history, as well as to proposals for sessions on particular themes. Researchers across a broad range of disciplines are warmly welcomed. Early career researchers are encouraged to participate. The conference organisers are particularly interested in attracting papers that examine topics in the context of the Asia-Pacific region and papers that provide an international comparative perspective. Our theme could be approached from a number of perspectives, including those of the cliometrician, the economic historian, the economic theorist, the business historian, the applied economist, as well as the social hi! storian. There is ample scope for new interpretations, new findings, as well as syntheses of existing work. For more details of the conference theme go to: http://apebh2014.wordpress.com/
All abstracts, proposals for sessions, papers for refereeing, and papers for posting on the conference website should be emailed to all three members of the Programme Committee of the conference before 30 November 2013:
Dr Keir Reeves, Monash University, Australia: Keir.Reeves @ monash.edu
Paper abstracts of one page may be submitted at any time up to the closing date of 30 November 2013. A decision on proposals will be made within a month of submission. Session proposals of one page may be submitted up to the same date, outlining the main objectives of the session and potential participants. You are not obliged to submit your full paper for refereeing. Comple! te versions of accepted papers should be sent to us by 4 February 2014 for posting on the conference website.
Some universities require staff attending conferences to have their papers refereed. If this is the case in your institution, please submit the full paper by the 30 November 2013 due date for the double blind refereeing process.
A conference paper prize will be awarded. A selection of papers (subject to the normal reviewing process and standards) may be published in Australian Economic History Review: An Asia-Pacific Journal of Economic, Business and Social History. http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-8446
See you in Waikato!
A/Professor Pierre van der Eng | Research School of Management and Crawford School of Public Policy | ANU College of Business and Economics, Crisp Building 26, and ANU College of Asia and the Pacific, Coombs Building 9 | The Australian National University | Canberra ACT 0200 | Australia | T +61 2 6125 5438 (RSM) or +61 2 6125 6215 (CSPP) | F +61 2 6125 8796 (RSM) or +61 2 6125 3700 (CSPP)| E pierre.vandereng @ anu.edu.au | W http://cbe.anu.edu.au/people/rsm/pierre-van-der-eng/ or http://ideas.repec.org/e/pva107.html | ANU CRICOS provider number is 00120C