作者：Sapienza University Rome
摘要：We present new wage indices for skilled and unskilled construction workers in Italy. Our data avoid multiple issues pestering earlier wages, making our new indices the first consistent ones for early-modern Italy. Our improved wages, obtained from the St. Peter's Church in Rome, consolidate the view that urban Italy began a prolonged downturn during the seventeenth century. They also offer sustenance to the idea that epidemics instigated the decline. Comparison with new construction wages for ...
作者：University of California System; University of California Davis; University of Oxford; Harvard University
作者：State University of New York (SUNY) System; Binghamton University, SUNY
作者：University of Arizona; National Bureau of Economic Research; KU Leuven; KU Leuven; Federal Reserve System - USA; Federal Reserve Bank - Chicago; University of North Carolina; University of North Carolina Greensboro; National Bureau of Economic Research; University of North Carolina; University of North Carolina Greensboro
摘要：The Great Depression of the 1930s involved a severe disruption in the supply of home mortgage credit. This paper empirically identifies a mechanism lying behind this credit crunch: the impairment of lenders' balance sheets by illiquid foreclosed real estate. With data on hundreds of building and loans (B&Ls), the leading mortgage lenders in this period, we find that the overhang of foreclosed real estate explains about 30 percent of the drop in new lending between 1930 and 1935.
作者：University of Oxford; University of London; London School Economics & Political Science
