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1.
Using a comprehensive new data set on private (noncorporate) banks, we examine the business and business environment of private banking and exchange brokering in the state of Michigan from 1837 to the 1880s. The Michigan experience provides an example of the effect of widespread exchange brokers in an economy. We use econometric models to explain the determinants of the numbers of private banks in the state. We find that private banks were substitutes for locally issued state bank currency and were complements with adjacent states’ bank currency. With the demise of heterogeneous currencies, private banks transitioned their core business from exchange brokering to general banking. In both the antebellum and postbellum eras, private banks tended to exist when and where larger incorporated banks did not. Following the collapse of free banking in Michigan in the antebellum years, this was virtually the entire state. During the 1860s and 1870s, corporate banks used private banks as a root source to build on. 相似文献
2.
This paper derives original series of average years of schooling in the United States 1870–1930, which take into account the
impact of mass migrations on the US educational level. We reconstruct the foreign-born US population by age and by country
of origin, while combining data on the flow of migrants by country and the age pyramids of migrants by country. Then, we use
original data on educational attainment in the nineteenth century presented in Morrisson and Murtin (J Human Cap, in press)
in order to estimate the educational level of US immigrants by age and by country. As a result, our series are consistent
with the first national estimates of average schooling in 1940. We show that mass migrations have had a significant but modest
impact on the US average educational attainment. However, the educational gap between US natives and immigrants was large
and increased with the second immigration wave, a phenomenon that most likely fostered the implementation of restrictive immigration
rules in the 1920s. 相似文献
3.
In this paper, we revisit the relationship between educational and income inequalities in a historical perspective, using a newly developed annual dataset of average years of education in Europe. Theoretically one would expect a reduction in educational inequality should, given the positive correlation between education level and income, initially increase and then, at a later stage, reduce income inequality. Testing for such a Kuznets-type relationship between educational and income inequalities yields an unexpected result: we find the expected inverse U-curve before the 1950s, but the relationship changes into a normal U-curve afterward. We explain this observation by a change in the trend of skill premium during the second half of the twentieth century due to an increased relative demand for skills, which contradicts the usual assumption of decreasing returns to education. Due to lack of appropriate wage data, we cannot directly capture this effect. Yet, once we use an instrumental variable estimation method to filter out the effect of the omitted skill premium, the expected inverse U-curve also appears for the latter decades of the twentieth century. 相似文献
4.
Standard economic indicators suggest that the USA experienced long-run economic growth throughout the nineteenth century.
However, biological indicators, including human stature, offer a different picture, rising early in the century, falling (on
average) mid-century, and rising again at the end of the century. This pattern varied across geographical regions. Using a
unique data set, consisting of mean adult stature by state, we test for convergence in stature among states in the nineteenth
century. We find that during the period of declining mean stature (1820–1870), heights actually diverged. Later in the century
(1870–1890) we find a type of “negative” convergence indicating that stature among states tended to converge to a new, lower
steady state. Only towards the end of the century (1880–1900) do we find classic convergence behavior. We argue that the diversity
of economic experiences across regions, including urbanization, industrialization, and transportation improvements, explain
this pattern of divergence and then convergence.
相似文献
Lee A. CraigEmail: |
5.
The current era of globalisation has witnessed a rising premium paid to skilled workers resulting in increasing wage inequality
in most OECD countries. This pattern differs from that observed during the past globalisation period (1880–1913), in which
wage inequality decreased in most of the Old World countries. The present debate over wage inequality focuses on the implications
of globalisation, technological change, the role of labour market institutions and education. Similar factors were at work
in the past globalisation process. In order to disentangle the main factors that contribute to wage inequality, we calibrate
a general equilibrium model for the UK economy in the past globalisation period. The results show that a trade shock and a
skilled-biased technology shock increased wage inequality. However, education and emigration had a more significant impact
and led to a decrease in wage inequality. 相似文献
6.
Francesco Cinnirella 《Cliometrica》2008,2(3):229-257
Saxony was one of the pioneer regions in the German modern economic growth. We analyze the Saxon nutritional status to infer
the effects of early industrialization on the population standard of living. We find that the nutritional status in the eighteenth
century was relatively high and heights fluctuated mainly because of wars. From the 1770s the average nutritional status declined
steadily, with the exception of the Napoleonic period, until the mid of the nineteenth century. The decline, particularly
accentuated after 1815, is related to the high share of urbanization, the increase in the relative price of food, and the
strong dependence on food imports.
相似文献
Francesco CinnirellaEmail: URL: www.lrz-muenchen.de/∼u5152ak/webserver/webdata/cinnirella/ |
7.
