作者：National Bureau of Economic Research
摘要：In the early 1910s state governments debated the private versus public underwriting. of workers' compensation risk. The choices they made established the existing system today and set the stage for later debates over the government's underwriting of unemployment, health, and disability risks. This article offers both quantitative and case-study analyses of states' original choices between public and private insurance. Monopoly state funds were adopted in some states because of an unusual combi...
作者：Johns Hopkins University; University of Minnesota System; University of Minnesota Twin Cities
摘要：We establish several facts about medieval monetary debasements: they were followed by unusually large minting volumes and by increased seigniorage; old and new coins circulated concurrently; and, at least some of the time, coins were valued by weight. These facts constitute a puzzle because debasements provide no additional inducements to bring coins to the mint. On theoretical and empirical grounds, we reject explanations based on by-tale circulation, nominal contracts, and sluggish price adj...
