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Explorations in Economic History最新文献

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How rich were the rich? An empirically-based taxonomy of pre-industrial bases of wealth 富人有多富？基于经验的工业化前财富基础分类法
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-05-03 DOI: 10.1016/j.eeh.2024.101592
Branko Milanovic
{"title":"How rich were the rich? An empirically-based taxonomy of pre-industrial bases of wealth","authors":"Branko Milanovic","doi":"10.1016/j.eeh.2024.101592","DOIUrl":"https://doi.org/10.1016/j.eeh.2024.101592","url":null,"abstract":"<div><p>The paper uses fifty-three social tables, ranging from Greece in 330 BCE to Mexico in 1940 to estimate the share and level of income of the top 1 % in pre-industrial societies. The share of the top 1 % covers a vast range from around 10 % to more than 40 % of society's income and does not always move together with the estimated Gini coefficient and the Inequality Extraction Ratio. I provide a taxonomy of pre-industrial societies based on the social class and type of assets (land, control of government, merchant capital, citizenship) that are associated with the top classes as well as lack of assets associated with poverty.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"93 ","pages":"Article 101592"},"PeriodicalIF":2.3,"publicationDate":"2024-05-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140893398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Courts, legislatures, and evolving property rules: Lessons from eminent domain 法院、立法机构和不断演变的财产规则：征用权的经验教训
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-03-14 DOI: 10.1016/j.eeh.2024.101581
Robert K. Fleck, F. Andrew Hanssen
{"title":"Courts, legislatures, and evolving property rules: Lessons from eminent domain","authors":"Robert K. Fleck,&nbsp;F. Andrew Hanssen","doi":"10.1016/j.eeh.2024.101581","DOIUrl":"10.1016/j.eeh.2024.101581","url":null,"abstract":"<div><p>This paper examines judicial and legislative modifications to a specific property rule, the benefit offset, which was widely employed by railroad companies during the 19th century as a way to reduce required compensation for land taken through eminent domain. At the beginning of the railroad boom, all states allowed the benefit offset; by the end of the boom, most states had banned it, some via court decisions, others via legislation. Consistent with a simple model in which a court and a legislature act as (imperfect) agents of the public: 1) challenges to the benefit offset generally began with litigation; 2) all states that litigated the offset eventually restricted it, but not always through litigation; 3) where courts chose to allow the offset, legislation restricted it, often with substantial lags; 4) those lags tended to be longer (i.e., more time passed between litigation and subsequent legislation) when the litigation efforts took place early in the track building process (at which time the offset was more likely to be socially valuable); 5) states that never banned the benefit offset were those where landowners were unlikely to have ever been harmed by the practice (principally western states with vast expanses of public and private land). The model and historical evidence illustrate how a system that grants both the court and the legislature the power to alter property rules can establish a beneficial redundancy that increases the value of modifiable property rules.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"93 ","pages":"Article 101581"},"PeriodicalIF":2.3,"publicationDate":"2024-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140182459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Contagion of fear: Panics, money, and the Great Depression 恐惧的传染：恐慌、货币和大萧条
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-03-12 DOI: 10.1016/j.eeh.2024.101589
Fabrizio Almeida Marodin , Kris James Mitchener , Gary Richardson
{"title":"Contagion of fear: Panics, money, and the Great Depression","authors":"Fabrizio Almeida Marodin ,&nbsp;Kris James Mitchener ,&nbsp;Gary Richardson","doi":"10.1016/j.eeh.2024.101589","DOIUrl":"10.1016/j.eeh.2024.101589","url":null,"abstract":"<div><p>Despite its centrality in debates about the causes and consequences of the Great Depression, banking panics’ impact on the money supply during this period remains a subject of ongoing debate. Before 1936, the Fed's decentralized structure meant that panics impacted money creation regionally while monetary impulses impacted bank stability nationally. We use this structure and newly digitized data to construct monetary aggregates at the Federal Reserve district level and apply a novel identification strategy that allows us to isolate the panics’ impact on monetary aggregates. We find that panics reduced the money supply by 27%, or in other words, that panics caused most of the decline in the money supply from June 1929 to December 1932.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"93 ","pages":"Article 101589"},"PeriodicalIF":2.3,"publicationDate":"2024-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140117656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Customary Atlas of Ancien Régime France 旧法国习惯地图集
