作者：Queens University - Canada
摘要：Indians depleted the beaver, yet we do not understand why. We analyzed the pattern and determinants of beaver exploitation in the hinterlands of three Hudson's Bay Company posts. Simulating beaver population, we found declining beaver stock within each hinterland, but overharvesting in only two. Central to this process was the Company reaction to French competition. Managers raised prices in the Albany and York hinterlands, and in response the Indians increased their harvests. Churchill, which...
作者：WOLCOTT, S
摘要：The textbook explanation for Britain's high unemployment in the 1920s is that the return to gold at $4.86 left the currency overvalued. Recent estimates suggest that an 11 percent devaluation would have eliminated roughly half the unemployment in 1925. This article questions the validity of that conclusion. It measures the power of exchange rate devaluations to decrease unemployment in the context of sectorally distinct labor markets. The results suggest that though a devaluation would have be...
