1500 and 1800 look similar to the stagnating southern, central and eastern parts of Europe rather than the developing … northwestern parts. In the advanced parts of India and China, grain wages were comparable to those in northwestern Europe, but … wages of northwestern Europe were not simply a monetary phenomenon, but reflected high productivity in the tradable sector …

distress. With a focus on Europe, it looks at how these banks’ foreign affiliates have been faring during the recent financial …