3期

最新文章

• Images from the Arsenal of Democracy AI翻译
  作者：Rutgers University System; Rutgers University New Brunswick
• The Price of Legal Institutions: The Beratl Merchants in the Eighteenth-Century Ottoman Empire AI翻译
  作者：University of Arizona
  摘要：In the eighteenth century, European embassies in the Ottoman Empire started selling exemption licenses called berats, which granted non-Muslim Ottomans tax exemptions and the option to use European law. I construct a novel price panel for British and French licenses based on primary sources. The evidence reveals that prices were significantly high and varied across countries. Agents acquired multiple berats to enhance their legal options, which they exploited through strategic court switching....
• The Economic and Social History of Brazil since 1889 AI翻译
  作者：Stanford University
• The Evolution of Bank Supervisory Institutions: Evidence from American States AI翻译
  作者：Santa Clara University; Colgate University
  摘要：We use a novel data set spanning 1820-1910 to assess the factors leading to the creation of formal bank supervisory institutions across American states. We show that it took more than a century for all states to create separate agencies tasked with monitoring the safety and soundness of banks. State legislatures initially pursued cheaper regulatory alternatives, such as double liability laws; however, banking distress at the state level as well as the structural shift from note-issuing to depo...
• Keeping the wheel in motion: Trans-Atlantic Credit Terms, Slave Prices, and the Geography of Slavery in the British Americas, 1755-1807 AI翻译
  作者：Johns Hopkins University
  摘要：This article uses a new dataset of 330 slaving voyages to examine terms of credit issued for British American slave sales between 1755 and 1807. It shows that credit terms consistently varied between American colonies, and that slave ship captains considered these differences when electing where to land enslaved Africans. Our dataset also shows that credit terms were highly erratic, especially in the last quarter of the century, contributing to both surges and collapses in the slave trade to i...
• Mutual Assistance between Federal Reserve Banks: 1913-1960 as Prolegomena to the TARGET2 Debate AI翻译
  作者：University of California System; University of California Berkeley; European Central Bank; University of California System; University of California Irvine
  摘要：This article reconstructs the history of mutual assistance among Federal Reserve Banks. We present data on accommodation operations through which Reserve Banks mutualized gold reserves in emergency situations between 1913 and 1960. Reserve sharing was important in response to liquidity crises and bank runs. Such cooperation was essential for the cohesion of the U.S. monetary union. But fortunes could change, with emergency recipients of gold becoming providers. Because imbalances did not endle...
• Financing Long-Distance Trade: The Joint Liability Rule and Bills of Exchange in Eighteenth-Century France AI翻译
  作者：University of Michigan System; University of Michigan
  摘要：Over time, international trade expanded beyond the reach of an individual's personal networks. How was long-distance trade among strangers financed without using banks? I argue that the joint liability rule enabled the medieval bill of exchange to become a major form of payment and credit in the early modern period which in turn supported an unparalleled expansion of trade. This article empirically examines the role that joint liability played in ameliorating fundamental information problems i...
• Landschaften as Credit PurveyorsThe Example of East Prussia AI翻译
  作者：Occidental College
  摘要：Landschaften were cooperative mortgage associations that emerged in Prussia after the Seven Years War (1756-1763) to support the Prussian landed nobility. Landschaften issued covered mortgage bonds, called Pfandbriefe, which helped re-capitalize the Prussian estates. Relying on mortgage data for 554 estates, this article provides a detailed look at one of these institutionsthe Landschaft of East Prussia. The article offers insights into the self-selection of participants and the distribution o...
• Technical Change, Non-Tariff Barriers, and the Development of the Italian Locomotive Industry, 1850-1913 AI翻译
  作者：University of Rome Tor Vergata; Scuola Superiore Sant'Anna
  摘要：The locomotive industry was one of the relatively sophisticated high tech sectors in which Italy, a late industrializer, was successful before 1913. Using technical data on the performance of different vintages of locomotives, we construct a new industry-level index of technical change. We also study the impact of different policy instruments (import duties, non-tariff trade barriers, and other discretionary interventions) in shaping the development of the industry. Our reassessment reveals no...
• The Rise of Effective States in Europe AI翻译
  作者：University of Michigan System; University of Michigan
  摘要：This review article examines the development of state capacitythe extractive and productive power of states in European history. To explain the historical evolution of state capacity, I focus on the role of political innovations. I relate state capacity improvements to long-run economic growth and the establishment of twentieth-century welfare states. The article concludes with historical lessons for developing nations today.