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Recently historians have complicated their understanding of networks. In particular, they have started to assess the role of networks in civic and formal arenas. This paper posits a quantitative methodology for a more nuanced and sophisticated analysis of mercantile networks within this environment. It uses visual analytics of Liverpool's business networks comprising political, trade, social and cultural institutions to assess their role in the changing social and economic climate during the period 1750-1810. This paper demonstrates the dynamic role of networks in the shaping of a metropolitan economy and the interplay between the two. In addition, it posits that, as is the case for regional clusters, there is a life cycle of networks. In this way, we are able to see how the networks sustained, nurtured and transformed social and economic activity during this period. [ABSTRACT FROM AUTHOR]

Abstract: This paper is concerned with the link between urban quality improvements and economic activity. A key question is whether improvements in the urban environment which might be achieved, for instance, through pedestrianisation, will affect business location choices - for example, are office or retail businesses particularly keen to locate in more pleasant urban places? The paper outlines the current state of development of the literature with respect to the influence of urban quality on economic activity, and proposes a framework for forecasting economic impacts based on three communities of reference: customers, employees, and the businesses themselves. The results from original modelling of a case study area in Manchester, England are reported and suggest that the positive uplifts that may be expected from environmental improvement programmes may well be on a scale which is significant. The research is obviously important for the urban regeneration and renaissance agendas which posit attractive and well-designed environments as a way to create the right conditions for promoting economic growth. [Copyright &y& Elsevier]

This paper investigates the causal effects of monetary policy on the British economy during the classical gold standard. Based on the narrative identification approach, I find that following a one percentage point monetary tightening, unemployment rose by 0.9 percentage points, while inflation fell by 3.1 percentage points. In addition, monetary policy shocks accounted for a third of macroeconomic volatility. [ABSTRACT FROM AUTHOR]

Abstract: This paper examines the cycling behavior of a deterministic and a stochastic version of the economic interpretation of the Lotka–Volterra model, the Goodwin model. We provide a characterization of orbits in the deterministic highly non-linear model. We then study a stochastic version, with Brownian noise introduced via a heterogeneous productivity factor. Existence conditions for a solution to the system are provided. We prove that the system produces cycles around a unique equilibrium point in finite time for general volatility levels, using stochastic Lyapunov techniques for recurrent domains. Numerical insights are provided. [Copyright &y& Elsevier]

This paper analyses environmental and economic performance of thermal utilization technologies of two different refuse derived fuel (RDF) manufactured from landfilled waste or fresh municipal waste, including incineration of landfilled RDF (I-LRDF), gasification of landfilled RDF (G-LRDF), replacement of partial coal by landfilled RDF for the cement industry (C-LRDF), incineration of municipal RDF (I-MRDF), and replacement of partial coal by municipal RDF for the cement industry (C-MRDF). The preference among the RDF utilization options is identified from the standpoints of various stakeholders by integrating the life cycle assessment (LCA) and techno-economic analysis (TEA) with the analytic hierarchy process (AHP) and technique for order preference by similarity to ideal solution (TOPSIS) approaches. RDF thermal utilization technologies bring an economic profit of $17.29∼$35.77 per ton of waste. Especially, I-LRDF has the worst effect on ecosystem quality and human health and can yield the greatest economic profit of $35.77 per ton of landfilled waste, while I-MRDF has the least impact on environment. In terms of the five RDF thermal utilization technologies, I-MRDF has the best comprehensive performance from the perspectives of different stakeholders. The improvement of the RDF thermal utilization efficiency is the most critical factor affecting the economic benefits for all cases. • Comparisons of RDFs manufactured from landfilled and fresh waste are novel. • LCA, TEA and MCDM of RDF thermal utilization technologies are studied. • I-MRDF has the best comprehensive performance in terms of five cases. • RDF thermal utilization brings an economic profit of $17.29∼$35.77/ton-waste. • This work helps guide the application of RDF thermal utilization technology. [ABSTRACT FROM AUTHOR]

Using the business cycle accounting framework [Chari V., P. Kehoe and E. McGrattan 2007. Business cycle accounting. Econometrica 75, 781-836.], this paper sheds new light on the French Great Depression. Frictions that reduce the efficiency with which factor inputs are used (efficiency wedge) were the primary factor in the economic downturn. The decline in consumption can be attributed to distortions in the Euler equation (investment wedge). In addition, frictions creating a gap between the marginal rate of substitution and the marginal product of labor (labor wedge) contributed to the slowdown of the economy after 1936. This drop in the efficiency wedge might have resulted from financial frictions, whereas the investment wedge might have been caused by financial frictions due to agency costs. Institutional changes in the labor market could serve as a potential explanation for the decline of the labor wedge after 1936. [ABSTRACT FROM AUTHOR]

This paper examines the role of competition in British productivity performance over the period from the late-nineteenth to the early twenty-first century. A detailed review of the evidence suggests that the weakness of competition from the 1930s to the 1970s undermined productivity growth but since the 1970s stronger competition has been a key ingredient in ending relative economic decline. The productivity implications of the retreat from competition resulted in large part from interactions with idiosyncratic British institutional structures in terms of corporate governance and industrial relations. This account extends familiar insights from cliometrics both analytically and chronologically. [ABSTRACT FROM AUTHOR]

Using a novel dataset of regional GDP per worker from 1860 to 2009, this paper analyzes communalities in regional long-term growth trajectories for 24 Swedish regions. Wavelet Analysis and Principal Component Analysis are used to decompose regional growth trajectories and assess the extent that regional growth patterns share common trends and cyclical properties. The study found that regional growth trends show strong common features among groups of regions in Sweden. Natural-resource-rich regions benefited from the First Industrial Revolution. Contrary to regional development in many other European economies, a growth surge in Sweden later benefited virtually the whole country during the Second Industrial Revolution. The countrywide trend of growth slowed in the 1970s when the metropolitan regions became the main growth engines. In mid- and short-term cyclical movements, regions display more heterogeneous growth patterns, and we find evidence of mid-term, sequential lead-lag patterns in regional growth, especially between urban cores and the periphery. [ABSTRACT FROM AUTHOR]

This paper studies the evolution and determinants of spatial inequalities in France. To this end, we use a unique database providing data on value-added, employment, and population over the entire set of French "Départements" in 1860, 1896, 1930, 1982, and 2000. These data cover three sectors: Agriculture, Manufacturing, and Services. Firstly, we confirm the existence of a bell-shaped process of spatial concentration in Manufacturing and Services over time. In contrast, labor productivity has been converging across departments. Secondly, we find considerable agglomeration economies over the whole period. The spatial distribution of these gains is determined mainly by market potential in the first sub-period, 1860-1930, and higher education in the second, 1930-2000. [ABSTRACT FROM AUTHOR]

Abstract: Prior to World War II Japanese economic growth was characterised by episodic ‘long swings,’ low frequency fluctuations in economic growth averaging about 20–25 years in duration. At the aggregate level, these inter-period growth variations dominated both shorter-term fluctuations and longer-term trend acceleration. The paper describes the long swings of the Japanese economy and re-evaluates conventional explanations. [Copyright &y& Elsevier]