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作者：Queens University Belfast
摘要：This article investigates the impact of the socioreligious segregation of Dutch society on the asset allocation choices of rural bankers and the withdrawal behavior of their depositors during the early 1920s. Results suggest that cooperatively-owned Raiffeisen banks for both Catholic and Protestant minority groups could limit their exposure to a debt-deflation crisis, despite operating more precarious balance sheets than banks for majorities. Business histories demonstrate how strict membershi...
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作者：University of London; London School Economics & Political Science
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作者：University of Michigan System; University of Michigan; Seoul National University (SNU)
摘要：An important unknown in understanding the impact of climate change is the scope of adaptation, which requires observations on historical time scales. We consider how weather across U.S. history (1860-2000) has affected various measures of productivity. Using cross-sectional and panel methods, we document significant responses of agricultural and individual productivity to weather. We find strong effects of hotter and wetter weather early in U.S. history, but these effects have generally been a...
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作者：University of Virginia
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作者：Autonomous University of Barcelona; Eberhard Karls University of Tubingen; Leibniz Association; Ifo Institut
摘要：We trace the development of human capital in today's Senegal, Gambia, and Western Mali between 1770 and 1900. European trade, slavery, and early colonialism were linked to human capital formation, but this connection appears to have been heterogeneous. The contact with the Atlantic slave trade increased regional divergence, as the coast of Senegambia developed more quickly than inner areas. This pattern was affected by French early colonialism and by the reaction of different West African popu...
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作者：Yale University
摘要：In 1966, after more than 700 years, the irrigation community in Mula (Spain) switched from auctions to quotas to allocate water from its river. This change happened in the absence of either political or technological change. Quotas were more efficient, but required that farmers own water property rights. I develop a model in which poor farmers cannot credibly commit to purchase water rights. I show that empirical evidence on savings and prices is consistent with this interpretation. A temporar...
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作者：Bank of England; University of Pennsylvania
摘要：We gather a new database to conduct the first historically informed study of the importance of liquidity and credit for government bonds between 1880 and 1910. We argue that colonial and sovereign debt markets were segmented owing to differences in underlying information asymmetries. The result was heterogeneous pricing of colonial and sovereign debt, and different market microstructures and clienteles, themselves influenced by political, institutional, and financial arrangements. We find that...
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作者：University System of Ohio; Bowling Green State University
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作者：Northeastern University
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作者：Stanford University
摘要：I argue that Europe's political fragmentation interacted with her political innovations-self-governing cities and national parliaments-to facilitate economic liberty, which in turn unleashed faster and more inter-connected urban growth. Examining urban growth over the period 600-1800 CE throughout Eurasia, I show that inter-city growth correlations were positive and significant only in Western Europe after 1200 CE. Within Western Europe, I show that growth correlations were greatest in the mos...
