Price volatility, reflecting the ability to absorb exogenous supply- or demand shocks, is an important dimension of market performance. In this paper we present a model to study the factors determining the price volatility of markets of basic foodstuffs in pre industrial societies. This model is...

On the basis of a newly constructed dataset of the national accounts of the province of Holland in the period between 1347 and 1800, we analyze the pattern of growth in this region, which was one of the most prosperous and dynamic parts of the pre modern European economy. We demonstrate that...

Migration always played an important role in Dutch society. However, little quantitative evidence on its effect on economic development is known for the period before the 20th century even though some stories exist about their effect on the Golden Age. Applying a new dataset on migration and...

This paper presents new estimates of the development of the urban population andthe urbanization ratio for the period spanning the Song and late Qing dynasties. Urbanizationis viewed, as in much of the economic historical literature on the topic, as an indirectindicator of economic development...

A new dataset for estimating the development of global inequality between 1820 and 2000 is presented, based on a large variety of sources and methods for estimating (gross household) income inequality. On this basis, and two sets of benchmarks for estimating between-country inequality (the...

In this paper we try to establish the link between book production and the spread of “ideas” as proxied by patents. Two mechanisms may be distinguished. First, in the initial phase of economic development, the production of books may stimulate the accumulation of knowledge already present in...

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...

This paper provides the first annual GDP series for Great Britain over the period 1700-1870. The series is constructed in real terms from the output side, using volume indicators and value added weights. Sectoral estimates are provided for agriculture, industry and services, and for a number of...

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...

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...