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David Laidler

could find in 200 years of literature was by Friedman, who put the duration of significant non-neutralities in the wake of monetary shocks at anything between three to ten years (see Blaug 1995, p. 42). But Friedman’s answer came accompanied by his natural unemployment rate hypothesis, and this made Mark uncomfortable. First of all, this hypothesis contradicted David Hume’s apparently affirmative answer to the second of Mark’s two questions about non-neutralities. And second, Friedman’s vagueness about the time interval over which his natural-rate hypothesis was

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Harro Maas

historiography of economics (1991). That is small surprise as the writing of the history of economics was a subject of his enduring interest. Mark Blaug was born on 3 April 1927 in The Hague in a family from Austrian-Jewish origin. He grew up in Amsterdam in the 1930s (where he remembered playing with Anne Frank). His father ran a successful business in raincoats that was located at the Keizersgracht in the city centre, close to the (then) headquarters of the daily newspaper of the communist party. The family left the Netherlands in time. Blaug entered the US via England and

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Edited by Marcel Boumans and Matthias Klaes

This collection of eminent contributions discusses the ideas and works of Mark Blaug, who has made important and often pioneering contributions to economic history, economic methodology, the economics of education, development economics, cultural economics, economic theory and the history of economic thought. Besides these assessments of Blaug’s influence and impact in these fields, this volume also contains a selection of personal portraits which depict him as a colleague, a friend and an opponent. Blaug was also a voracious reader and prolific writer, which is clearly evidenced by the comprehensive bibliography.
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Richard G. Lipsey

had little possibility of servicing them once the initial low payment period was over. By then the sellers had repackaged the mortgages and, with the aid of rating agencies, classified them as low risk and sold them both domestically and internationally. When the higher interest payments kicked in, defaults rose dramatically and the building boom came to an abrupt halt. Many lost their homes while others, even though they could sustain their mortgages, had to cut other spending. The resulting collapse in demand was followed by a major recession. Two explanations of

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Bruno S. Frey and Lasse Steiner

books devoted to informing people on what properties and landscapes they deem to be important, such as 1000 Places to See Before You Die. To a significant extent, the corresponding lists overlap with the World Heritage List. Many countries have extensive national lists of cultural and natural heritage sites to be preserved, such as the Statutory List of Buildings of Special Architectural or Historic Interest from English Heritage, the National Heritage List in Australia or the Federal Inventory of Landscapes and Natural Monuments in Switzerland.2 However, these lists

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Federico Revelli

investors’ financing constraints (Fazzari et al., 1988) or that they might simply be reflected in higher interest rates or higher prices of capital goods when the supply of the latter is fixed or highly inelastic in the short run (Hassett and Hubbard, 1998). Moreover, their effectiveness depends on whether incentives are permanent or temporary in nature (Auerbach, 1989a), and on whether investors are uncertain about their duration (Pindyck, 1988; Hassett and Metcalf, 1999). Tax incentives for cultural heritage conservation  ­133 Interestingly, the literature on ITCs for

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Francesca Cominelli and Xavier Greffe

response from banks is positive to the extent that they know how to judge the quality of projects and select those that are likely to have a higher survival rate, but taking a bank loan reduces the probability of their survival because they have to pay interest on the loan. It would therefore be advisable to establish a partnership between the private and public local sectors by giving the private sector a major role in the analysis of projects, but bring in public funding to boost their sustainability. A TRANSMISSION POLICY The problem of transmission is evidently

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Françoise Benhamou

certain way, to humanity: UNESCO defines world heritage as reflecting ‘the natural and cultural wealth that belongs to all of humanity [. . .] and symbolizing the consciousness of States and peoples of the significance of these places and reflects their attachment to collective ownership and to the transmission of this heritage to future generations’ (UNESCO, 2010).3 The idea of a common patrimony implies a common concern and a common care to ensure its preservation. THE TOOLS OF PUBLIC INTERVENTION A mere typology relies on a fourfold opposition: subsidies vs

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John H. Stubbs

information to the architectural conservation planning process. Who created it and why? What were the original designer and builder’s intentions? How and why were any modifications made? Such questions should be asked and answered early on. At the same time, it is necessary to develop an understanding of the pathologies (threats) and possible rates of deterioration that are affecting the structure in order to design effective conservation solutions. Accurate answers to the questions of both ‘What to do?’ and ‘How to do it?’ are important because a building, or a remnant of

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Edited by Ilde Rizzo and Anna Mignosa

Cultural heritage is a complex and elusive concept, constantly evolving through time, and combining cultural, aesthetic, symbolic, spiritual, historical and economic values. The Handbook on the Economics of Cultural Heritage outlines the contribution of economics to the design and analysis of cultural heritage policies and to addressing issues related to the conservation, management and enhancement of heritage.