bluuebunny/crossref_metadata_2025_split huggingface dataset:
Tax Assessments for the Geld
Authors: McDonald John , Snooks G. D. 
Published: October 2003

Abstract‘Tax assessments for the geld’ is concerned with whether the national tax called danegeld was arbitrarily imposed on the population as claimed by conventional wisdom. While arbitrary taxes—taxes that bear no systematic relationship to the capacity to pay—lead to revolts, the geld lasted about two centuries. By computerizing the DB data for Essex and Wiltshire, it was possible to statistically test, for both 1066 and 1086, the relationship between Domesday tax assessments on the one hand, and both (but separately) the income and total resources of lay and ecclesiastical manors on the other. Contrary to traditional wisdom, the results show that the geld was not arbitrary—a sign of rational government. Other historical issues are also clarified.
Manorial Income
Authors: McDonald John , Snooks G. D. 
Published: October 2003

Abstract‘Manorial income’ is concerned with whether the income of Domesday manors was systematically related to their resources. The traditional interpretation states that no such relationship existed. This implies that manorial lords, unlike their counterparts today, were economically irrational. In other words, manorial income was the outcome of some sort of medieval lottery. Following a discussion of the nature of manorial income (or ‘annual values’) and their traditional interpretation (by Round, Maitland, and Darby), their relationship with manorial resources is tested econometrically for 1066 and 1086 for both lay and ecclesiastical manors in both Essex and Wiltshire. Contrary to conventional wisdom, strong systematic relationships were found to exist. Medieval man was just as rational as modern man.
The System of Manorial Production
Authors: McDonald John , Snooks G. D. 
Published: October 2003

Abstract‘The system of manorial production’ for the first time, demonstrates how Anglo‐Norman society operated as an economic system. This involves setting up a model of manorial production and testing it by estimating a range of sophisticated production functions. These production functions are more appropriate to simple medieval economies than to complex modern economies. The econometric results provide a basis for a new interpretation of the Anglo‐Norman economy, which contradicts the conventional wisdom in significant respects (particularly, regarding the rationality of the entire system).
Towards an Economics of Domesday England
Authors: McDonald John , Snooks G. D. 
Published: October 2003

Abstract‘Towards an economics of Domesday England’ is the concluding chapter of the interpretative section (Part I) of the book. (Part II discusses the economic and statistical methods.) It surveys what has been achieved, together with what further work might be undertaken in the future to extend this new view of the Anglo‐Norman economy.
Tax Reform and the Cost of Capital
Authors: Jorgenson Dale W. , Yun Kun-Young 
Published: October 2003

AbstractThe concept of ‘cost of capital’ was introduced almost thirty years ago and quickly became an indispensable tool for modelling the impact of tax policy on investment behaviour. In the 1980s it assumed a central role in tax reform debates through the closely related concept of the marginal effective tax rate. This book provides a comprehensive treatment of the cost of capital approach to tax policy analysis. In order to make the approach as accessible as possible, the analytical level of the book has been kept to an absolute minimum. The complexities are introduced in a step-by-step fashion, leading up to a representation of tax systems for capital income that is suitable for tax policy analysis. The success of the cost of capital approach is due in large part to its ability to assimilate a virtually unlimited amount of descriptive detail on alternative tax policies. In order to provide guidance to students and practitioners, the book contains a full implementation of the approach for the USA, including an analysis of the alternative proposals that culminated in the highly influential Tax Reform Act of 1986. The chapters of the book are the first in a series of Lectures in Monetary and Fiscal Policy given at Uppsala University in honour of Erik Lindahl, the Swedish economist who was a professor there from 1942 to 1958.
London and Amsterdam: The Great Crashes in These Cities in 1720
Authors: Murphy Antoin E. 
Published: October 2003

Abstract
Describes the Great Crashes in these cities in 1720. The great financial crashes of the Mississippi Company in Paris and the South Sea in London during 1720 and the way in which Cantillon increased his fortune through his speculations are outlined. John Law attempted to invite Cantillon back to France to assist him in his attempt to sustain the Mississippi System.
The Demise of Richard Cantillon
Authors: Murphy Antoin E. 
Published: October 2003

Abstract
Describes the strange demise of Richard Cantillon in Albemarle Street in 1734. Was he murdered by his French cook or did he arrange his apparent death and escape to the Dutch Colony of Surinam? Who was the mysterious Chevalier de Louvigny who arrived in Surinam with a collection of documents relating to Richard Cantillon?
The Subject and Method
Authors: Kornai János 
Published: October 2003

