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Explorations in Economic History最新文献

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Inland Bills of Exchange: Private Money Production without Banks+ 内陆汇票：没有银行的私人货币生产+
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-11-03 DOI: 10.1016/j.eeh.2023.101547
Gary Gorton
{"title":"Inland Bills of Exchange: Private Money Production without Banks+","authors":"Gary Gorton","doi":"10.1016/j.eeh.2023.101547","DOIUrl":"10.1016/j.eeh.2023.101547","url":null,"abstract":"<div><p>I study a sample of 482 English inland bills of exchange (where all parties to the bill were in England) during the period 1762-1850. Inland bills were used as a medium of exchange during the Industrial Revolution in the north of England. During this period, they circulated via indorsements, committing each indorser's personal wealth to back the bill. The number of endorsements is a measure of the liquidity/velocity of the bills. I ask what bill characteristics are associated with greater velocity. I also investigate whether bills backed by banks and others backed only by the joint liability of indorsers had different velocities. Bank-backed bills were more liquid than nonbank-backed bills, consistent with the Dang, Gorton, and Holmström (2018) (DGH) theory that the optimal design of private money is debt backed by debt.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"92 ","pages":"Article 101547"},"PeriodicalIF":2.3,"publicationDate":"2023-11-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71435958","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 economic impact of social distancing: Evidence from state-collected data during the 1918 influenza pandemic 保持社会距离的经济影响:来自1918年流感大流行期间国家收集数据的证据
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101531
Benjamin Bridgman , Ryan Greenaway-McGrevy
{"title":"The economic impact of social distancing: Evidence from state-collected data during the 1918 influenza pandemic","authors":"Benjamin Bridgman ,&nbsp;Ryan Greenaway-McGrevy","doi":"10.1016/j.eeh.2023.101531","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101531","url":null,"abstract":"<div><p>What are the long-run economic impacts of the policy responses to control pandemics? We investigate this question by exploiting state-collected data spanning one of the most consequential global pandemics in centuries, the 1918 influenza pandemic. Specifically, we use a difference-in-differences framework to examine the effects of non-pharmaceutical interventions (NPIs), ultimately finding no long-run impact of NPIs on employment, positive or negative. Employment trends prior to 1918 suggest that World War One is an important confounding factor in analyses of the pandemic, since cities with tighter NPIs grew rapidly between 1914 and 1918. We identify new control variables that account for war production and find that social distancing did not have long run employment impacts. The evidence underscores the importance of accounting for confounding economic and policy factors for understanding the impact of pandemics on economic outcomes.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101531"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874667","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: 1
Politics and eminent domain: Evidence from the 1879 California constitution 政治与征用权:来自1879年加州宪法的证据
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101546
Mark Kanazawa
{"title":"Politics and eminent domain: Evidence from the 1879 California constitution","authors":"Mark Kanazawa","doi":"10.1016/j.eeh.2023.101546","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101546","url":null,"abstract":"<div><p>This paper explores the politics of eminent domain, using a specific historical episode: the enactment of the new California constitution in 1879. It presents evidence that the failure of a constitutional provision that would have codified eminent domain powers for water development resulted from a complex interchange of economic interests among farmers, miners, and urban residents. This evidence was manifested in delegate behavior on the floor of the constitutional convention in 1878, including various roll-call votes, which are subjected to an econometric analysis. The results have implications for the interpretation of legislative eminent domain decisions, and the degree to which economic development processes are shaped by the institutional environment in which they occur.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101546"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874658","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
Land rights in historical Vietnam: Theory and evidence 历史上越南的土地权利:理论与证据
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101551
Hoang-Anh Ho
{"title":"Land rights in historical Vietnam: Theory and evidence","authors":"Hoang-Anh Ho","doi":"10.1016/j.eeh.2023.101551","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101551","url":null,"abstract":"<div><p><span>I develop a theory to study the determination of land rights in precolonial Vietnam, in which the state uses restrictive land rights to tie landless peasants to their land, in order to collect </span>head taxes and enforce unpaid labor services and military conscription. Using a unique national land registry in nineteenth-century Vietnam, I find suggestive evidence supporting a hypothesis that higher population density is associated with lower prevalence of private land rights. The experience of historical Vietnam stands in contrast to the standard prediction that private land rights should become more widespread when population density increases and land becomes more valuable. A comparison with the enclosure movement in premodern England provides useful lessons on the development of private land rights in an agricultural economy.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101551"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874661","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
Women’s educational attainment, marriage, and fertility: Evidence from the 1944 G.I. Bill 妇女受教育程度、婚姻和生育:来自1944年《美国军人权利法案》的证据
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101539
Conor Lennon
{"title":"Women’s educational attainment, marriage, and fertility: Evidence from the 1944 G.I. Bill","authors":"Conor Lennon","doi":"10.1016/j.eeh.2023.101539","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101539","url":null,"abstract":"<div><p>In contemporary settings, greater earnings among women are typically associated with reduced marriage rates and lower fertility. One way that women’s earnings may increase is via changes in educational attainment. To study whether educational attainment affects marriage and fertility choices in a historical setting, I rely on the variation in educational attainment among female WWII veterans created by the 1944 G.I. Bill. Using data from the long-form 1980 census, I first show that WWII veteran status is associated with reduced rates of marriage, increased age at first marriage, and lower fertility, which suggests that G.I. Bill-related education could have had an important effect for veteran women. I then use age at the time of the G.I. Bill announcement as an instrument to establish a causal effect of educational attainment on marriage and fertility outcomes among female veterans. My instrumental variable estimates suggest that each year of G.I. Bill-induced educational attainment is associated with an 8 percentage point decrease in the probability of ever getting married, a 4.7 year increase in age at first marriage, and a 0.67 reduction in the number of children. Using age at the time of the G.I. Bill announcement as an instrument is valid because the benefits could not have been easily anticipated, women had to be 21 to enlist, and the generosity of one’s G.I. Bill benefits depended on the number of years of WWII service.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101539"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874665","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
