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作者：Yale University
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作者：Yale University
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作者：Clemson University
摘要：This article analyses a new series of prices and wages stretching back to 1827 for the provinces of the Habsburg Empire. These real wage series are the first continuous and consistent indicator of changing living standards in this part of Europe during industrialization. They show that while the living standards stagnated throughout the monarchy prior to 1850s, the West ( unlike the East) was able to launch onto a path of continuous growth in the second half of the century. The empire experien...
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作者：University of California System; University of California Davis
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作者：Middlebury College
摘要：Using a new data set, this article presents new evidence on inequality in Latin America for the nineteenth century and studies the effects of factor endowments and trade on inequality. Recent research has highlighted the link between the colonial origins of inequality and its persistence in Latin America. We find that inequality varied substantially throughout the century and across the region. We identify the impact of changing factor endowments and trade on inequality using a simple theoreti...
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作者：Leech, Brian
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作者：University of Cambridge
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作者：University of Amsterdam; University of Amsterdam; Tinbergen Institute
摘要：This article shows how asymmetric information shaped slavery by determining the likelihood of manumission. A theoretical model explains the need to offer positive incentives to slaves working in occupations characterized by a high degree of asymmetric information. As a result, masters freed ( and, more generally, rewarded) slaves who performed well. The model's implications are then tested against the available evidence: both in Rome and in the Atlantic world, slaves with high asymmetric infor...
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作者：Universidad de los Andes (Colombia)
摘要：Construction of the first transcontinental railroad, financed with large federal subsidies, is an important event in American history. Were the subsidies necessary to induce private investment in the railroad? The ex-ante investment decision examined uses contemporary reports and a simulation model to show that investors expected the railroad to be profitable. Evidence also shows that the railroad created political conflicts in Congress between the North and South. The secession removed the So...
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作者：Utrecht University
摘要：Secondary markets for public debt in Europe's most advanced preindustrial markets, Britain and the Dutch Republic, differed markedly. They were liquid in Britain, but not in the Republic. This article demonstrates that economic geography determined the shape of primary markets and the secondary markets that were based on them. Configuring financial markets in preindustrial Europe was thus not a uniform process leading to one ideal-type market structure. The development of markets with advanced...