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-03-12 DOI: 10.1016/j.eeh.2024.101588
Victor Gay , Paula E. Gobbi , Marc Goñi
{"title":"The Customary Atlas of Ancien Régime France","authors":"Victor Gay ,&nbsp;Paula E. Gobbi ,&nbsp;Marc Goñi","doi":"10.1016/j.eeh.2024.101588","DOIUrl":"10.1016/j.eeh.2024.101588","url":null,"abstract":"<div><p>Customary law governed most European societies during the Middle Ages and early modern period. To better understand the roots of legal customs and their implications for long-run development, we introduce an atlas of customary regions of Ancien Régime France. We also describe the historical origins of French customs, their role as a source of law, and their legal content. We then offer some insights into the research possibilities opened by this database.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"93 ","pages":"Article 101588"},"PeriodicalIF":2.3,"publicationDate":"2024-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S001449832400024X/pdfft?md5=426a7bafa6e5b6df166234caf4994025&pid=1-s2.0-S001449832400024X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140117692","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does time heal all wounds? The rise, decline, and long-term impact of forced labor in Spanish America 时间能治愈一切创伤吗？西班牙美洲强迫劳动的兴衰及其长期影响
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-03-05 DOI: 10.1016/j.eeh.2024.101580
Leticia Arroyo Abad , Noel Maurer
{"title":"Does time heal all wounds? The rise, decline, and long-term impact of forced labor in Spanish America","authors":"Leticia Arroyo Abad ,&nbsp;Noel Maurer","doi":"10.1016/j.eeh.2024.101580","DOIUrl":"https://doi.org/10.1016/j.eeh.2024.101580","url":null,"abstract":"<div><p>For most of human history, free wage labor was uncommon compared to various coercive institutions based on the threat of force. Latin America was no exception to this general rule. A number of scholars argue that past coercive labor institutions explain regional and national divergence within Latin America long after the institutions themselves have disappeared. A review of the literature, however, shows less agreement than is commonly recognized. There is evidence that forced labor on Spanish American mainland collapsed endogenously under its own weight, in which case it may have left few echoes in the present.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"93 ","pages":"Article 101580"},"PeriodicalIF":2.3,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140103234","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Linked samples and measurement error in historical US census data 美国历史人口普查数据中的关联样本和测量误差
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-02-03 DOI: 10.1016/j.eeh.2024.101579
Sam Il Myoung Hwang, Munir Squires
{"title":"Linked samples and measurement error in historical US census data","authors":"Sam Il Myoung Hwang,&nbsp;Munir Squires","doi":"10.1016/j.eeh.2024.101579","DOIUrl":"10.1016/j.eeh.2024.101579","url":null,"abstract":"<div><p>The quality of historical US census data is critical to the performance of linking algorithms. We use genealogical profiles to correct measurement error in census names and ages. Our findings suggest that one in every two records has an error in name or age, and human capital is correlated with lower error rates. While errors in age decline across subsequent census rounds from 1850 to 1930, errors in names do not exhibit such trends. Fixing all transcription errors, hence leaving only those errors made at the time of enumeration, would reduce error rates in names by 41 percent. Correcting all names and ages using genealogical profiles leads to 20%–36% more links and fewer false positives. Reassuringly, we find that reducing such errors has a negligible effect on estimates of intergenerational mobility.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"93 ","pages":"Article 101579"},"PeriodicalIF":2.3,"publicationDate":"2024-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0014498324000093/pdfft?md5=d8f8b6d65a73be19b0ccf64c92eafa30&pid=1-s2.0-S0014498324000093-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139670425","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The long-run effects of childhood exposure to market access shocks: Evidence from the US railroad network expansion 童年时期受到市场准入冲击的长期影响：美国铁路网扩张的证据
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-01-01 DOI: 10.1016/j.eeh.2022.101503
Jeff Chan
{"title":"The long-run effects of childhood exposure to market access shocks: Evidence from the US railroad network expansion","authors":"Jeff Chan","doi":"10.1016/j.eeh.2022.101503","DOIUrl":"10.1016/j.eeh.2022.101503","url":null,"abstract":"<div><p>In this paper, I use the expansion of the US railroad network from 1900 to 1910 and the resulting spatial variation in increased market access to investigate whether economic shocks that occur during childhood have long-run ramifications on later-life outcomes, and the channels through which such effects manifest. I link individuals across the 1900, 1910, and 1940 full-count US Censuses and incorporate an instrumental variable strategy to help isolate the causal effect of market access. I find that, in the short run, sons are less likely to be literate and have more siblings. In the long-run, these sons then become less likely to be well-educated and earn lower incomes. The results of this paper shed light on the mechanisms through which railroad-induced market access and other economic shocks during childhood can impact individuals even in later life.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"91 ","pages":"Article 101503"},"PeriodicalIF":2.3,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78309077","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