AbstractThis chapter explains the coverage of the book, and outlines the methods used in the analysis of the socialist system. The purpose of the book is stated as a close study of the phenomena, causal relationships and regularities that are similar in China, the Soviet Union, North Korea, Yugoslavia, and in general all countries where a Communist Party was, or still is, in power. Definitions are given of socialist countries, and of the terms socialism and political economy. The methods used – positive analysis of the socialist system in reality, as it has emerged historically, and modelling – are described.
Power
Authors: Kornai János 
Published: October 2003

AbstractAn account is given of the institutions of power in socialist systems and the way that they work. It starts with the party, and then goes on to the state, and the organizations and associations (mass organizations) in society, which, with few exceptions, are characterized by having an organizational monopoly (i.e. there is one of each per field). Further sections discuss the cohesive forces and internal conflicts in the system, and its repressive totalitarian nature.
Ideology
Authors: Kornai János 
Published: October 2003

Abstract
Aspects are discussed of the ideology of socialist systems, and of the ideas, beliefs, promises, values, and moral imperatives that contribute to the formation, stabilization, and maintenance of the classical socialist system. The various parts of the chapter cover: the official ideology; the socialist system's sense of superiority; the basic promises; self‐legitimization and the paternalistic nature of power; discipline, willing sacrifice, vigilance; and power and ideology.
Property
Authors: Kornai János 
Published: October 2003

Abstract
The first part of the chapter explains the general concepts involved in ownership. It then considers some of the characteristic forms of private property (private ownership) typical of contemporary capitalism, before going on to a methodical examination of property rights (public ownership) under the classical socialist system. This covers the state‐owned firm, other forms of state property, the co‐operative, and the very restricted scope of private property and private production.
Coordination Mechanisms
Authors: Kornai János 
Published: October 2003

AbstractA coordination mechanism is a subsystem of the social system that coordinates the activities of the persons or organizations within it. Wherever a relation subsists between two or more persons or organizations , their activities require coordination in some form. This chapter defines and discusses the five main types of coordination mechanisms and notes their relative roles in the classical socialist system. The five types are bureaucratic coordination (the system applied most widely under classical socialism), market coordination, self‐governing coordination, ethical coordination, and family coordination.
Planning and Direct Bureaucratic Control
Authors: Kornai János 
Published: October 2003

AbstractA comprehensive analysis is made of planning under the socialist system. This starts with an account of the elaboration of the national economic plan; there are various plans of various lengths, and this discussion focuses on the annual plan, which is the real operational tool in running the economy. The next section of the chapter discusses plan implementation. Both these sections describe the processes according to the official regulations. The remaining sections of the chapter discuss the ‘actual rules of the game’, together with the interests, motives, and conflicts of the participants, and the problem of the vast amount of information required for the planning process.
Money and Price
Authors: Kornai János 
Published: October 2003

Abstract
This chapter addresses the financial system and prices under the socialist system. The first three sections survey the institutions of the financial system and the structure of the financial processes—banking, the state budget, and the different money‐holding sectors that control money flow. The next two sections examine the social relations expressed in those processes—soft and hard budget constraints, and income and price responsiveness. The remainder of the chapter discusses prices—administrative producer prices, administrative consumer prices, market prices, and non‐price signals.
Shortage and Inflation: The Causes
Authors: Kornai János 
Published: October 2003

AbstractAn examination is made of the multiple causes of the two related phenomena of shortage and inflation in the classical socialist system, addressing these causes at both the micro and the macrolevel. The first two sections of the chapter contrast the behaviour of the firm in short‐ and long‐term decision making under the capitalist system, with that under the socialist system. The next seven sections discuss the behaviour of the bureaucracy managing production; the role of relative prices; repressed inflation in interfirm relations and in the consumer sphere; excess demand on the macrolevel; the propensity to inflation, and the relationship between shortage and inflation; and the self‐inducement and reproduction of shortage. The last two sections give an overview of the socialist system–specific nature of the causes of shortage and inflation, and point out the economic inefficiency and lack of innovatory technical progress in the system.
External Economic Relations
Authors: Kornai János 
Published: October 2003

Abstract
Various aspects of the external economic relations of socialist countries are examined. The first section of the chapter looks at the external relations of socialist countries with various different categories of countries in the light of the ideological tenet of the classical system that socialism is surrounded by enemies intent on destroying it. The institutional system of socialist external economic relations is then described. The next two sections describe the behaviour of socialist countries, and economic trends in foreign trade and financial relations, first with capitalist countries, and then with other socialist countries. The last section looks at the attempts of socialist countries at integration, specifically describing the establishment and operation of the Council of Mutual Economic Assistance (CMEA, known in the West as Comecon).
The Coherence of the Classical System
Authors: Kornai János 
Published: October 2003

