作者：University of California System; University of California Davis
作者：Claremont Colleges; Scripps College; Claremont Colleges; Claremont Graduate University; Claremont McKenna College
摘要：In April 1906 the San Francisco earthquake and fire caused damage equal to more than I percent of GNP. Although the real effect of this shock was localized, it had an international financial impact: large amounts of gold flowed into the country in autumn 1906 as foreign insurers paid claims on their San Francisco policies out of home funds. This outflow prompted the Bank of England to discriminate against American finance bills and, along with other European central banks, to raise interest ra...
作者：University of California System; University of California San Diego
作者：Harvard University; Instituto Tecnologico Autonomo de Mexico
摘要：All sovereign governments face a commitment problem: how can they promise to honor their own agreements? The standard solutions involve reputation or political institutions capable of tying the government's hands. Mexico's government in the 1880s used neither solution. It compensated its creditors by enabling them to extract rents from the rest of the economy. These rents came through special privileges over banking services and the right to administer federal taxes. Returns were extremely hig...
作者：Universite de Montreal
摘要：This article constructs new measures of worktime for Europe, North America, and Australia, 1870-1913. Great Britain began with the shortest work year and Belgium the longest. By 1913 certain continental countries approached British worktimes, and, consistent with recent findings on real wages, annual hours in Old and New Worlds had converged. Although globalization did not lead to a race to the bottom of worktimes, there is only partial evidence of a race to the top. National work routines, th...
