2011

最新文章

• Bank-Specific Default Risk in the Pricing of Bank Note Discounts AI翻译
  作者：Colgate University
  摘要：Bank notes were the largest component of the antebellum money supply despite losses as high as 5 percent in some years. Using a comprehensive bank-level panel of note discounts in New York City and Philadelphia, I explain this contradiction by showing that the secondary market reduced losses by accurately discounting notes based on their individual risk of default. Note discounts were almost exclusively sensitive to those factors which increased a bank's probability of default: specie suspensi...
• On the Economic Consequences of the Peace: Trade and Borders After Versailles AI翻译
  作者：University of London; London School Economics & Political Science
  摘要：The First World War radically altered the political landscape of Central Europe. The new borders after 1918 are typically viewed as detrimental to the region's economic integration and development. We argue that this view lacks historical perspective. It fails to take into account that the new borders followed a pattern of economic fragmentation that had emerged during the late nineteenth century. We estimate the effects of the new borders on trade and find that the treatment effects of these ...
• Fixed Ideas of Money: Small States and Exchange Rate Regimes in Twentieth-Century Europe AI翻译
  作者：Norwegian School of Economics (NHH)
• Cooking in Other Women's Kitchens: Domestic Workers in the South, 1865-1960. AI翻译
  作者：Vanderbilt University
• The Ideologies of Taxation. AI翻译
  作者：University of Michigan System; University of Michigan
• Harvest Shortfalls, Grain Prices, and Famines in Preindustrial England AI翻译
  作者：Queens University Belfast; University College Dublin
  摘要：The frequency of bad harvests and price elasticity of demand are measured using new data on English grain yields 1268-1480 and 1750-1850 and a revised price series. The analysis shows that major harvest shortfalls were a significant component of most historical subsistence crises, as back-to-back shortfalls were of the worst famines. Although serious harvest shortfalls long remained an unavoidable fact of economic life, by c.1800 yields had become less variable and prices less harvest sensitiv...
• General economic history of Mexico: From the colony to our days AI翻译
  作者：Rice University
• Interest Reductions in the Politico-Financial Nexus of Eighteenth-Century England AI翻译
  作者：Boston University; Paris School of Economics; Universite PSL; Ecole Normale Superieure (ENS)
  摘要：In the 1730s and 1750s the English government proposed to refinance the redeemable debt by lowering the interest rate. In the ensuing coordination game among creditors, large investors like the Bank of England could block the policy change by demanding cash. Using 4 percent and 3 percent annuities prices to analyze market expectations, this article studies two refinancing episodes with very different fates. Lord Barnard failed in 1737 because his terms were too strict and financial agents indu...
• Economic Transformations: General Purpose Technologies and Long-Term Economic Growth AI翻译
  作者：University System of Maryland; University of Maryland College Park
• The Spinning Jenny: A Fresh Look AI翻译
  作者：University of Oxford