AbstractThis last chapter on the classical socialist system identifies the main connections among the regularities in its constituent elements. First, the main lines of causality between the different phenomena of the system (undivided power, dominance of the state, bureaucracy, plan bargaining, and forced growth and shortage) are discussed, and the affinity among these main elements of the system is addressed. The socialist prototype and its national variations are described, and the possible importance of the Soviet effect in the development of the structure and main attributes of the classical socialist system is discussed. The last part of the chapter proffers the theory that the socialist system is not capable of a renewal (reform) that could free it from its dysfunctional features while retaining the sole rule of the communist party, and briefly addresses the viability of the classical system in terms of timescales.
The Dynamics of the Changes
Authors: Kornai János 
Published: October 2003

AbstractThis chapter looks at the causes for the move away from the classical socialist system and discusses the dynamics of the process. The inducements for the change, which may differ in depth and radicalism, are rooted in the accumulated tensions and contradictions of the classical system: the first group of symptoms is an accumulation of economic difficulties, the second public dissatisfaction, the third loss of confidence by those in power, and the fourth outside example. The distinction is made between change based on reform and that based on revolution, and a chronology is presented of reforms and revolutions in different socialist countries in which they have occurred
The “Perfection” Of Control
Authors: Kornai János 
Published: October 2003

Abstract
The ‘perfection’ of control described in this chapter refers to the sorts of apparently genuine changes to the classical socialist system seen in official declarations, regulations, and campaigns that, in fact, result in no alterations to the basic features of the system. These pseudoreforms are initiated by people who have realized that there is something wrong, but are still convinced that the system is basically right and would operate better if ‘perfected’. The ‘perfection’ tendency results in reorganization, and this is shown to have occurred at upper and lower levels during the course of disintegration of socialist systems. Another factor in the perfection tendency is the transformation of planning and direct control. Eventually, it is realized that no amount of reorganization or transformation of planning and control will improve the situation.
The Rise of the Private Sector
Authors: Kornai János 
Published: October 2003

Abstract
The rise of the private sector is the most important tendency in the economic sphere during the process of reform of classical socialism. This is also matched by a no less strong tendency to obstruct and restrict the development of the private sector. The following aspects of this type of reform are addressed in the chapter: inducements behind the development of the private sector, types of private sector reform that have occurred in various socialist countries, the private sector in relation to official ideology, the affinity of private ownership and market coordination, the private sector and bureaucracy, and the economic role of the family.
Price Reforms
Authors: Kornai János 
Published: October 2003

Abstract
One of the major tendencies in the move away from the classical socialist system is a modification of the price system. This is closely related to the revival of the private sector and reform of the control of the state sector towards market socialism. The price reforms described in this chapter alter the coordination mechanisms and behaviour of participants in the economy. They do not cause a radical change but are sufficiently important to qualify as part of the reform process. The different sections of the chapter discuss changes in the determination of product prices as a result of a change in the proportions of the areas in which each of the three types of price determination (administrative, pseudoadministrative, and market) occur; determination of the prices of production factors; principles and practice of state price determination and fiscal redistribution; and the scope and limits of price reforms.
International Economics and Domestic Politics: Notes on the 1920s
Authors: Eichengreen Barry , Simmons Beth 
Published: October 2003

AbstractThere were radical differences in post‐war exchange‐rate regimes, and associated monetary and fiscal policies. Some countries accommodated moderate inflation by abandoning their pre‐war gold parities; others subjected themselves to painful deflation in order to restore gold convertibility at the pre‐war rates. Major policy differences were again evident in response to the Great Depression, with some eagerly abandoning the gold standard, others seeking at all costs to preserve it. To explain these differences, Eichengreen and Simmons investigate the relationship between economic policy and domestic political systems. They find that countries with independent central banks, more stable governments, larger governing majorities, and, more surprisingly, left‐wing parliamentary majorities were better able to resist currency depreciation in the 1920s.
Exchange‐Rate Policy and Macroeconomic Performance: A Comparison of French and Italian Experience Between the Wars
Authors: Asselain Jean‐Charles , Plessis Alain 
Published: October 2003