Fueling the party machine: Evidence from Greece during Metapolitefsi 为政党机器加油:来自希腊的证据
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101538
Pantelis Kammas , Maria Poulima , Vassilis Sarantides
{"title":"Fueling the party machine: Evidence from Greece during Metapolitefsi","authors":"Pantelis Kammas ,&nbsp;Maria Poulima ,&nbsp;Vassilis Sarantides","doi":"10.1016/j.eeh.2023.101538","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101538","url":null,"abstract":"<div><p>The establishment of the Third Hellenic Republic in 1974 (<em>Metapolitefsi</em><span>) was characterized by an increased public demand for a less centralized political system. The main political parties that emerged responded by giving priority to the development of local and regional organizations and creating a wide network of grassroots movements. This led to a gradual introduction of more decentralized political institutions and a significant increase of expenses to prefectures and subsidies to municipalities. Building on two novel hand-collected datasets at the prefectural and municipal levels, our analysis provides empirical evidence of party favoritism in the spatial allocation of intergovernmental transfers during the first two decades of </span><em>Metapolitefsi</em>. We argue that governing parties diverted intergovernmental transfers towards their political strongholds and politically aligned mayors, as local authorities played the role of the focal points in the process of party building.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101538"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874668","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
Historical height measurement consistency: Evidence from colonial Trinidad 历史高度测量一致性:来自特立尼达殖民地的证据
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101549
Alexander Persaud
{"title":"Historical height measurement consistency: Evidence from colonial Trinidad","authors":"Alexander Persaud","doi":"10.1016/j.eeh.2023.101549","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101549","url":null,"abstract":"<div><p>Economists have used historical heights as markers of health, living standards, and long-run development. Although possible selection bias has been debated, height measurement error is less studied. I analyze novel administrative data of male Indian indentured laborers with repeated measurements of adult height to answer an important underlying question of precision. Laborers were measured by British colonial officials on departure in India and again several years later when opting to return to India. I find no height differences for men who had attained full height in India. Younger men continued to grow even into their twenties. A caste subgroup analysis finds mostly similar results. This paper provides some of the first evidence showing height consistency in repeated measurements of adult heights.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101549"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874656","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
Stock returns and the Spanish flu, 1918–1920 1918-1920年，股票收益和西班牙流感
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101543
Marco Del Angel , Caroline Fohlin , Marc D. Weidenmier
{"title":"Stock returns and the Spanish flu, 1918–1920","authors":"Marco Del Angel ,&nbsp;Caroline Fohlin ,&nbsp;Marc D. Weidenmier","doi":"10.1016/j.eeh.2023.101543","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101543","url":null,"abstract":"<div><p>We study the impact of the 1918 Spanish Flu on U.S. stock prices. Using a new weekly hand collected sample of 131 firms that traded on the NYSE, we examine the impact of the four waves of the flu on stock returns using panel regressions. We find that the second and fourth wave of the pandemic significantly lowered stock returns by 65.5 and 21.6 percent relative to the sample mean return, respectively. The large, but temporary impact of the virus on stock returns can probably be attributed to the fact that, unlike Covid-19, the flu hit the working age population particularly hard.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101543"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874659","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
Morts Pour la France: A database of French fatalities of the Great War Morts Pour la France:第一次世界大战中法国死亡人数的数据库
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101550
Victor Gay , Pauline Grosjean
{"title":"Morts Pour la France: A database of French fatalities of the Great War","authors":"Victor Gay ,&nbsp;Pauline Grosjean","doi":"10.1016/j.eeh.2023.101550","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101550","url":null,"abstract":"<div><p>This article describes the construction and content of the <em>Morts pour la France</em> database. This database contains individual-level data on the universe of the 1.3 million French fatalities of the Great War who were officially recognized as war victims. It provides information on each soldier’s first and last names, dates of birth and death, circumstances of death, recruitment status, military rank and unit, and locations of birth and recruitment. We further provide datasets of military death rates at the level of 87 départements and 35 thousand municipalities along with relevant shapefiles and discuss potential applications of this database.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101550"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874655","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
Debt policy in Spanish America during the seventeenth century 17世纪西班牙美洲的债务政策
IF 2.3 1区 历史学
Explorations in Economic History Pub Date : 2023-10-01 DOI: 10.1016/j.eeh.2023.101548
Sergio Tonatiuh Serrano Hernández
{"title":"Debt policy in Spanish America during the seventeenth century","authors":"Sergio Tonatiuh Serrano Hernández","doi":"10.1016/j.eeh.2023.101548","DOIUrl":"https://doi.org/10.1016/j.eeh.2023.101548","url":null,"abstract":"<div><p>This paper analyzes the policies that the Castile of the seventeenth century followed toward creating and selling short-term and long-term debt paid off from the Crown's New World revenues. We use microdata to reconstruct comprehensive fiscal accounts for Spanish America during the seventeenth century. Our new time series evidence shows that the Spanish Empire maintained differential debt policies in the center and the periphery. Spanish America issued considerably less debt, more credible than coetaneous Castilian debt. However, the issuances’ size did not reflect lower debt capacity in the New World, as the Spanish Empire restrained long-term debt issuance to emergencies. We also provide complementary evidence from debt issuances and explain why differential debt policies were maintained.</p></div>","PeriodicalId":47413,"journal":{"name":"Explorations in Economic History","volume":"90 ","pages":"Article 101548"},"PeriodicalIF":2.3,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49874663","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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