Macrohistory Seminar – Dmitry Kuvshinov (University of Bonn)

The time varying risk puzzle, Dmitry Kuvshinov “Do risk premiums on financial assets vary over time, and which factors explain this variation? I study these two questions using a new dataset on historical ex ante risk premiums on three major risky asset classes – equity, housing and corporate bonds –...

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Macrohistory Seminar – Kaspar Zimmermann (University of Bonn)

The Big Bang, joint with Dmitry Kuvshinov This paper presents for the first time annual stock market capitalization data for 17 advanced economies from 1870 to today. We show that long-run trends and fluctuations over the last 150 years are eclipsed by a more recent observation. Market capitalization relative to...

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Macrohistory Seminar – Elena Esposito (University of Lausanne)

The Sense of the State According to a growing literature in economics, mafia-type organizations are a response to weak states. In several contexts, however, these organizations continue to persist and thrive even when state capacity is strengthened. This suggests that the perception of a weak and remote state may be,...

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Macrohistory Seminar – Omer Moav (University of Warwick)

The Emergence of Hierarchies and States: Productivity vs. Appropriability, joint with Joram Mayshar, Zvika Neeman, and Luigi Pascali According to conventional theory, hierarchies and states were formed following the Neolithic Revolution because the increase in land productivity generated a food surplus. Regional differences in state hierarchies are therefore explained by...

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Macrohistory Seminar – Elena Esposito (University of Lausanne)

The Sense of the State According to a growing literature in economics, mafia-type organizations are a response to weak states. In several contexts, however, these organizations continue to persist and thrive even when state capacity is strengthened. This suggests that the perception of a weak and remote state may be,...

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Macrohistory Seminar – Eric Chaney (Oxford University)

Scientific Revolution: Institutions and the Intellectual Rise of the Western World This paper uses the union of the world’s largest library collections to document the rise of scientific output in the West. Results suggest that the West had pulled ahead of the Islamic world by the fourteenth century, casting doubt...

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