Diese Dissertation befasst sich mit europäischer und US-amerikanischer Konjunkturgeschichte und Marktintegration im 19. und 20. Jahrhundert. Zur Analyse von konjunkturellen Schwankungen stellt sie der weitverbreiteten Historischen Volkswirtschaftlichen Gesamtrechnung (VGR) die Methode...

Diese Arbeit besteht aus vier Essays, die empirische und methodische Beiträge zur Messung von Konjunkturzyklen und deren Zusammenhänge zu demographischen Variablen liefern. Der erste Essay analysiert unter Zuhilfenahme eines Bayesianischen Dynamischen Faktormodelles die Volatilität des...

Communal responsibility, a medieval institution studied by Greif (2006), supported the use of credit among European merchants in the absence of modern enforcement technologies. This paper shows how this mechanism helps to overcome enforcement problems in anonymous buyer/seller transactions. In a...

Germany's hyperinflation resulted from a confluence of several factors, all of which contributed to a temporary breakdown in state capacity and to unsustainable public sector deficits. Wartime debt deflated by 90% already in 1920. Informal wage indexation and failure to enforce collection of a...

Most treatments of the Great Depression have focused on its onset and its aftermath. In contrast, we take a unified view of the interwar period. We look at the slide into and the emergence from the 1920-21 recession and the roaring 1920s boom, as well as the slide into the Great Depression after...

This paper examines the comovement of the stock market and of real activity inGermany before World War I under the efficient market hypothesis. We employ multivariate spectral analysis to compare rivaling national product estimates to stock market behavior in the frequency domain. Close...