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作者:Sussman, Nathan
摘要:A novel series of interest rates paid by the Corporation of London shows that interest rates in London declined by 350 basis points during the seventeenth century. The decline followed a similar pattern in Europe. Records from the Corporation's archive provide evidence for financial development: an increase in the number and volume of debt instruments, an increase in the number of lenders, and the development of a secondary market. Econometric analysis establishes that increasing the debt inst...
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作者:New York University; New York University Abu Dhabi
摘要:This paper investigates whether high borrowing costs deterred investment in sanitation infrastructure in late nineteenth-century Britain. Town Councils had to borrow to fund investment, with considerable variation in interest rates across towns and over time. Panel regressions, using annual data from more than 800 town councils, indicate that higher interest rates were associated with lower levels of infrastructure investment between 1887 and 1903. Instrumental variable regressions show that f...
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作者:Hebrew University of Jerusalem
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作者:Universite de Toulouse; Universite Toulouse 1 Capitole
摘要:I use new evidence from servant contracts, 1610-1890, to estimate male farm wages and the length of the work year in Japan. I show Japanese laborers were surprisingly poor and could only sustain 2-3 adults relative to 7 adults for the English. Japanese wages were the lowest among pre-industrial societies and this was driven by Malthusian population pressures. I also estimate the work year and find peasants worked 325 days a year by 1700, predating the industrious revolution in Europe. The find...
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作者:University of Melbourne
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作者:University of Konstanz; IZA Institute Labor Economics; Humboldt University of Berlin
摘要:This paper documents the persistence of Southern slave owners in political power after the American Civil War. Using data from Texas, we show that former slave owners made up more than half of all state legislators until the late 1890s. Legislators with slave-owning backgrounds were more likely to be Democrats and voted more conservatively even conditional on party membership. A county's propensity to elect former slave owners was positively correlated with cotton production, but negatively wi...
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作者:Vanderbilt University; National Bureau of Economic Research; Boston University; University of Michigan System; University of Michigan
摘要:During the nineteenth century, U.S. manufacturers shifted away from the hand labor mode of production, characteristic of artisan shops, to machine labor, which was increasingly concentrated in steam-powered factories. This transition fundamentally changed production tasks, jobs, and job requirements. This paper uses digitized data on these two production modes from an 1899 U.S. Commissioner of Labor report to estimate the frequency and impact of the use of inanimate power on production operati...
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作者:Indiana University System; Indiana University Bloomington; University System Of New Hampshire; Keene State College; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
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作者:University System of Maryland; University of Maryland Baltimore County
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作者:University of Nottingham