作者：Indiana University System; Indiana University Bloomington
作者：University of Warwick
摘要：There are currently two ways of estimating relative levels of per capita income back to the nineteenth century. The most commonly adopted approach, popularized in particular by Angus Maddison and labeled long-span estimates by Marianne Ward and John Devereux, is to use time-series projection from a recent benchmark.(1) The alternative procedure, labeled direct estimates by Ward and Devereux, is to use direct benchmark estimates for earlier years. Ward and Devereux provide some new direct estim...
作者：University of Missouri System; University of Missouri Saint Louis
作者：Northwestern University
摘要：This article combines a game-theoretic framework and a comparative analysis to study the impact of the Great Depression on private welfare capitalism. Recharacterizing welfare capitalism as an implicit-contract equilibrium, the article documents parallel institutional developments in the United States and Japan in the 1920s and the process of bifurcation thereafter. In the United States, the breach of contract by major employers induced by the depression led to the rise of explicit contracts a...