AbstractFrance and Italy both stabilized their currencies relatively late. Although the French franc was initially undervalued and the lira overvalued, there were significant similarities in subsequent developments. Both countries remained on the gold standard after the departure of Britain in 1931, and both were eventually forced to devalue after a difficult period of deflation in the mid‐1930s. This study examines the effects of these decisions on trade and growth in the two countries. Italy was more successful than France in holding down the rate of inflation and also achieved a more rapid rate of economic growth. The authors attribute this primarily to the ability of the Fascist dictatorship to impose a consistent policy on the Bank of Italy and the commercial banks, to maintain effective exchange controls, and to enforce wage reductions on the labour force.
Managing the Franc in Belgium and France: The Economic Consequences of Exchange‐Rate Policies, 1925–1936
Authors: Cassiers Isabelle 
Published: October 2003

AbstractThe central feature of this comparative analysis of the French and Belgian experience is the distinction between the international and domestic sectors of the two economies. The author shows that in Belgium, as in France, the stabilization of the franc in 1926 brought a period of export‐led growth to an end, and further economic expansion rested on a boom in the domestic sector, with high profitability and a surge in private investment. In the case of Belgium, the domestic sector remained relatively prosperous during the initial stages of the Great Depression, but the strict deflationary policies imposed in the attempt to sustain the gold standard eventually reduced domestic demand and the economy plunged into depression. Both countries were forced to devalue, but political and economic differences made the process more successful in Belgium than in France.
Norwegian Banking in the Inter‐War Period: A Scandinavian Perspective
Authors: Nordvik Helge W. 
Published: October 2003

Abstract
Begins with an account of the development of the Norwegian banking system before the First World War and then examines the long and severe banking crisis of 1923–28, and the policies adopted following the decision to leave the gold standard in 1931. In the 1920s, the deflationary policy pursued by the Bank of Norway in order to return to the gold standard at the old 1914 parity was responsible, together with the exceptional boom that the banking sector had experienced during the war years, for the severity of the banking crisis and for the slow real growth of the Norwegian economy. By contrast, the depreciation of the currency in 1931 contributed in important ways to the successful recovery and subsequent favourable growth record of the economy in the 1930s.
Portuguese Banking in the Inter‐War Period
Authors: Reis Jaime 
Published: October 2003

Abstract
Portugal was still a relatively poor country at the end of the First World War, and its banking system was small and undeveloped. The public viewed the commercial banks with suspicion, and growth of deposits and assets was very slow. The author examines events between the two wars and shows that the system changed considerably. Those banks that emerged in this period and learnt both to weather its storms, and to work within the highly regulated political regime in force from 1928, were to be Portugal's long‐term survivors. The events and policies of the two decades produced a financial system that was becoming progressively less fragile, more concentrated, and more specialized. Public trust in the system increased, and there was a strong expansion in the level of deposits and, thus, of the money supply.
Introduction and Overview
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

AbstractServes as an introductory overview for the rest of the book, and outlines its main aims. As a basis for the following chapters, an overview and clarification of equilibrium relationships in economic theory is presented. A preliminary discussion of testing for orders of integration and the estimation of long‐run relationships is provided. The chapter summarizes key concepts from time‐series analysis and the theory of stochastic processes and, in particular, the theory of Brownian motion processes. Several empirical examples are offered as illustration of these concepts.
Properties of Integrated Processes
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

Abstract
Presents the important properties of integrated variables and sets out some of the preliminary asymptotic theories essential for the consideration of such processes. It explores the concepts of unit roots, non‐stationarity, orders of integration, and near integration, and demonstrates the use of the theory in understanding the behaviour of least‐squares estimators in spurious regressions and in models involving integrated data. The theoretical analysis is accompanied by evidence from Monte Carlo simulations. Several examples are also provided to illustrate the use of Wiener distribution theory in deriving asymptotic results for such models.
Co‐Integration in Individual Equations
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

AbstractExamines methods of testing for co‐integration in single equations via static regressions, and provides simulation estimates of the percentiles of the distributions of statistics used in these tests. The finite‐sample biases of the estimates of the co‐integrating vectors and powers of the tests based on static regressions are discussed within the framework of extensive Monte Carlo simulations. Dynamic models leading to an error‐correction mechanism based test (ECM test for co‐integration) and non‐parametrically modified estimators are also considered as better ways of estimating the co‐integrating relationships.
Conclusion
Authors: Banerjee Anindya , Dolado Juan J. , Galbraith John W. , Hendry David F. 
Published: October 2003

AbstractThe final chapter summarizes the main themes of the book, and considers the invariance of the matrix of co‐integrating vectors in a linear system under both linear transformations and seasonal adjustment. Next, co‐integration is related to structured time‐series models that offer an alternative approach to modelling integrated data. Further developments in the theory are described, and the book concludes by reinterpreting some old econometric problems in light of co‐integration theory.