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作者:European University Institute
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作者:Stanford University
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作者:University of London; London School Economics & Political Science
摘要:This article reexamines theories previously advanced to explain Lancashire's slow adoption of ring spinning. New cost estimates show that although additional transport costs and technical complementarities reduced ring adoption rates, these supply-side constraints were not dominant. Instead what mattered most were demand-side factors. Lancashire produced far more fine yams than other countries, and this yam was better spun on mules. Furthermore, Lancashire had a sizeable export trade in yarn, ...
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作者:University of California System; University of California Davis
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作者:University of California System; University of California Santa Barbara
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作者:University System of Maryland; University of Maryland Baltimore County
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作者:Texas Christian University
摘要:The lending portfolio of a London banker is analyzed to better understand the relationship between public and private finance during England's Financial Revolution. The Glorious Revolution's political settlement appears to have reduced the risk premium on sovereign debt; but it seems to have raised, not lowered, rates on private debt. Two, explanations for these higher private rates are suggested. During the war years 1690-1697, the government's improved capacity to borrow seems to have crowde...
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作者:California Institute of Technology; University of Rochester
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作者:Yale University
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作者:Vanderbilt University; Harvard University
摘要:The relative price of capital goods, an important component of the user cost of capital, has rarely been incorporated into comparative studies of long-run capital accumulation. This article constructs and explores a data set for capital-goods and equipment prices covering the 1870-1950 period for 11 OECD countries. We document substantial differences across countries in the relative prices of capital goods, but also find convergence in those prices over time. Finally, we show that relative cap...