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Between 1660 and 1830, Parliament passed thousands of acts restructuring rights to real and equitable estates. These estate acts enabled individuals and families to sell, mortgage, lease, exchange, and improve land previously bound by inheritance rules and other legal legacies. The loosening of...
Persistent link: https://www.econbiz.de/10012464538
In recent years, some English critics have claimed that Damien Hirst and his fellow young British artists have made London the new center of the advanced art world. As Hirst reaches the age of 40, this paper uses auction results to measure the importance of the YBAs compared to their American...
Persistent link: https://www.econbiz.de/10012466957
utility context. Individuals start by choosing their investments in education anticipating returns in the marriage market and … the labor market. They then match based on the economic value of marriage and on preferences. Equilibrium in the marriage … market determines intrahousehold allocation of resources. Following marriage households (married or single) save, supply …
Persistent link: https://www.econbiz.de/10012457593
schedule. We analyze the effects of nonlinear pricing on market participation, as well as the impact of a market-wide income … data on prices and quantities in a given market. The intuition behind this identification result is that the equilibrium … price schedule in a market is a function of the distribution of consumers' willingness and ability to pay, which, in turn …
Persistent link: https://www.econbiz.de/10012456952
This paper provides a theory-based empirical framework for understanding the risk and return on productive capital assets and their allocation across activities in an economy characterized by idiosyncratic and aggregate risk and thin formal markets for real and financial assets. We apply our...
Persistent link: https://www.econbiz.de/10012458925
We document that rules for leadership succession in ethnic societies that antedate the modern state predict contemporary political regimes; leadership selection by election in indigenous societies is associated with contemporary representative democracy. The basic association, however, is...
Persistent link: https://www.econbiz.de/10012457474
How persistent are cultural traits? This paper uses data on anti-Semitism in Germany and finds continuity at the local level over more than half a millennium. When the Black Death hit Europe in 1348-50, killing between one third and one half of the population, its cause was unknown. Many...
Persistent link: https://www.econbiz.de/10012461544
We study the influence of agricultural labor intensity on individualism across U.S. counties. To measure historical labor intensity in agriculture we combine data on crop-specific labor requirements and county-specific crop mix around 1900. To address endogeneity we exploit climate-induced...
Persistent link: https://www.econbiz.de/10012814418
could not be easily monetized for trade, reducing market exchange, limiting entry, and hindering farm restructuring …
Persistent link: https://www.econbiz.de/10012481298
Using variation in crop prices induced by large swings in demand World War I, we examine the fertility response to increases in crop revenues during the period 1910-1930. Our estimates from samples utilizing both complete count decennial census microdata and newly collected county-level data...
Persistent link: https://www.econbiz.de/10012481385