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作者:Schnabel, I
摘要:Using information on banks' balance sheets, I analyze the causal links between the banking and currency problems in the German crisis of 1931. I find that the crisis had two independent causes: Political shocks triggered a run on the Reichsmark; and the excessive risk-taking by banks that were too big to fail led to a run on banks. Due to the high level of foreign debt in the banking system, the run on the currency and the deposit withdrawals reinforced each other in a vicious circle and resul...
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作者:George Mason University
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作者:University of Oxford; Queens University - Canada; Queens University - Canada
摘要:In this article we investigate the possibility that a regulatory regime designed to maximize the profitability of the early Dutch whaling industry could have simultaneously guaranteed the biological sustainability of the eastern Arctic Bowhead whale. We find that policies with economic profit as the sole objective could have saved the whales, as well as increasing the incomes of the whalers, under assumptions commonly made in fisheries models. However, the necessary assumptions are implausible...
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作者:Brigham Young University
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作者:University System of Maryland; University of Maryland College Park
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作者:Roosevelt University
摘要:If replacing welfare with private charity has increased the self-reliance of the poor, the benefits would be observed in the charity organization movement of the late nineteenth century. Inebriation would subside, the heart would be cheered, earnings would rise, the broken would be complete, dependence would wither, and the classes would converge. If the benefits were large, they would have been large in Indianapolis-the beacon of charity in a Coasean landscape. The hypotheses are tested in ha...
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作者:University of California System; University of California Berkeley
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作者:University of California System; University of California Riverside; University of Michigan System; University of Michigan
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作者:University of North Carolina; University of North Carolina Greensboro
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作者:Bucknell University