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on Business, Economic and Financial History |
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Issue of 2022‒01‒31
twenty-six papers chosen by |
| By: | Daniel E. Sichel |
| Abstract: | This paper focuses on the price of nails since 1695 and the proximate source of changes in those prices. Why nails? They are a basic manufactured product whose form and quality have changed relatively little over the last three centuries, yet the process for producing them has changed dramatically. Accordingly, nails provide a useful prism through which to examine a wide range of economic and technological developments that touch on multiple areas of both micro- and macroeconomics. Several conclusions emerge. First, from the late 1700s to the mid 20th century real nail prices fell by a factor of about 10 relative to overall consumer prices. These declines had important effects on downstream industries, most notably construction. Second, while declining materials prices contribute to reductions in nail prices, the largest proximate source of the decline during this period was multifactor productivity growth in nail manufacturing, highlighting the role of the specialization of labor and re-organization of production processes. Third, the share of nails in GDP dropped back from 0.4 percent of GDP in 1810—comparable to today’s share of household purchases of personal computers—to a de minimis share more recently; accordingly, nails played a bigger role in American life in that earlier period. Finally, real nail prices have increased since the mid 20th century, reflecting in part an upturn in materials prices and a shift toward specialty nails in the wake of import competition, though the introduction of nail guns partly offset these increases for the price of installed nails. |
| JEL: | E01 E30 N11 N12 N61 N62 O14 O33 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29617&r= |
| By: | D. Mark Anderson; Kerwin Kofi Charles; Michael McKelligott; Daniel I. Rees |
| Abstract: | In the mid-19th century, the urban milk supply in the United States was regularly skimmed or diluted with water, reducing its nutritional value. At the urging of public health experts, cities across the country hired milk inspectors, who were tasked with collecting and analyzing milk samples with the goal of preventing adulteration and skimming. Using city-level data for the period 1880-1910, we explore the effects of milk inspections on infant mortality and mortality among children under the age of 5. Event-study estimates are small and statistically insignificant, providing little evidence of post-treatment reductions in either infant or child mortality. |
| JEL: | I18 J1 N31 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29620&r= |
| By: | Lennard, Jason |
| Abstract: | How sticky were wages during the Great Depression? Although classic accounts emphasize the importance of nominal rigidity in amplifying deflationary shocks, the evidence is limited. In this paper, I calculate the degree of nominal wage rigidity in the United Kingdom between the wars using new granular data covering millions of wages. I find that nominal wages were more flexible downwards than in most modern economies, but that the frequency and magnitude of wage cuts were too low to fully offset deflation. |
| Keywords: | Great Depression,Interwar Britain,Nominal Rigidity |
| JEL: | E30 N14 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:eabhps:2101&r= |
| By: | Gomes, Luiz |
| Abstract: | Considered one of the leading economists of the 20th century, Nicholas Kaldor contributed to the development of modern economic thought in several fields, from cobweb models to tax issues. Kaldor is recognized worldwide for his work on economic development, the theory of distribution and economic growth. Nicholas Kaldor's concerns were directed at practical problems in economic policy. This work aimed to briefly investigate the contributions of Nicholas Kaldor to economic science. In this paper, we succinctly reviewed Nicholas Kaldor's main works. As Nicholas Kaldor's bibliographic production was quite extensive, some parts had to be highlighted, especially the growth models of theoretical framework I, with full employment, and the economic models of theoretical framework II, without full employment. The article is divided into sections and it has a conclusion. |
| Keywords: | Nicholas Kaldor, Economics, Economic Growth, Theory of Distribution. |
| JEL: | B20 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111352&r= |
| By: | Stuetzer, Michael (Technische Universität Ilmenau); Brodeur, Abel (University of Ottawa); Obschonka, Martin (Queensland University of Technology); Audretsch, David (Indiana University); Rentfrow, Peter J. (University of Cambridge); Potter, Jeff (Atof Inc., Cambridge); Gosling, Samuel D. (University of Texas at Austin) |
