The economic crisis of 2001-2002 in Argentina caused a large increase in unemployment. Policy responses have been imperfect. This paper discusses the roots and character of the crisis, the policies implemented to address the resulting social situation, and the quality of early warning indicators...

In the present paper it is pointed out that government debt is an obstacle to economic growth. To my belief, the remedy to this problem is to encourage consumption and not to impose taxes onto the consumers. Because, any decrease in their wages and salaries for temporary budgetary purposes, will...

Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...

Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the...

Using the demand side approach we construct a new set of estimates of per capita agricultural output and per capita GDP for England over the period 1250-1850. Our estimates of per capita GDP suggest that the pattern of long run growth of the English economy can be interpreted with a...

This paper presents estimates of the level of per capita GDP and of the distribution of income of preindustrial Poland. This is based on a reconstruction of a social table of the Voivodeship of Cracow for 1578. Our evidence indicates that income in Poland was distributed more equally than in...

We test various hypotheses about the causes of the Little Divergence, using new data and focusing on trends in GDP per capita and urbanization. We find evidence that confirms the hypothesis that human capital formation was the driver of growth, and that institutional changes (in particular the...

The development of a well adapted financial system was a main part of the successful Swedish economic modernization in the latter half of the nineteenth century. In this paper it is shown that this development followed the pattern of a financial revolution. Major institutional and organizational...

In this paper we re-evaluate the hypothesis that the development of the financial sector was an essential factor behind economic growth in 19th century Germany. We apply a structural VAR framework to a new annual data set from 1870 to 1912 that was initially recorded by Walther Hoffmann (1965)....