Emanuele Felice 《Cliometrica》2012,6(3):267-306
The article aims to present and discuss estimates of levels of human and social capital in Italy??s regions over the long term, i.e., roughly from the second half of the nineteenth century up to the present day. The results are linked to newly available evidence for regional value added in order to begin to form an explanatory hypothesis of long-term regional inequality in Italy: convergence in value added per capita is tested in light of the neoclassical exogenous growth approach, which incorporates human capital and social capital as conditioning variables into a long-term production function. In contrast with conventional wisdom (e.g. Putnam 1993), we find that social capital was not a significant predictor of economic growth in post-Unification Italy: It grew in importance only in the last decades. Conversely, human capital was more important in the first half of the twentieth century. Results suggest that there was not one single conditioning variable over the long run, thus supporting the view that, in different periods, conditioning variables can be determined by technological regimes. 相似文献
8.
Chenting Su Kevin Zheng Zhou Nan Zhou Julie Juan Li 《Journal of the Academy of Marketing Science》2008,36(3):378-394
To market important products to families successfully, salespeople must understand how couples behave in concert to resolve
conflict across major decisions. The authors develop a model of spousal fairness and test it with a study of multi-period
family purchase decision making. The results show that a spousal sense of fairness serves as a mechanism for contemporary
couples to harmonize conflict over time in family decisions. Specifically, spouses’ perceived fairness mediates the relationship
between spousal prior influence and spousal decision behavior in subsequent decisions. Spouses also consider their partner’s
perceptions of fairness when taking action to restore fairness. Moreover, the effects of perceived fairness are moderated
by spousal traits of empathy, egalitarianism, and empowerment in a gendered pattern.
相似文献
Julie Juan LiEmail: |
9.
Matthias Zehetmayer 《Cliometrica》2013,7(2):161-187
This study analyzes trends and determinants of the height of men born in the 100 largest American urban areas during the second half of the nineteenth century and compares them with heights of the rural population. In this sample of 21,704 US Army recruits, there is an urban height penalty of up to 0.58 in. (1.5 cm). An increment in urban population of 100,000 is associated with a height decrease of about 0.31 in. (0.8 cm). Urban heights declined after 1855 followed by stagnation until the early 1890s, whereas rural heights stagnated from the late 1840s until 1885. Urban recruits from the northeast were 0.46 in. (1.2 cm) shorter than urban Midwestern recruits. There is some evidence of a height convergence between large and small cities toward the end of the century and of an inverted U-shaped relationship between height and city size. Urban heights were positively correlated with the extent of the railroad network, the real wage rate in the manufacturing sector, and high socioeconomic status, while they were negatively correlated with the death rate, and the percentage of the city’s population employed in manufacturing. 相似文献
10.
Shibin Sheng Kevin Zheng Zhou Julie Juan Li Zhaoyang Guo 《Journal of the Academy of Marketing Science》2018,46(6):1014-1031
The marketing channel literature has paid limited attention to institutional environments that constrain buyer–supplier exchanges, though such institutions are fundamental determinants of transaction costs, and thus of the occurrence of opportunism in the buyer–supplier dyads. Drawing on transaction cost economics and institutional theory, this study uncovers the critical influence of formal and informal institutions (i.e., legal effectiveness and networking expenditure) on the use of governance in deterring opportunism, as well as the moderating role of government support on the efficacy of governance mechanism. The findings from a buyer–supplier dyadic survey and 2 secondary datasets reveal that legal effectiveness mitigates opportunism through increased use of both contractual and relational governance; in contrast, networking expenditure reduces opportunism through relational governance, yet increases opportunism via lowering contractual governance. In addition, contractual governance is more efficient in constraining opportunism when government support is high, whereas relational governance deters opportunism more when government support is low. These findings offer important implications for academic research and managerial practice. 相似文献
11.
John Komlos 《Cliometrica》2007,1(3):211-237
We examine secular trends in biological well-being in the Habsburg Monarchy circa 1850–1910 on the basis of evidence on the
physical stature of recruits disaggregated at the regional level. We find that heights stagnated generally among the 1850s
birth cohorts. The secular increase in heights that lasted until the twenty-first century began among the 1860s birth cohorts.
Men born in the more developed Czech and Austria areas were as tall as many populations in Western Europe, whereas the men
born in the Polish/Ukrainian provinces were about as tall as the Mediterranean populations. There was a 3.3 cm gap between
the heights of men living in the core versus periphery of the Monarchy, which reflects a substantial gap in biological living
standards. We also consider spatial convergence of biological living standards. Heights did not converge across the different
provinces of the Monarchy at all in the 1850s, diverged in the 1860s, and began to converge subsequently. Convergence was
more rapid among those born in the 1880s than among the cohorts of the 1870s, even though the average rate of increase in
heights was greater in the 1870s than in the 1880s. The convergence was limited to the peripheral regions (Polish/Ukrainian,
Romanian, and Slovakian). No convergence was evident among the Austrian, Czech, Hungarian or Croatian areas. By the end of
the period under consideration the gap between Austrian and Polish/Ukrainian heights was reduced to 1.5 cm. The evidence on
heights is quite similar to the evidence on GDP growth insofar as it points to some positive elements but is by no means uniformly
favorable. The Monarchy was not stagnating, or about to collapse on the eve of World War I on account of economic considerations
as the Soviet Union did, but it was also not among the high-achievers of the era as the Scandinavian countries or Germany.
