Trade Shocks, Labour Markets and Elections in the First Globalisation
Richard Bräuer, Wolf-Fabian Hungerland, Felix Kersting
IWH-CompNet Discussion Papers,
Nr. 4,
2021
Abstract
This paper studies the economic and political effects of a large trade shock in agriculture – the grain invasion from the Americas – in Prussia during the first globalisation (1871-1913). We show that this shock accelerated the structural change in the Prussian economy through migration of workers to booming cities. In contrast to studies using today’s data, we do not observe declining per capita income and political polarisation in counties affected by foreign competition. Our results suggest that the negative and persistent effects of trade shocks we see today are not a universal feature of globalisation, but depend on labour mobility. For our analysis, we digitise data from Prussian industrial and agricultural censuses on the county level and combine it with national trade data at the product level. We exploit the cross-regional variation in cultivated crops within Prussia and instrument with Italian trade data to isolate exogenous variation.
Artikel Lesen
Aspects of the Political Economy of the European Banking Union
Lena Tonzer
PolEconFin Initiative,
2021
Abstract
The regulatory architecture of the financial system has significantly changed after the global financial crisis of 2008/09. In Europe, the introduction of the Single Rulebook has been a major change and provides the legal foundation for the European Banking Union (EBU). The Single Rulebook consists of a regulation, the Capital Requirements Regulation (CRR), and three main directives targeting capital regulation and compensation of managers, harmonization of deposit insurance schemes, as well as resolution and restructuring rules (Capital Requirements Directive (CRD IV), Deposit Guarantee Schemes Directive (DGSD), Bank Recovery and Resolution Directive (BRRD)).
Artikel Lesen
CompNet Database
The CompNet Competitiveness Database The Competitiveness Research Network (CompNet)...
Zur Seite
PhD Graduates Financial Markets
PhD Graduates of the Department of Financial Markets Hannes Böhm: "The Role of...
Zur Seite
Lecturers
Lecturers at CGDE Institutions ...
Zur Seite
Bräuer wp
Trade Shocks, Labour Markets and Elections in the First Globalisation ...
Zur Seite
Gebietsstands-Transformation Deutschland
Schlüsselbrücken zur Gebietsstands-Transformation in Deutschland Der Staat besitzt...
Zur Seite
Reports des European Forecasting Network (EFN)
Reports des European Forecasting Network (EFN) Das European Forecasting Network...
Zur Seite