A surge in orders during the stock market boom of the late 1920s collided against the constraint created by the fixed number of brokers on the New York Stock Exchange. Estimates of the determinants of individual stock bid-ask spreads from panel data reveal that spreads jumped when volume spiked,...

This paper examines the historical record of the financial crises that have often accompanied surges of globalization in the past. The issue of contagion, the spread of financial turbulence from the crisis center to its trading partners, is confronted with historical and statistical evidence on...

This major new reference collection reprints the most important published papers on the problems of war finance under varying constraints imposed by institutions, technology, geography, and strategy from the time of Alexander the Great to the Gulf War in 1991. Larry Neal has written a new...

Beginning with the basic background and perspectives needed for non-European audiences, the authors focus on the most striking aspects of European integration such as trade, agriculture, and monetary unification. Part I of the book ends with a capstone chapter that describes current weaknesses...

In the seventeenth century, Amsterdam and London developed distinctive innovations in finance through both banks and markets that facilitated the growth of trade in each city. In the eighteenth century, a symbiotic relation developed that led to bank-oriented finance in Amsterdam cooperating...

In an era when financial markets were only beginning the move from personal to impersonal relations, this paper examines the role of Jewish brokers in the market for Bank of England stock at a time when their status as recent immigrants, subject to constraints due to religion and ethnicity, made...