2010

最新文章

• The Sustainable Debts of Philip II: A Reconstruction of Castile's Fiscal Position, 1566-1596 AI翻译
  作者：University of British Columbia; Pompeu Fabra University
  摘要：The defaults of Philip II have attained mythical status as the origin of sovereign debt crises. We reassess the fiscal position of Habsburg Castile, deriving comprehensive estimates of revenue, debt, and expenditure from new archival data. The king's debts were sustainable. Primary surpluses were large and rising. Debt-to-revenue ratios remained broadly unchanged during Philip's reign. Castilian finances in the sixteenth century compare favorably with those of other early modern fiscal states ...
• The Procyclical Behavior of Total Factor Productivity in the United States, 1890-2004 AI翻译
  作者：Field, Alexander J.
• Land Endowments, Child Labor, and the Development of Public Schooling: Evidence from the Early Twentieth-Century United States AI翻译
  作者：University of California System; University of California Berkeley
• Childhood Health and Human Capital Formation: New Evidence from Genetic Brothers in Arms AI翻译
  作者：University of California System; University of California Davis
• The Standard of Living in the Colonies and States of the Middle Atlantic Region Before 1800: Evidence from a Sample of Widows' Allowances AI翻译
  作者：University of Kansas; National Bureau of Economic Research; University of Southern California
• Do Local Institutions Affect All Foreign Direct Investors in the Same Way? Evidence from the Interwar Chinese Textile Industry AI翻译
  作者：University of California System; University of California Los Angeles
• Do Patent Pools Encourage Innovation? Evidence from the Nineteenth-Century Sewing Machine Industry AI翻译
  作者：DePaul University; Stanford University; National Bureau of Economic Research
  摘要：Members of a patent pool agree to use a set of patents as if they were jointly owned by all members and license them as a package to other firms. This article uses the example of the first patent pool in U. S. history, the Sewing Machine Combination (1856-1877) to perform the first empirical test of the effects of a patent pool on innovation. Contrary to theoretical predictions, the sewing machine pool appears to have discouraged patenting and innovation, in particular for the members of the p...
• Asymmetric Information, Market Power, and the Underpricing of New Stock Issues in Germany, 1882-1892 AI翻译
  作者：Johns Hopkins University
  摘要：Investors in new stock issues in Germany in the 1880s experienced low spreads between the price they paid for stock and the price at which they could sell the stock in the market. Stock issuing companies paid substantial fees to underwriting banks, and these costs increased with the underwriter's market share. Bank's faced lower issuing costs than did nonfinancial firms. These patterns are consistent with a situation in which underwriters exploited their access to better information (agency pr...
• From Intangible Capital to Institutional Agencies: The Ideas of Human and Social Capital and Their Demise in German Historical Economics AI翻译
  作者：University of Jyvaskyla
• Industrial Development in Postwar Japan AI翻译
  作者：University of Texas System; University of Texas Austin