-
作者:University of Munster
摘要:We develop a compromise estimate of the German Net National Product for the years 1851-1913 based on four estimates from Hoffmann (1965) and Hoffmann and Muller (1959) by recalculating industrial production, investment, home and foreign capital income. Because differences remain during the early decades, we compute a weighted average compromise series. Economic activity is shown to be higher than the older estimates suggest. The average growth rate is lower. The average business cycle lasted f...
-
作者:Colby College
-
作者:University of Houston System; University of Houston
-
作者:Vanderbilt University
-
作者:Vanderbilt University
-
作者:University of British Columbia
-
作者:University System of Ohio; Baldwin Wallace University
-
作者:Carnegie Mellon University
-
作者:University of Connecticut
摘要:Risk and transaction costs often provide competing explanations of institutional outcomes. In this article we argue that they offer opposing predictions regarding the assignment of fixed and variable taxes in a multi-tiered governmental structure. Although the central government can pool regional risks from variable taxes, local governments can measure variable tax bases more accurately. Evidence on tax assignment from the mid-sixteenth-century Ottoman Empire supports the transaction cost expl...
-
作者:University of Wisconsin System; University of Wisconsin Madison