This paper investigates whether high borrowing costs deterred investment in sanitation infrastructure in late nineteenth-century Britain. Town councils had to borrow to fund investment, with considerable variation in interest rates across towns and over time. Panel regressions, using annual data...

This article leverages uniquely abundant town-level data to examine spatial inequality in prices and wages during the First Globalisation. I build a new dataset on prices of traded and household goods, and wages of skilled and unskilled workers for a panel of 42 towns in Serbia, in the period...

We propose that the "historically relevant" comparison of the Danish and Russian Empires from the early eighteenth century until the First World War presents a useful starting point for a promising research agenda. We motivate the comparison, noting that the two empires enjoyed striking...

This paper analyses the impact that Spanish road construction had on local population growth between 1787 and 1857. We find that the increase in market access associated to road accessibility had a substantial effect on local population growth. The impact was substantially higher on the...

With use of innovative proxies and new annual data, I demonstrate that relatively high legal capacity and regulatory activity of the early-modern Polish parliament was positively associated with deeper commodity market integration. Conversely, the lack of effective law-making, caused by the...

What was the impact of urban political structure on economic inequality in preindustrial times? I document that more closed political institutions were associated with higher economic inequality in a panel of early modern German cities. To investigate the mechanisms behind that...

Most creatives acquire professional talents by learning from others, but in most settings it is difficult to estimate the existence of long-term effects. This paper explores the transmission of skills over a period of more than seven centuries by focusing on the case of music composers. We ask...

The costs and benefits of insider trading is a persistent topic in the economic literature and public discourse alike. Nowadays insider trading is principally illegal and morally banned implying that the costs are supposed to weigh heavier than the potential benefits. We study insider trading...

This study provides a comprehensive understanding of the Great Fire's effects on London's economic geography. Our analysis reveals both continuity and change. There was a swift postfire recovery accompanied by some shift in economic activity towards the City of Westminster by 1690, with markets...

Energy was one of the keys to the remarkable increase in English GDP between 1650 and 1700. Increased per head physical activity and basal metabolic rate led to increased energy consumption. In response, subsistence wages, productivity, wages and incomes increased. Malthusian adjustment explains...