Economic Growth in Germany, 1500–1850

Pfister, Ulrich

doi:10.1017/s002205072200033x

Cited by 34 publications

(7 citation statements)

References 22 publications

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“…In the case of Spain, a more recent estimate of agricultural output from the supply side has confirmed the overall pattern of the demand-based estimates ( Álvarez-Nogal et al, 2016). Finally, for Germany I have relied on the unpublished GDP data of (Pfister, 2020), but the results are similar if instead I use real wages multiplied by population as proxy for GDP (Pfister, 2017).…”

Section: Datamentioning

confidence: 76%

The Real Effects of Monetary Expansions: Evidence from a Large-scale Historical Experiment

Palma

2021

The Review of Economic Studies

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The discovery of massive deposits of precious metals in America during the early modern period caused an exogenous monetary injection to Europe's money supply. I use this episode to identify the causal effects of money. Using a panel of six European countries, I find that monetary expansions had a material impact on real economic activity. The magnitudes are substantial and persist for a long time: an exogenous 10% increase in the production of precious metals in America measured relative to the European stock leads to a front-loaded response of output and, to a lesser extent, inflation. There was a positive hump-shaped response of real GDP, with a cumulative increase up to 0.9% six to nine years later. The evidence suggests that this is because prices responded to monetary injections with considerable lags.

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Section: Datamentioning

confidence: 76%

The Real Effects of Monetary Expansions: Evidence from a Large-scale Historical Experiment

Palma

2021

The Review of Economic Studies

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“…By then, Great Britain had realized the highest per capita GDP in Europe. The British life expectancy and human development index (HDI) scores were also among the highest in Europe by 1870 [430,446].…”

Section: Economic Developmentmentioning

confidence: 99%

The Sustainability of Operations: Past, Present, Future

Klundert

2024

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Joris van de Klundert has unearthed a truly astounding collection of fact, implications, and insights, and assembled these into an impressive manuscript. I am sure that any reader will find something new in the book.This book is original, thought-provoking, and a pleasure to read! Frits Spieksma Eindhoven, October 9, 2023Many people have contributed to this manuscript, most unintendedly and unknowingly. Especially the many students who sincerely and politely expressed their lack of understanding while I was introducing them to the 'obvious' principles of operations management have been a source of inspiration. I am indebted to them and to anyone else who allowed me to spend time on developing this book and/or listen to incoherent intermediate updates on the content while I was trying to grasp the essence of operations, operations management, and sustainability.My gratitude also goes to Now Publishers, in particular to Alet Heezemans, Mark de Jongh, and Zac Rolnic, for their commitment and support to write this book, which is only remotely related, if at all, to Zac's original request.I am also grateful for being generously allowed to reuse images. To Susan Allison, Institute for the Study of Ancient Cultures, University of Chicago, USA, for support with Figures 6.1 and 6.2. To Nima Nezafati and Thomas Stoellner from the Bergbau Museum, Bochum, Germany, for permission to reuse Figure 5.2. To the IPCC to grant permission for using Figures 2.4, 11.2, and 11.3. Lastly, to Paul Koch and Tony Barnoski for their support and co-creating Figure 4.4, which updates Table 1 of their 2006 publication [139].

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“…Their model treats the existing debt stock of the government as a constraint 20 Real per capita GDP series are mainly sourced from Bolt and van Zanden (2020), and authors therein. We thank Ulrich Pfister for sharing his latest German GDP compilations, on which we rely via Pfister (2022), and thank Leonardo Ridolfi for providing context to his most recent French data (Nuvolari and Ridolfi 2021). Note that the source basis for this exercise differs in multiple ways from the calculation of intervention size / GDP figures in table V, for which we utilize aggregate NGDP series, as also detailed in Online Appendix F.…”

Section: B Intervention Mixes: Definitions and Simple Comparisonsmentioning

confidence: 99%

Banking-Crisis Interventions Across Time and Space

Metrick¹,

Schmelzing²

2021

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Stability (YPFS). Information about the YPFS, including its sources of funding and conflict-ofinterest policies, are available at https://som.yale.edu/faculty-research-centers/centers-initiatives/ program-on-financial-stability/about/conflict-of-interest-policy. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Economic Growth in Germany, 1500–1850

Cited by 34 publications

References 22 publications

The Real Effects of Monetary Expansions: Evidence from a Large-scale Historical Experiment

The Real Effects of Monetary Expansions: Evidence from a Large-scale Historical Experiment

The Sustainability of Operations: Past, Present, Future

Banking-Crisis Interventions Across Time and Space

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