Research in Economic History

Description

In this new volume of Research in Economic History, editors Christopher Hanes and Susan Wolcott bring together a cast of expert contributors to vigorously interrogate and analyze historic economics questions. The volume looks across a range of issues. Two papers address the political economy of the US: one explores how editorials in Business Week encouraged the acceptance of Keynesian policies among US business elites; and one quantifies the role of economics in the political support of William Jennings Bryan. Two papers bring new insight into longstanding debates, looking at the "antebellum puzzle" and why medieval peasants had scattered fields. Finally, two papers explore topics in European history, including the effect of deflation on the distribution of income in Denmark, 1930-1935, and the influence of shareholders on policy at the Banque de France. For researchers and students of economic history, this volume pulls together the latest research on a variety of unanswered questions. Front Cover Research in Economic History Copyright Contents Introduction Household-level Deflation Inequality in Denmark during the Great Depression Introduction The Danish Expenditure and Saving Survey of 1931 Compilation Methods Descriptive Analysis Econometric Results Some Robustness Checks and Limitations of the Study Housing Consumption Final Remarks Acknowledgments References Business Week, the Great Depression, and the Coming of Keynesianism to America for the title. Introduction Business Week’s Editorials: An Overview Against Liquidation, For Liquidity Against Deficit-cutting in Depressions Who Wrote Those Editorials and Who Read Them? How Unique Was Business Week? Conclusion Notes Acknowledgments References Business Week’s Editorials, 1929–1933: Complete List, Scored According to Keynesian Content Theory and Diagnostics for Selection Biases in Historical Height Samples Introduction Declining Heights and Rising Real Wages Modeling Military Heights Examples from Simulation The Role of Normality Departures from Normality as a Test of Selection Which Population? Implications for the RSMLE and QBE Estimators Diagnosing Selection in Heights Samples A Robust Selection Diagnostic An Example: The Union Army Conclusions Notes Acknowledgments References Populists at the Polls: Economic Factors in the US Presidential Election of 1896 Introduction Historical Narrative A Précis of the Election Data Voter Behavior in 1896 Counterfactuals Conclusion Notes Acknowledgments References The Special Concerns of Tobacco and Cotton Farmers Other Measures of Railroad Intensity Interest Rate Regressions Banque de France’s Shareholders (1800–1945): Passive Petit-Rentiers Introduction A Paradoxical Investment Disappointing Performances A Growing Number of Shareholders Reelected Directors The Stealthy Take-over of the Banque de France by the State (1806–1936) State Financing Direct Transfers of Assets A Rigged System? A Peculiar Governance System Conflicts of Interest? Toothless Watchdogs A Problem with the Shareholders? Democratization The Ascent of Financial Assets Passive Petit Rentiers Conclusion Mathematical Appendix Beta Voting Protocol Pareto Distribution and Gini Index Notes Acknowledgments Bibliography Scattered Land, Scattered Risks? Harvest Variations on Open Fields and Enclosed Land in Southern Sweden C. 1750–1850 Introduction Sources and Methodology Background: The Studied Region; the Land Reforms Harvest Variations Reformed versus Non-reformed Open Fields Open Fields versus Enclosed Land Open Fields versus Solitary Farms The Risk for a Severe Crop-failure Land Productivity The Trade-off between Risks and Productivity Final Discussion: The “Rationale” of the Open Fields? Notes Acknowledgments References