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Creare il credito e arginare i rischi: il sistema finanziario tra nobiltà e miserie del capitalismo italiano
In: Collana di storia dell'economia e del credito 14
Bristol medievale: l'impianto di fondazione e lo sviluppo urbanistico
In: Civitates 13
The effect of internal migration on local labor markets: American cities during the Great Depression
In: NBER working paper series 13276
During the Great Depression, as in the modern era, in-migrants were accused of taking jobs and crowding relief rolls. Unlike today, the targets of protest during the Depression were typically American citizens from other parts of the country, rather than the foreign born. Using aggregate data on internal migration flows matched to individual records from the 1940 Census, we analyze the impact of internal migration on various labor market outcomes. To control for the likely endogeneity bias that would arise if migrants were attracted to areas with high wages or plentiful work opportunities, we instrument for migration flows. The instrument predicts out-migration from local areas using extreme weather events and variations in the generosity of New Deal programs and assigns these flows to destinations based on geographic distance. As in many contemporary studies of immigration, our results indicate that residents of metropolitan areas with high in-migration rates did not experience a drop in hourly earnings. Instead, longer term residents of high in-migration areas experienced three types of economic dislocation. A significant number moved away. Many of those who stayed experienced either a drop in annual weeks of work and/or reductions in access to work relief jobs. During a Depression with extraordinary unemployment and an extensive amount of job sharing, these lost work opportunities were costly to existing residents.
Kleidung und Tracht in der Oberpfalz: Identitätsbildung und Folklorismus einer Region im 19. Jahrhundert
In: Veröffentlichungen zur Volkskunde und Kulturgeschichte 99
Políticas y planes de empleo en el Ecuador: Plan de Acción de Empleo, Empleo Juvenil; Erradicación del Trabajo Infantil
In: Cuadernos de empleo y mercado de trabajo 4
Mapping biophysical factors that influence agricultural production and rural vulnerability
In: Environment and natural resources series 11
In: GEO-spatial data and information
This monograph is part of a series of reports that explain how techniques of spatial analysis can be used to investigate poverty and environment links worldwide. It combines rural population distribution data contained in the global rural population database for the year 2000 with methods and results of the "Global agro-ecological assessment for agriculture in the 21st century", in order to estimate the distribution of the world's rural population by agricultural suitability class, land-use category and type of farming system.--Publisher's description
The global upward trend in the profit share
In: BIS working papers 231
Profits growth has been strong in many developed economies in recent years, and the profit share -- the share of factor income going to capital -- has been high compared with historical experience. This paper shows that, rather than being a recent phenomenon, profit shares have trended upwards since about the mid 1980s in most developed economies for which comparable data are available. There are a number of possible explanations for this, but not all of them are consistent with a global trend over two decades, nor do they fit cross-country differences in the trend in the profit share. The preferred explanation advanced in this paper is that ongoing technological progress has increased the rate of obsolescence of capital goods. This induces a greater rate of churn in both capital and jobs, which puts firms in a stronger bargaining position relative to a labour force that now faces more frequent job losses on average. Firms can therefore reap a larger fraction of the economic surplus created by market frictions, which raises the measured profit share. This effect is stronger where labour market institutions are more rigid, consistent with the cross-country pattern in the trends in the profit share. There is also a positive relationship between the size of the trend in the profit share, and the extent of product market regulation. This suggests a role for competition and innovation in driving down high profit margins. These explanations appear to fit the data better than alternatives raised in the literature
Capital regulation and banks' financial decisions
In: BIS working papers 232
This paper develops a stochastic dynamic model to examine the impact of capital regulation on banks' financial decisions. In equilibrium, lending decisions, capital buffer and the probability of bank failure are endogenously determined. Compared to a flat-rate capital rule, a risk-sensitive capital standard causes the capital requirement to be much higher for small (and riskier) banks and much lower for large (and less risky) banks. Nevertheless, changes in actual capital holdings are less pronounced due to the offsetting effect of capital buffers. Moreover, the non-binding capital constraint in equilibrium implies that banks adopt an active portfolio strategy and hence the counter-cyclical movement of risk-based capital requirements does not necessarily lead to a reinforcement of the credit cycle. In fact, the results from the calibrated model show that the impact on cyclical lending behavior differs substantially across banks. Lastly, the analysis suggests that the adoption of a more risk-sensitive capital regime can be welfare-improving from a regulator's perspective, in that it causes less distortion in loan decisions and achieves a better balance between safety and efficiency
Reforma en el agro pampeano: arrendamiento, propiedad y legislación agraria en la provincia de Buenos Aires, 1940 - 1960
In: Colección Convergencia