| Abstract: | We study the origins of entrepreneurship (culture) in the United States. For the analysis we make use of a quasi-natural experiment – the gold rush in the second part of the 19th century. We argue that the presence of gold attracted individuals with entrepreneurial personality traits. Due to a genetic founder effect and the formation of an entrepreneurship culture, we expect gold rush counties to have higher entrepreneurship rates. The analysis shows that gold rush counties indeed have higher entrepreneurship rates from 1910, when records began, until the present as well as a higher prevalence of entrepreneurial traits in the populace. |
| Keywords: | gold rush, entrepreneurship, culture |
| JEL: | L26 R12 N5 N9 |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp14894&r= |
| By: | Claude Diebolt; Magali Jaoul-Grammare; Faustine Perrin |
| Abstract: | The objective of this article is to study the links between the financing of primary education, schooling and economic growth in France in the nineteenth century. To do so, we use information on the financing allocated by the state, the departments, the municipalities, and households over the period 1820–1913. Our analysis is in two stages. First, we analyse the evolution of these different types of financing over time, relying on the outliers’ methodology to detect the existence of possible breaks in the series. Next, we study the causal relationships between the different types of financing, the number of children enrolled in primary education and the gross domestic product. Over the period studied, our results confirm that mass schooling is first driven by political will, after which it can be funded by increasing wealth in the economy. |
| Keywords: | Primary education; Financing; Nineteenth century; France. |
| JEL: | H52 I24 N33 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2022-02&r= |
| By: | Kohnert, Dirk |
| Abstract: | Africa and India share a long history of trade, investment and slavery. The Portuguese alone brought up to 80,000 slaves from Mozambique to India since the 16th century. Unlike slaves in other parts of the world, African slaves, soldiers, and traders had a strong military and cultural influence on India's culture and society. Some of the slaves even held privileged positions. Today India competes with other global players, especially China, for African resources and markets. Growing racism and Afrophobia towards African migrants, however, could hamper the ambitions of the New-Delhi government. India's social networks and political leaders are increasingly looking for scapegoats and “strangers” to blame for their failures due to religious, racist and linguistic prejudice. Racism and Afrophobia did not appear first under Modi's administration, but they have become more daunting and contagious. The famous Indian writer and political activist, Arundhati Roy, rated Indian racism towards black people as almost worse than white peoples‟ racism. For example, Africans, who were often summarily disqualified as „Nigerians‟, were generally accused of being drug dealers and even suspected of „cannibalism‟. Yet, Indian authorities at all political levels did not effectively counter this. On the contrary, they not infrequently encouraged these prejudices. Modi, for example, compared breakaway Indian regions to „Somalia‟. |
| Keywords: | India, Africa, international migration, xenophobia, Afrophobia, racism, violence, Afro-Indian relations, informal sector, illegal migration, forced migration, slave-trade, minorities, remittances |
| JEL: | E26 F62 F66 N35 N95 Z13 |
| Date: | 2021–12–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111123&r= |
| By: | Simon Accorsi |
| Abstract: | This article uses tools from the macroeconomic time series literature to study the economic effects of the post-dictatorship Chilean democratic transition. Using autoregressive vectors (VAR) the dynamic effects of the "democratic shock" that occurred in Chile during the years 1988-89 are estimated, providing relevant empirical evidence for the study of the historical relationships between economic growth, inequality and type of political regime. It is found that this democratic improvement resulted in a higher long-term growth rate of GDP per capita (3% above the baseline scenario) and a slight decrease in inequality of 0.3-0.4 Gini points. In line with the related literature, betterments were observed in the variables associated with human and physical capital. The effects were not immediate, which raises the dilemma of the political economy of transitions: in the Chilean case, the democratic shock of 1988-89 took 3 years to have a positive impact on the growth rate of GDP per capita and the total effect peaked after 7 years. |
| URL: | http://d.repec.org/n?u=RePEc:udc:wpaper:wp527&r= |
| By: | Funke, Michael (Institute for Economic and Business History Research) |
