At least some ancient civilizations used various risk-management strategies to minimize price volatility. In this article, we examine one such strategy, grain storage, by means of a dataset recently made available that provides agricultural prices for Babylonia during the Late Achaemenid and...

In recent years interest in welfare levels in ancient economies has increased considerably partly as a result of a quest to find the start of modern economic growth. These welfare levels can be calculated in two ways. First, it can be done using GDP per capita, capturing average income in a...

Recent research has shown early economies to exhibit market behavior by using institutions that reduce price volatility. In this paper we focus on storage as a price stabilizing strategy in Babylon using a recent dataset with agricultural prices for the Late Achaemenid and Hellenistic periods...

This paper reconstructs GDP from the output side for medieval and early modern Britain. In contrast to the long run stagnation of living standards suggested by daily real wage rates, output-based GDP per capita exhibits modest but positive trend growth. One way of reconciling the two series is...

Many studies indicate that human height is determined largely by childhood circumstances, which in turn influences an adult's labor market opportunities. The aim of this note is to test this thesis by examining the correlation between childhood circumstances and labor market outcomes on the one...