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作者:Massachusetts Institute of Technology (MIT)
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作者:University of Oxford
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作者:University of Oxford
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作者:Middle East Technical University; University of Arizona
摘要:Turkey imposed a controversial tax on wealth to finance the army in 1942. This tax was arbitrarily assessed and fell disproportionately on non-Muslim minorities. We study the heterogeneous impact of this tax on firms by assembling a new dataset of all enterprises in Istanbul between 1926 and 1950. We find that the tax led to the liquidation of non-Muslim-owned firms, which were older and more productive, reduced the formation of new businesses with non-Muslim owners, and replaced them with fra...
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作者:Hansen, Bradley A.
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作者:National Tsing Hua University
摘要:Based on information related to the Stop of Exchequer, 1672, this article calculates the current yields of sovereign debt and examines the effect of the Glorious Revolution on the government's credibility. The results show that even though the interest payment had not been paid for years, when Parliament authorized the resumption of payment, the current yields fell not only below the level when the interest payment was made by Charles II, but quickly converged to the rates of return of alterna...
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作者:California State University System; San Francisco State University
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作者:[Anonymous]
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作者:Vrije Universiteit Brussel
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作者:University of Tokyo; Keio University; University of Bern
摘要:The Great Kanto Earthquake occurred on 1 September 1923 and inflicted serious damage on Yokohama City. About 90 percent of the factories in Yokohama City were burnt down or completely destroyed. However, these manufacturing industries appear to have swiftly recovered in the aftermath of the damage. This article investigates the role of creative destruction due to the Great Kanto Earthquake. Using firm-level data on capital (horsepower of motors) before and after the earthquake, we find substan...