| Abstract: | The study highlights the importance of business associations in institutional development in a political economy. Utilizing Streeck & Schmitter’s concept of two logics of collective action, in which interest group action is explained by internal relations (logic of membership) as well as external relations (logic of influence), the paper analyzes the Swedish Advertisers’ Association role in the institutional development of Swedish export advertising during 1955-1972. Using qualitative analysis of associational material to trace institutional development, the paper demonstrates that thanks to the logic of membership, expressed in bottom-up member engagement, the association’s leadership together with members established new institutional resources and services for export advertising during the second half of the 1950s. Among the initiatives were educational efforts, knowledge-exchange forums, national trademarks, and registries with information of foreign ad markets. As the competitiveness of Swedish exports was of national interest, the services attracted external actors, as the government, state agencies and other business associations. Here the logic of influence, conveyed in increasing contacts between the association’s leadership and external representatives, embedded its institutions in a wider network of stakeholders in export promotion. This process was facilitated by the post-war dominance of corporatism, which emphasized cooperation between collective actors. The contributions of the association grew in size and importance until the formation of the Swedish Export Council in 1972, that redrew the institutional landscape of export promotion by forming a more centralized form of cooperation between the government and the export business community. |
| Keywords: | Advertising; business association; business interest organization; corporatism; economic history; export promotion; marketing history; Sweden; post-war; |
| JEL: | M31 M38 N74 |
| Date: | 2022–01–07 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:haechi:2022_001&r= |
| By: | Béatrice Cherrier (CNRS - Centre National de la Recherche Scientifique, CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - X - École polytechnique - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - CNRS - Centre National de la Recherche Scientifique); Aurélien Saidi (EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Forthcoming |
| Keywords: | [No keyword available] |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03318670&r= |
| By: | Andressa Welter, Caroline; Pereira de Souza Paetzhold, Thiago; Amorim Souza Centurião, Daniel; Beatriz Schneider, Mirian |
| Abstract: | This work presented a special emphasis on the heterodox characteristic of the economic policies used between 1985 and 1989, covering all the stabilization plans of the period, whose main objective was control of the inflationary process. In the meantime, the Brazilian economy achieved high rates of inflation and low levels of economic growth, which led the 1980s to be known as the "lost decade" by the economic literature, mainly due to these characteristics. The failure of the heterodox policies in the inflation control had great influence in this process and ended up leaving a very significant legacy of income concentration. |
| Keywords: | hyperinflation, economic plans, economic policy. |
| JEL: | B22 |
| Date: | 2021–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:109229&r= |
| By: | Fergusson, L; Vargas, J. F |
| Abstract: | Colombia is a Latin American outlier in that it has traditionally been a very violent country, yet at the same time remarkably democratic. This chapter explores Colombia’s puzzle from a political economy perspective, shedding light on the broader relationship between democracy and violence. The chapter studies some of the most important democratization reforms since Colombia’s independence 200 years ago. It argues that the reforms often failed to curb violence and sometimes even actively, though perhaps unintendedly, exacerbated violent political strife. Democratic reforms were unable to set the ground for genuine power-sharing. They were often implemented amidst a weak institutional environment that allowed powerful elites, the reforms’ ex-ante political losers, to capture the State and offset the benefits of the reforms for the broader society. We conclude by highlighting the implications of the argument for other countries facing democratic reforms, as well as for Colombia’s current peace-building efforts. |
| Keywords: | Colombia, democracy, democratization, conflict, violence, power-sharing, political institutions |
| Date: | 2022–01–14 |
| URL: | http://d.repec.org/n?u=RePEc:col:000092:019935&r= |
