AbstractThis paper examines the impact of the oil price boom in the 1970s and the subsequent bust on non‐oil economic activity in oil‐dependent countries. During the boom, manufacturing exports and output increased significantly relative to non‐oil countries. These measures decreased gradually during the bust and subsequent period of low prices, displaying a positive relationship with oil prices. However, exports of agricultural products sharply decreased during the boom. Imports of all types of goods displayed strong pro‐cyclicality with respect to oil prices. The results suggest that increased local demand and investment spillovers from the windfall resulted in increased manufacturing activity.
This paper evaluates the impact of major natural resource discoveries since 1950 on GDP per capita and other economic and social indicators. Using panel fixed-effects estimation ad resource discoveries in countries that were not previously resource-rich, I find a positive effect on GDP per capita following extraction that persists in the long term, in contrast with much of the resource curse literature that uses cross-sectional designs. I also find positive effects on education levels, reductions in infant mortality, and negative effects on democratic institutions. I further test these outcomes with synthetic control analysis, yielding results consistent the fixed-effects model.
AbstractAlthough a key objective of relationship marketing is building strong bonds with customers, there is little empirical research into the antecedents and consequents of relational bonds. Women are increasingly assuming key boundary‐spanning roles in organizations, and understanding the extent to which sex differences affect relationship processes and outcomes is an important management issue. This study develops hypotheses linking relationship quality, relational bonds, facets of relationship management, and biological sex, and tests them in the context of buyer‐supplier relationships. Social bonds and the relationship‐management facets of communication/cooperation and relationship investment were found to be key predictors of relationship quality. Communication/cooperation, relationship investment and relationalism were found to predict social bonds, while relationship investment and relationalism were found to predict functional and structural bonds. Relationship type (male‐male, male‐female, female‐male, and female‐female) was found to have some effect on relationship quality and relational bonds. Post hoc analysis found significant interaction effects between the type of relationship and facets of relationship management.RésuméUn objectif clé du marketing des relations consiste à créer des liens durables avec les clients. Cependant, peu de recherches empiriques examinent les antécédents et les conséquences de tels liens relationnels. Les femmes jouent un rǒle clé de plus en plus grand dans les organisations et, sur le plan du management, il est important de comprendre dans quelle mesure la différence des sexes peut influer sur les processus relationnels et les résultats. La présente étude développe des hypothèses sur les rapports entre qualité de relations, liens relationnels, aspects du management des relations et sexe biologique, et teste ces hypothèses dans le cadre des relations acheteur‐vendeur. Les liens relationnels, les aspects du management des relations de la communication/coopération, et l'investissement dans les relations sont apparus comme des facteurs de prévision clés de la qualité des relations. La communication/coopération, l'investissement dans les relations, et le relationnalisme ont permis de prévoir les liens fonctionnels et structurels. Le type de relation (homme‐homme, homme‐femme et femme‐femme) semble influencer la qualité de la relation et les liens relationnels. Une analyse a posteriori a révélé des effets d'interaction considérables entre le type de relation et les aspects du management des relations.
Feyrer, Mansur, and Sacerdote (2017) estimates the spatial dispersion of the effects of the recent shale-energy boom by unconditionally regressing income and employment on energy production at various levels of geographic aggregation. However, producing counties tend to be located near each other and receive inward spillovers from neighboring production. This inflates the estimated effect of own-county production and spatial aggregation does not address this. We propose an alternative estimation strategy that accounts for these spillovers and identify reduced propagation effects. The proposed estimation strategy can be applied more generally to estimate the dispersion of multiple, simultaneously occurring economic shocks. (JEL E24, E32, J31, Q35, Q43, R11, R23)
AbstractInequality is important, both for its own sake and for its political, social, and economic implications. However, measuring inequality is not straightforward, as it requires decisions to be made on the variable, population, and distributional characteristics of interest. These decisions will naturally influence the conclusions that are drawn so they must be closely linked to an underlying purpose, which is ultimately defined by a social welfare function. This paper outlines important considerations when making each of these decisions, before surveying recent advances in measuring inequality and suggesting avenues for future work.
Gregory Clark argued inA Farewell to Alms thatpreindustrial societies, including England, were Malthusian. Day wages show incomes were trendless: as high in Europe in the medieval era as in 1800, even in England. The opposed view is that England and the Netherlands grew substantially from 1200 to 1800. Early day wages overestimate living standards. Here we show that preindustrial farm employment shares can be estimated from probate occupation reports. These imply only 60 percent employed in farming in England in 1560–1579 and 1653–1660, consistent with the high incomes indicated by wages. Day wages do measure preindustrial living standards.
There is surprisingly little evidence on how terror attacks impact elections. With only a few exceptions, previous studies in this literature have focused on a particular country or attack, limiting their generalizability. Ours is the first comprehensive, multi-country examination of the effects of terror attacks on political opinions and election outcomes. The results provide little evidence that terror attacks are systematically related to Europeans' attitudes towards immigrants and how much trust they have in government. International terror attacks are, however, associated with an increase in the vote share received by nationalistic parties in Europe. These results are relevant to the ongoing debate among academics over the effectiveness of terror attacks.
