Paying for the liberal state : the rise of public finance in nineteenth century Europe

Public finance is a major feature of the development of modern European societies, and it is at the heart of the definition of the nature of political regimes. Public finance is also a most relevant issue in the understanding of the constraints and possibilities of economic development. This paper is about the rise and development of taxation systems, expenditure programs, and dept regimes in Europe from the early nineteenth century to the beginning of World War I. Its main purpose is to describe and explain the process by which financial resources were raised and managed. We analyse nine countries or empires that are considered highly representative of the widest European experience on the matter and discuss whether there are any common patterns in the way the different European states responded to the need for raising additional resources to pay for the new tasks they were performin

Paying for the liberal state : the rise of public finance in nineteenth century Europe.

Public finance is a major feature of the development of modern European societies, and it is at the heart of the definition of the nature of political regimes. Public finance is also a most relevant issue in the understanding of the constraints and possibilities of economic development. This paper is about the rise and development of taxation systems, expenditure programs, and dept regimes in Europe from the early nineteenth century to the beginning of World War I. Its main purpose is to describe and explain the process by which financial resources were raised and managed. We analyse nine countries or empires that are considered highly representative of the widest European experience on the matter and discuss whether there are any common patterns in the way the different European states responded to the need for raising additional resources to pay for the new tasks they were performingNineteenth Century Europe; Governments; Public finances; Taxation;

Asymptotic Quasinormal Frequencies for Black Holes in Non-Asymptotically Flat Spacetimes

The exact computation of asymptotic quasinormal frequencies is a technical problem which involves the analytic continuation of a Schrodinger-like equation to the complex plane and then performing a method of monodromy matching at the several poles in the plane. While this method was successfully used in asymptotically flat spacetime, as applied to both the Schwarzschild and Reissner-Nordstrom solutions, its extension to non-asymptotically flat spacetimes has not been achieved yet. In this work it is shown how to extend the method to this case, with the explicit analysis of Schwarzschild de Sitter and large Schwarzschild Anti-de Sitter black holes, both in four dimensions. We obtain, for the first time, analytic expressions for the asymptotic quasinormal frequencies of these black hole spacetimes, and our results match previous numerical calculations with great accuracy. We also list some results concerning the general classification of asymptotic quasinormal frequencies in d-dimensional spacetimes.Comment: JHEP3.cls, 20 pages, 5 figures; v2: added references, typos corrected, minor changes, final version for JMP; v3: more typos fixe

Inequality, a scourge of the XXI century

Social and economic inequality is a plague of the XXI Century. It is continuously widening, as the wealth of a relatively small group increases and, therefore, the rest of the world shares a shrinking fraction of resources. This situation has been predicted and denounced by economists and econophysicists. The latter ones have widely used models of market dynamics which consider that wealth distribution is the result of wealth exchanges among economic agents. A simple analogy relates the wealth in a society with the kinetic energy of the molecules in a gas, and the trade between agents to the energy exchange between the molecules during collisions. However, while in physical systems, thanks to the equipartition of energy, the gas eventually arrives at an equilibrium state, in many exchange models the economic system never equilibrates. Instead, it moves toward a "condensed" state, where one or a few agents concentrate all the wealth of the society and the rest of agents shares zero or a very small fraction of the total wealth. Here we discuss two ways of avoiding the "condensed" state. On one hand, we consider a regulatory policy that favors the poorest agent in the exchanges, thus increasing the probability that the wealth goes from the richest to the poorest agent. On the other hand, we study a tax system and its effects on wealth distribution. We compare the redistribution processes and conclude that complete control of the inequalities can be attained with simple regulations or interventions

Are Older Workers Worthy of Their Pay? An Empirical Investigation of Age-Productivity and Age-Wage Nexuses