| By: | Loïc Bonneval (CMW - Centre Max Weber - CNRS - Centre National de la Recherche Scientifique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UJM - Université Jean Monnet [Saint-Étienne]); Florence Goffette-Nagot (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - Université de Lyon - CNRS - Centre National de la Recherche Scientifique); Zhejin Zhao (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - ENS Lyon - École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - UCBL - Université Claude Bernard Lyon 1 - Université de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - Université de Lyon - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper reexamines the debated issue of the effects of rent control policy on the rental market. We investigate the impact on rents of three different forms of rent regulation in Lyon over a 78-year period. We use an original historical data set which allows us to track regulation changes, rent paid, and tenant moves for a long-run panel of flats. Using a difference-in-differences method, we estimate the impact of regulation on rents depending on the type of rent control over different economic periods. Our results show that the impact of rent control deepened over time. Starting with an 11% reduction in rents between 1914 and 1929, it reached a decrease by 47% in the regulated rental market in the 1949–1968 period. We do not find any increase in rents in the unregulated segment of the rental market, which could be a result of a reduction in housing investment in the long run. |
| Keywords: | Rent control,Housing policy,Difference-in-differences |
| Date: | 2021–11–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03465125&r= |
| By: | Gomes, Luiz |
| Abstract: | Oskar Lange is generally known about his contribution in the debate on the feasibility of rational economic calculation under socialism. Although he is recognized as the theoretical "winner" of this debate, his contributions to economics extend over a wide range of topics and involve issues such as the economic organization of a society in transition to socialism, the relevance or not of econometrics, the meaning of Say's law and the use of cybernetics for economic planning. There are two points that are fundamental in Lange’s work, namely: (i) the economic viability of the socialist mode of production and (ii) the economics of the transition to socialism. The objective of the present article is to investigate Lange’s contributions in regard of these two points: the economic viability of socialism and the economics of the transition to socialism. |
| Keywords: | Oskar Lange, Socialism, Economic Planning, Law of Value, Market Socialism. |
| JEL: | B24 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111344&r= |
| By: | Amélie Fievet (UP1 - Université Paris 1 Panthéon-Sorbonne) |
| Abstract: | This contribution aims to highlight a neglected aspect of Samuelson's famous 1937 paper "A Note on Measurement of Utility". Although the 1937 paper is usually regarded as the foundation of discounted utility theory, and rightly so, it is primarily concerned with utility measurement and deals only indirectly with decision over timeintertemporal issues appearing as a by-product of the realisation of a unique utility measure. But the treatment of discounted utility in turn influenced Samuelson's understanding of cardinality. Cardinality appears here as the result of a cognitive ability that manifests when agents face a decision experiment over time in which they are compelled to cardinalize their utility functions. The result is the weak plausibility of cardinality in a more general context, such that, contrary to the usual views, we may say that Samuelson's ordinalist approach was already in the making in 1937. |
| Keywords: | Paul Samuelson,discounted utility,measure of utility |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03453458&r= |
| By: | Malakhov, Sergey |
| Abstract: | The paper analyzes the model of the preindustrial family where the hunter and the housewife share the quarry and leisure. The model discovers multiple equilibria in marriage markets, where mating of unlikes results in unequal allocation of leisure time, while mating of likes equalizes leisure time of spouses, but the allocation of homework time stays unfair for both inferior and superior partners. There is a unique equilibrium solution when the hunter fairly supplies both leisure and consumption in exchange for housewife’s attractiveness and home productivity. The proportions of the allocation of time in this ideal family match with the properties of golden ratio. However, golden ratio leaves for spouses only six hours and a half for common leisure. This result corresponds to field studies of natural sleep in African and Latin American preindustrial societies and to the historical analysis of sleeping habits before the industrial revolution in Europe, when people went to sleep after sunset and awakened before sunrise, breaking the sleep at midnight for household activities, praying, and conceiving. The correspondence between the model and results of applied and historical studies provides a basis for the hypothesis, that in preindustrial societies the family was a means of survival, and leisure was limited by the vital need in sleeping time. The need in six hours and a half is also confirmed by actual statistics of sleeping time in France. In general, the model of ideal family challenges modern trends in allocation of time, but its analytics discovers the difference between economic viability and feasibility, when the mating of likes gets an additional time with respect to limits of working hours and raises the total leisure time to current leisure habits of working spouses. |
