In a recent NEP-HIS Blog post, Chris Colvin reviews a paper by Mohamed Saleh (Toulouse) which looks at the relationship between socioeconomic status and religion. One of the big debates in this literature is whether religion results in better socioeconomic status or whether socioeconomic status determines religiosity. Saleh's paper looks at the effect of a tax on non-Muslims in Egypt which was imposed from 640 until 1856. He finds that poor Copts converted to Islam to avoid the tax whereas wealthier Copts didn't. This may explain why non-Muslims are traditionally better off than the Muslim majority in Muslim countries today. Saleh's paper is available here.
Daron Acemoglu, Simon Johnson, Amir Kermani, James Kwak and Todd Mitton have written a paper on whether firms connected to Timothy Geithner benefited from these connections. They do so by looking at how stocks of these firms reacted to the announcement that he was a nominee for Treasury Secretary in November 2008. They find that there were large abnormal returns for connected firms. Below is the paper's abstract and the full paper is available here . The announcement of Timothy Geithner as nominee for Treasury Secretary in November 2008 produced a cumulative abnormal return for financial firms with which he had a connection. This return was about 6% after the first full day of trading and about 12% after ten trading days. There were subsequently abnormal negative returns for connected firms when news broke that Geithner's confirmation might be derailed by tax issues. Excess returns for connected firms may reflect the perceived impact of relying on the advice of a small ne...