Using longitudinal employer-employee data spanning over a 22-year period, we compare age-wage and age-productivity profiles and find that productivity increases until the age range of 50-54, whereas wages peak around the age 40-44. At younger ages, wages increase in line with productivity gains but as prime-age approaches, wage increases lag behind productivity gains. As a result, older workers are, in fact, worthy of their pay, in the sense that their contribution to firm-level productivity exceeds their contribution to the wage bill. On the methodological side, we note that failure to account for the endogenous nature of the regressors in the estimation of the wage and productivity equations biases the results towards a pattern consistent with underpayment followed by overpayment type of policies.aging, productivity, wages

Energy efficiency of social housing existing buildings – a portuguese case study

The European energy performance building regulations, Directive 2002/91/EC - Energy Performance of Buildings Directive (EPBD) of the European Parliament and Council, require that new buildings present minimum standards of energy efficiency. Accordingly the Portuguese regulations require that new buildings comply with minimum requirements on the energy performance and must have an energy performance certification through witch an energy efficiency label is attributed to the housing. It also require that existing buildings must have an efficiency energy label when submitted to a commercial transaction or to a deep rehabilitation. To achieve this goal the study of energy performance of existing buildings must be done. As many essentials elements to determine the U-factor and other thermal parameters are unknown, Portugal developed a simplified methodology to achieve the thermal performance of existing buildings. The aim of this paper is to present the study of the energy performance of a set of social dwellings that were constructed during the decade of 80, constructed before the former building thermal comfort specifications came into force. During the study the referred methodology was applied and conclusions of the energy efficiency label obtained were put out as the encountered difficulties. The study also compares the results obtained by the simplified methodology and by the detailed methodology that is required by Portuguese building thermal comfort specifications

The Timing of Labor Demand

We examine the timing of firms' operations in a formal model of labor demand. Merging a variety of data sets from Portugal from 1995-2004, we describe temporal patterns of firms' demand for labor and estimate production-functions and relative labor-demand equations. The results demonstrate the existence of substitution of employment across times of the day/week and show that legislated penalties for work at irregular hours induce firms to alter their operating schedules. The results suggest a role for such penalties in an unregulated labor market, such as the United States, in which unusually large fractions of work are performed at night and on weekends.labor demand, time use, wage penalty

Free Trade, Political Economy and the Birth of a New Economic Nation: Brazil, 1808–1810

In late 1807, Brazil was still a part of the Portuguese empire. As a consequence of the outbreak of the Peninsular War, the Prince Regent and the court moved to Brazil, an amazing voyage planned as a way of safeguarding Portugal’s sovereignty over her vast territories. When the royal ships arrived in Brazil, the first measure to be taken was the decree which opened up Brazilian ports to British commercial vessels, thus putting an end to the old system of exclusive colonial trading between Brazil and Portugal. This was indeed the very first sign of a much larger process of economic liberalisation that was shortly to follow. In this process, a special role was to be played by the science of political economy used as a rationale for economic change and ultimately serving as an instrument for political independence.Al final de 1807, Brasil era la joya del imperio portugués. Ante la amenaza de invasión del territorio por parte del ejército napoleónico, y con el objetivo de garantizar el pleno ejercicio de la soberanía política, la corte portuguesa se trasladó a Brasil. La primera acción del Príncipe Regente Don Juan fue decretar la apertura de los puertos brasileños al comercio de las naciones amigas, poniendo fin a un largo periodo de comercio exclusivo colonial entre Brasil y la metrópoli. Gran Bretaña fue la principal beneficiaria de la apertura del comercio brasileño, así como de otras medidas de liberalización económica inspiradas en los principios y doctrinas de la economía política. De esta forma, esta ciencia asumió un papel decisivo en la cimentación de la autonomía económica de la nación brasileña, lo que vendría a afianzar su independencia política en 1822

The Timing of Labor Demand

We examine the timing of firms' operations in a formal model of labor demand. Merging a variety of data sets from Portugal from 1995-2004, we describe temporal patterns of firms' demand for labor and estimate production-functions and relative labor-demand equations. The results demonstrate the existence of substitution of employment across times of the day/week and show that legislated penalties for work at irregular hours induce firms to alter their operating schedules. The results suggest a role for such penalties in an unregulated labor market, such as the United States, in which unusually large fractions of work are performed at night and on weekends.J23; J78