| Keywords: | golden ratio, ideal family, marriage markets, mating of likes, gravitation |
| JEL: | D11 D13 D82 D83 |
| Date: | 2021–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111166&r= |
| By: | Claver Sanz, Raúl |
| Abstract: | This work explores the degree of intergenerational transmission of education for a sample of more than 15 developing countries for the geographical area that makes up the Latin American region, over a time horizon from 1870 to 2010. The quantification of this transmission has allowed us to observe considerably high intergenerational correlation indices, above 0.6, which shows a very high educational transmission from one generation to the next, greatly limiting the patterns of evolution and development and thus stagnating overall growth. In this sense, it documents how this trend towards a lack of intergenerational educational mobility has been one of the reasons for the stagnation of economic growth and development in this region. |
| Keywords: | Intergenerational Transmission, Education, Latin America |
| JEL: | I24 I25 N30 O15 |
| Date: | 2022–01–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111434&r= |
| By: | Bronislava Volková |
| Abstract: | This paper entertains a series of aspects that influence modern people’s identity in today’s world. It delves into history of oppresion and exile, which continues to be valid in many countries. It touches on the nature of exile and possible return of exiles to their native country, on economic and ideological principles creating group identities, but also on human relationship to animals and the differences that exist between male and female sense of identity. Key Words: identity, aspects of identity, human, humanity, identity crisis |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:vor:issues:2021-40-07&r= |
| By: | Yuan, Song; Xie, Jian |
| Abstract: | What determines the prevalence of family firms? In this project, we investigate the role of historical family culture in the spatial distribution of family firms. Using detailed firm-level data from China, we find that there is a larger share of family firms in regions with a stronger historical family culture, as measured by genealogy density. The results are further confirmed by an instrumental variable approach and the nearest neighbor matching method. Examining the mechanisms, we find that entrepreneurs in regions with a stronger historical family culture: i) tend to have family members engage more in firms; ii) are more likely to raise initial capital from family members; iii) are more willing to pass on the firms to their children. Historical family culture predicts better firm performance due to a lower leverage ratio. |
| Keywords: | Family Culture; Family Firms; Genealogy; Cultural Origins; Firm Performance |
| JEL: | D02 D2 G3 L2 M1 Z1 |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:111315&r= |
| By: | Andrés F. Castro Torres (Max Planck Institute for Demographic Research, Rostock, Germany) |
| JEL: | J1 Z0 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:dem:wpaper:wp-2022-002&r= |
| By: | Patrick Guillaumont (FERDI - Fondation pour les Etudes et Recherches sur le Développement International) |
| Abstract: | A category set up to mobilize special support to poorest countries The category became effective in 1971 after a decision of UNGA and through a first identification of (25) LDCs by the Committee for Development Planning, since 1998 become Committee for Development Policy (CDP). The creation of the category was agreed only after several years of international discussion on the need to officially recognize a group of « least advanced » developing countries as beneficiaries of special measures. Indeed the category was conceived as an exception in the UN international development strategy. |
| Date: | 2021–11–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03470097&r= |
| By: | Anders Aslund |
| Abstract: | Thirty years after the collapse of the Soviet Union, it is rather clear what transition policies have worked. Almost all the post-communist countries have become market economies and have achieved macroeconomic stability. Privatization was economically necessary, and its economic outcomes have been very positive. Alas, politically, these successes have often been unsustainable because of strong popular sentiments against the private ownership of big enterprises. Substantial renationalization has occurred. What went wrong? How could privatization be done better, or be defended? What should be done to defend private enterprise in the future? This paper argues that the nature of privatization is far less important than the establishment of good rule of law so that private property rights can be defended. |
