We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...

Historical events are reflected in asset prices. In this paper, we analyse government bond prices of Germany and Austria traded on the Swiss bourse during WWII. Some war events that are generally considered crucial are clearly reflected in government bond prices. This holds, in particular, for...

Belgium is associated with high-quality chocolate products and Belgian companies play an important role in cocoa processing. However, in historical perspective the global success and reputation of Belgian chocolate is a relatively recent phenomenon. Especially since the 1980s exports of "Belgian...

Trends in living standards during the Industrial Revolution is a core debate in economic history. Studies using anthropometric records from institutional sources have found downward trends in living standards during the first half of the nineteenth century. This paper contributes to this...

Are return migrants 'losers' who fail to adapt to the challenges of the host economy, and thereby exacerbate the brain drain linked to emigration? Or are they 'winners' whose return enhances the human and physical capital of the home country? These questions are the subject of a burgeoning...

This paper surveys publications in the fields of economic history and demography in the ESR since 1969. Numbering sixty in all, they cover a broad chronological and thematic range. Some of these papers never attracted much notice, but stand as useful sources for future historians. A few have...