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作者：University of Oxford; University of Oxford
摘要：While the pre-1914 mass migrations have been widely studied, the related pattern of emigrants' remittances is still largely untouched. This article aims at filling this gap by analyzing the contribution of remittances to financial stability. In the optimum currency area theory, labor mobility can case the adjustment mechanism for countries under fixed exchange rate regimes. We confirm this claim by showing that emigrants' remittances reduced the incidence of financial disturbances among a samp...
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作者：Bar Ilan University
摘要：Modem Currency originates in the inconvertible, legal tender paper money that Massachusetts devised in 1690. The circumstances that led to its creation are more complex than the typical story of wartime specie shortage. Due to temporary political constraints of that turbulent period, the currency could be neither backed by land nor imposed on anyone, as was then standard. Instead, it had to be disguised from England as a simple, private-seeming IOU. By pleasing both its pay-demanding troops an...
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作者：University System of Ohio; Ohio State University; National Bureau of Economic Research
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作者：University of Copenhagen
摘要：This study contributes to a revised picture of nineteenth-century bilateralism. Employing a new disaggregated data set, it argues that bilateral treaties did not implement general free trade, but instead reduced tariffs unevenly through commodity-specific preferences, especially favoring manufactured goods. Gravity model estimates show that specific liberalizations increased exports of corresponding items, but not overall trade. Exporters from countries whose governments used bilateralism stra...
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作者：University of Leeds
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作者：Universidad Carlos III de Madrid
摘要：Between 1850 and 2000 Spain's real output and labor productivity grew at average rates of 2.5 and 2.1 percent. The sources of this long-run growth are investigated here for the first time. Broad capital accumulation and efficiency-term growth. Factor accumulation gains appear as complementary in Spain's long dominated long-run growth up to 1950, while total factor productivity (TFP) led thereafter and, especially, during periods of growth acceleration. The main spurts in TFP and capital coinci...
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作者：Massachusetts Institute of Technology (MIT)
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作者：University of Colorado System; University of Colorado Boulder
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作者：North Carolina State University
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作者：University of Rochester
