A severe collapse of fixed capital formation distinguished the onset of the Great Depression from other investment downturns between the world wars. Using a model estimated for the years 1890-2000, we show that the expected profitability of capital measured by Tobin's "q", and the uncertainty...

<b>Global trade expansion after 1870 had potentially powerful effects on income distribution, especially in land-abundant less industrialised economies, by increasing land prices relative to wages. The papers in this issue add evidence on wage-rentals for a range of countries, specifically...</b>

Using a new 16-country data set we demonstrate a robust negative employment-total factor productivity trade-off 1870-2004. Widely disparate cross country employment growth had a powerful long term influence on productivity dispersion. Unexceptional US productivity growth principally resulted...