相似文献
John KomlosEmail: |
12.
Michael Song C. Anthony Di Benedetto Yushan Zhao 《Journal of the Academy of Marketing Science》2008,36(2):215-233
We develop a conceptual model for studying the antecedents and consequences of achieved and optimal levels of manufacturer–distributor
(M–D) cooperation. We hypothesized that levels of market turbulence, competitive intensity, and the manufacturing firm’s strategic
type (i.e., prospector, analyzer, or defender) affected the optimal level of M–D cooperation. We also hypothesized that the
level of under- and overachieving the optimal levels of cooperation negatively affects firm performance. The conceptual model
is tested using empirical data collected from 295 manufacturing firms in the U.S. and validated using data collected from
104 distributors in the U.S. We also collect data from 255 Japanese manufacturing firms and 98 Japanese distributors. The
empirical results support the model’s hypotheses with only one unexpected finding: in the Japanese sample, overachieving the
optimal level of cooperation has a greater negative effect on performance than underachieving. We conclude by discussing theoretical
and managerial implications.
相似文献
C. Anthony Di BenedettoEmail: |
13.
In this paper, we investigate the main features of the Italian financial cycle, extracted by means of a structural trend-cycle decomposition of the credit-to-GDP ratio, using annual observations from 1861 to 2011. In order to draw conclusions based on solid historical data, we provide a thorough reconstruction of the key balance sheet time series of Italian banks, considering all the main assets and liabilities over the last 150 years. We come to three main conclusions. First, while there was close correlation between loans and deposits (relative to GDP) until the mid-1970s, over the last 30 years, this link became more tenuous and the volume of loans has increased in relation to deposits. The banks covered this “funding gap” mainly by issuing new debt securities. Second, the Italian financial cycle has a much longer duration than traditional business cycles. Third, taking into account the deviation of the credit-to-GDP ratio from its trend, an acceleration of credit preceded or accompanied a banking crisis in 8 out of the 12 episodes listed by Reinhart and Rogoff (This time is different: eight centuries of financial folly. Princeton University Press, Princeton, 2009). A Logit regression confirms a positive association between the probability of a banking crisis and a previous acceleration of the credit-to-GDP gap. However, there were also periods—such as the early 1970s—in which the growth of the credit-to-GDP ratio was not followed by a banking crisis. 相似文献
14.
The interaction between investment in children’s education and parental fertility is crucial in recent theories of the transition
from Malthusian stagnation to modern economic growth. This paper contributes to the literature on the child quantity–quality
trade-off with new county-level evidence for Prussia in 1816, several decades before the demographic transition. We find a
significant negative causal effect of education on fertility, which is robust to accounting for spatial autocorrelation. The
causal effect of education is identified through exogenous variation in enrollment rates due to differences in landownership
inequality. A comparison with estimates for 1849 suggests that the preference for quality relative to quantity might have
increased during the first half of the nineteenth century. 相似文献
15.
王泽峰 《山西财经大学学报》2007,29(Z1):234
在最近的二十年中,随着科学技术的发展互联网也以惊人的速度发展着,互联网如今已成为最重要的商业传播媒介这一,但在发展的同时,我们也应注意到一些潜在的问题。文章探讨了在互联网络里消费者的权益保护以及各国目前就使用一些好的可以被我国借鉴的方法以及电子商务在现实中发挥的重要作用。 相似文献
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“十一五”时期是湖南经济社会加速发展的关键时期,按照湖南省委第八届三次会议提出的《湖南省全面小康社会规划纲要草案》的要求,这一时期,我省经济总量要在2000年基础上翻一番,人均GDP达到全国平均水平。“十一五”规划的制定和实施关乎全省发展大局,要把握好这一大局,就必须 相似文献
19.
程敏 《湖北经济学院学报(人文社会科学版)》2014,(12):106-107
Lost in Translation的片名翻译需要以对片名,特别是"Translation"一词的正确理解为前提。本文以该影片片名的翻译为案例,提出片名翻译要在反映电影主要内容的同时,具备吸引力和美感。 相似文献
20.
《桂林旅游高等专科学校学报》1999,(Z1)
Since1985,IhavebeenteachingaListeningcomprehensioncourseinGuilinCollegeofTechnology,SharingtheteachingwithAmericanteachers.Myyearsofteachinghaveen-couragedmetowritethisarticle.First,I'llprovidesomefactsaboutthepoorlisteningskillsofourgraduates;then,I… 相似文献