| Keywords: | Eastern Europe, former Soviet Union, post-communist transformation, market economy, privatization |
| JEL: | P20 P26 P30 P31 K00 K42 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:sec:worpap:0016&r= |
| By: | Nicolas Lyon-Caen (IHMC - Institut d'histoire moderne et contemporaine - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - CNRS - Centre National de la Recherche Scientifique) |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03454187&r= |
| By: | Stéphane Bécuwe (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Bertrand Blancheton; Christopher.M Meissner |
| Abstract: | Approcher la qualité par les statistiques du commerce extérieur. Enjeux et difficultés entre 1850 et 1913 Au sein de l'historiographie des XVIIe au XIXe siècle, les références à la qualité en commerce international concernent très souvent le luxe. La doctrine mercantiliste voit dans l'exportation de produits d'exception, sans équivalent à l'étranger, un autre moyen de dégager un excédent commercial synonyme d'enrichissement national. En France au XVIIe siècle, le développement des manufactures royales visaient la promotion de savoir-faire d'exception destinés en partie à rayonner au niveau mondial. Colbert, sensibilisé à l'importance de la qualité pour réussir à l'exportation, instaure des standards de qualité et des procédures pour les faire respecter 1. N. Sougy 2 montre que le négoce de produits de luxe est au coeur du commerce international du XVIe au XIXe siècle. Les marchés du luxe connectent Asie, Amériques, Afrique et Europe. A cette époque, l'origine lointaine des produits forgent un imaginaire d'exotisme et un désir de consommation. Pour l'Angleterre, Berg 3 souligne le rôle du commerce d'articles de luxe dans la révolution industrielle. Des réputations de qualité s'établissent à l'échelle des pays, des régions et des manufactures. Celles des verriers vénitiens qui longtemps associent qualité et innovation, celles des porcelainiers Chinois de Jingdezhen dépositaires de savoir-faire ancestraux, celles des eaux-de-vie de Cognac à la large palette aromatique 4 , celle de l'horlogerie suisse précise et fiable 5 au XIXe siècle, celles des produits allemands-résistants et performants sur la durée-à partir des années 1880 6 . |
| Date: | 2021–03–26 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03467466&r= |
| By: | Andrés Alvarez; Marta Juanita Villaveces |
| Abstract: | ¿Qué podemos aprender de la evolución del sistema de seguridad social y de las instituciones del mercado laboral para los futuros procesos de reforma en Colombia? Contestamos este interrogante desde una perspectiva histórica y de análisis institucional la evolución de las reglas y las instituciones que han definido la protección social y las reglas del juego que definen el mercado laboral colombiano, desde inicios del siglo XX hasta 2019. El análisis es a través de un enfoque institucionalista tomando tres conceptos claves. Primero, la dependencia del sendero que ha marcado la rigidez y las dificultades para implementar cambios verdaderamente estructurales en el sistema y que han llevado al país a insistir muchas veces en perspectivas de ajustes menores y desarticulados, en cambio de adoptar un cambio importante de enfoque. Segundo, una mirada integral a los diferentes componentes del sistema, de manera que nos permite mostrar cómo interactúan algunos elementos que muchas veces se consideran independientes. Tercero, inconsistencia dinámica de las reformas que conduce a permanentes reformas que generan cambios comportamentales en los agentes en algunos casos contrarios a los objetivos de las mismas, obligando a sucesivos ajustes parciales sin una solución integral de los problemas. |
| Keywords: | seguridad social, mercado laboral, salario mínimo, informalidad, pensiones, costos laborales, seguro de desempleo. |
| JEL: | N36 J46 E02 H55 J58 J65 |
| Date: | 2021–12–16 |
| URL: | http://d.repec.org/n?u=RePEc:col:000089:019933&r= |
| By: | John Anders; Craig Wesley Carpenter |
| Abstract: | We investigate the effect of military service on labor market, health and family formation outcomes, leveraging differential changes in enlistment rates brought about by the September 11th attacks (911). Using restricted microdata, we identify hundreds of “high service" counties in which certain birth-county cohorts exhibit large enlistment responses to 911. We find that individuals born into high service counties between 1977 and 1983 (aged 18-24 at the time of the attack), enlisted at nearly twice the rate of earlier birth cohorts (older than 24 at the time of the attack). These high service birth-county cohorts experienced a 10% increase in wages, decreased unemployment and impacts on other labor market measures as well as key household formation measures including marriage and fertility. We also find increases in the hospitalization and mortality rates. Labor market benefits outweigh mortality costs at standard discount rates. |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:cen:wpaper:21-36&r= |