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作者：University of Vermont
摘要：Peru's experience with sovereign debt during the guano boom is one of the most remarkable in the nineteenth century. Despite the country's ongoing political instability and poor capital market reputation, the price of Peruvian bonds soared shortly after settlement in 1849, and the country enjoyed relatively low credit risk until the 1870s. This article discusses the incentives Peru and its creditors faced, and explains how Peru's extraordinary performance in financial markets was founded on it...
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作者：Clemson University; National Bureau of Economic Research
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作者：University Hohenheim
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作者：Boston University; University of Minnesota System; University of Minnesota Twin Cities
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作者：Columbia University; Tulane University
摘要：We investigate determinants of slave family discounts in the New Orleans slave market. We find large price discounts for families unrelated to scale effects, childcare costs, legal restrictions, or transport costs. We posit that because family members voluntarily cared for each other, sellers sometimes found it advantageous to keep families together (when families included needy or dependent members). Evidence from ship manifests carrying slaves for sale in New Orleans provides direct evidence...
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作者：Trinity College Dublin
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作者：Stanford University
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作者：University of Colorado System; University of Colorado Boulder; Allegheny College; Allegheny College
摘要：The henequen boom coincided with the rule of Porfirio Diaz (1876-1911). During the boom, many Maya in Yucatan lost their rights to land and moved to henequen haciendas. As part of the implicit contract with hacendados, peons accumulated large debts at the time of marriage, most of which were never repaid. We argue that the debts bound workers to the hacienda as part of a system of paternalism and that more productive workers incurred more debt. We examine the institutional setting in which deb...
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作者：Brown University; National Bureau of Economic Research
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作者：Colby College