De-skilling: Evidence from late nineteenth century American manufacturing 去技能化：十九世纪末美国制造业的证据
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-01-01 DOI: 10.1016/j.eeh.2023.101554
Jeremy Atack , Robert A. Margo , Paul W. Rhode
{"title":"De-skilling: Evidence from late nineteenth century American manufacturing","authors":"Jeremy Atack ,&nbsp;Robert A. Margo ,&nbsp;Paul W. Rhode","doi":"10.1016/j.eeh.2023.101554","DOIUrl":"10.1016/j.eeh.2023.101554","url":null,"abstract":"<div><p><span>The longstanding view in US economic history is that the shift in manufacturing in the nineteenth century from the hand labor artisan shop to the machine labor of the mechanized factory led to “labor de-skilling” – the substitution of less skilled workers, such as operatives, for skilled craft workers. Investigating the Department of Labor's 1899 </span><em>Hand and Machine Labor Study</em><span><span>, we show the adoption of inanimate power, which we call “mechanization,” did induce de-skilling at the production operation level. However, while the treatment effect of mechanization was economically and statistically significant, it accounted for only 16 percent of the de-skilling on average in the sample, using our preferred </span>IV<span> estimator. Broadening the scope of our inquiry, we find that variations in the division of labor, as captured by the share of production tasks performed by the average worker, accounted for a substantially larger fraction.</span></span></p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"91 ","pages":"Article 101554"},"PeriodicalIF":2.3,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50166796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Informed investors, screening, and sorting on the London capital market, 1891-1913 1891-1913 年伦敦资本市场上的知情投资者、筛选和分类
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-01-01 DOI: 10.1016/j.eeh.2023.101515
Sturla Fjesme , Leslie Hannah , Lyndon Moore
{"title":"Informed investors, screening, and sorting on the London capital market, 1891-1913","authors":"Sturla Fjesme ,&nbsp;Leslie Hannah ,&nbsp;Lyndon Moore","doi":"10.1016/j.eeh.2023.101515","DOIUrl":"10.1016/j.eeh.2023.101515","url":null,"abstract":"<div><p>Thousands of prospectuses offered shares to British investors at the turn of the twentieth century. We find evidence that there were informed investors who participated in the market at this time. Firms that attracted additional investor demand were more likely to be listed on the London Stock Exchange, survive longer, and achieve better long-run equity returns. We find that the exchange screened lower quality firms away from the main board. The lowest quality firms sorted themselves and did not apply to either the London Stock Exchange main or second board.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"91 ","pages":"Article 101515"},"PeriodicalIF":2.3,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83604762","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The premium for skilled labor in the Roman world 罗马世界熟练劳动力的溢价
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2024-01-01 DOI: 10.1016/j.eeh.2023.101516
Seth Bernard
{"title":"The premium for skilled labor in the Roman world","authors":"Seth Bernard","doi":"10.1016/j.eeh.2023.101516","DOIUrl":"10.1016/j.eeh.2023.101516","url":null,"abstract":"<div><p>Romans rewarded skill in material terms, and wage data reflects this. This study develops a method for understanding the return on skilling in the Roman period, starting from internal pay scales observed in Egyptian documents. These data reveal a modal premium of 100 and mean of 74. Roman-period returns on training compare favorably with evidence from outside Egypt, especially detailed pay scales in Diocletian's Price Edict, thus suggesting a broader Empire-wide premium. This Roman skill premium is then compared with a selection of data from other premodern periods, which show that the relative price of skill in ancient Rome was not historically atypical, despite the particularly high levels of enslavement and urbanization characteristic of the Roman economy. The return on investments in training during the Empire can be seen to reflect both numeracy practices and developing market conditions for skill.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"91 ","pages":"Article 101516"},"PeriodicalIF":2.3,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50167212","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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