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作者:Brown University
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作者:Montana State University System; Montana State University Bozeman
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作者:Yale University
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作者:University of Minnesota System; University of Minnesota Twin Cities
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作者:Geraghty, Ryan M.
摘要:The article employs a general equilibrium model to describe Italy's response to commodity and factor market integration during the expansion of the Roman Empire. This novel approach constructs a comprehensive story of the Italian economy that corroborates established developments and sheds light on controversial and unanswered questions. The success of the model supports arguments that Romans were rational economic actors and that the Roman economy was a well-integrated market system.
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作者:Texas Christian University
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作者:California Institute of Technology; University of Illinois System; University of Illinois Urbana-Champaign; Rutgers University System; Rutgers University New Brunswick
摘要:During the 1920s the New York Stock Exchange's position as the dominant American exchange was eroding. Costs to customers, measured as bid-ask spreads, spiked when surging inflows of orders collided with the constraint created by a fixed number of brokers. The NYSE's management proposed and the membership approved a 25 percent increase in the number of seats by issuing a quarter-seat dividend to all members. An event study reveals that the aggregate value of the NYSE rose in anticipation of im...
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作者:University of Rochester; University of California System; University of California Los Angeles
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作者:Purdue University System; Purdue University
摘要:This article examines changes in institutions that protected property rights in the Alps between the thirteenth and the nineteenth century and, in particular, alternative management systems adopted for the common pastures and forests in about 200 communities. Over time, private-order institutions in the form of charters replaced informal arrangements sustained by the long-run interaction among villagers. Although costly to run, the charters accomplished several tasks that increased resource us...
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作者:Queens University - Canada; Queens University - Canada
摘要:The Canadian economy, already wealthy, diverse, and relatively industrial at the dawn of the twentieth century, had not yet outgrown its reliance on resource-intensive production. Empirical evidence indicates that the exploitation of Canada's natural resource endowment made direct and indirect contributions to the size and efficiency of the twentieth-century domestic economy. I conclude that the concentration of capital and labor in resource industries did not constrain the rate of change of C...