Landowning, Status and Population Growth

This paper considers the effects of the landowning and land reforms on economic and demographic growth by a family-optimization model with endogenous fertility and status-seeking. A land reform provides the peasant with strong incentives to limit their family size and to improve the productivity of the land. Even though the income effect due to the land reform tends to raise fertility, a strong enough status-effect outweighs it, thus generating a decrease in population growth. The European demographic history provides supporting anecdotal evidence for this theoretical result

The Threat of Capital Drain: A Rationale for Public Banks?

This paper yields a rationale for why subsidized public banks may be desirable from a regional perspective in a financially integrated economy. We present a model with credit rationing and heterogeneous regions in which public banks prevent a capital drain from poorer to richer regions by subsidizing local depositors, for example, through a public guarantee. Under some conditions, cooperative banks can perform the same function without any subsidization; however, they may be crowded out by public banks. We also discuss the impact of the political structure on the emergence of public banks in a political-economy setting and the role of interregional mobility

Beyond the personal–anonymous divide: agency relations in powers of attorney in France in the eighteenth and nineteenth centuries

Powers of attorney are often interpreted as evidence of trust among the parties involved. We build a novel dataset of notarized powers of attorney, capturing a wide variety of agency relationships in four large French commercial cities in the eighteenth and nineteenth centuries, to test hypotheses on the relational basis of economic relationships. We find little support for the idea of a radical shift from personal to anonymous relationships during our period. Our results point to more nuanced transformations. The preference for proxies in the same occupation as the principal somewhat declined, while professional proxies emerged and principals used relational chains, especially involving notaries, to find proxies.Peer Reviewedhttps://deepblue.lib.umich.edu/bitstream/2027.42/151849/1/ehr12784_am.pdfhttps://deepblue.lib.umich.edu/bitstream/2027.42/151849/2/ehr12784.pd

The Agenda and Relevance of Recent Research in Microfinance

This paper studies recent research efforts in the field of microfinance. Two questions guide the study: What is the agenda of recent research efforts? And, for who is the research relevant? As for the agenda the “yin and yang” of microfinance; impact and sustainability, continue to influence most research efforts. The study illustrates that microfinance attracts mainly the interest of development researchers and journals. Accordingly the researchers seem mainly to interact with the donors’ and practitioners’ communities. The research produced seems to be relevant for them and less so for the governmental and banking communities. The paper concludes proposing the design of a new research agenda, this time in cooperation with the banking community

Guilds in the transition to modernity: the cases of Germany, United Kingdom, and the Netherlands

One important aspect of the transition to modernity is the survival of elements of the Old Regime beyond the French Revolution. It has been claimed that this can explain why in the late 19th and early 20th centuries some Western countries adopted national corporatist structures while others transformed into liberal market economies. One of those elements is the persistence or absence of guild traditions. This is usually analyzed in a national context. This paper aims to contribute to the debate by investigating the development of separate trades in Germany, the United Kingdom and the Netherlands throughout the 19th century. We distinguish six scenarios of what might have happened to crafts and investigate how the prevalence of each of these scenarios in the three countries impacted on the emerging national political economies. By focusing on trades, rather than on the national political economy, our analysis demonstrates that in each country the formation of national political economies and citizenship rights was not the result of a national pattern of guild survival. Rather, the pattern that emerged by the end of the 19th century was determined by the balance between old and new industries, and between national and regional or local government

We do not know the Population of Every Country in the World for the Past Two Thousand Years

Economists have reported results based on populations for every country in the world for the past two thousand years. The source, McEvedy and Jones’ Atlas of World Population History, includes many estimates that are little more than guesses and that do not reflect research since 1978. McEvedy and Jones often infer population sizes from their view of a particular economy, making their estimates poor proxies for economic growth. Their rounding means their measurement error is not “classical.” Some economists augment that error by disaggregating regions in unfounded ways. Econometric results that rest on McEvedy and Jones are unreliable