In advanced economies, a century-long, near-stable ratio of credit to GDP gave way to rapid
financialization and surging leverage in the last forty years. This “financial hockey stick” …

This paper unveils a new resource for macroeconomic research: a long-run dataset covering
disaggregated bank credit for 17 advanced economies since 1870. The new data show that …

What risks do asset price bubbles pose for the economy? This paper studies bubbles in
housing and equity markets in 17 countries over the past 140 years. History shows that not …

In May 2007, the relatively unknown Brazilian firm JBS acquired Coloradobased Swift &
Company for $1.4 billion and suddenly became the largest beef pro cessing company in the …

Принято считать, что существующие различия в экономике, политике и обществе
отражают влияние различных институтов. Но среди экономистов, политологов и …

Between 1492 and 1914, Europeans conquered 84 percent of the globe. But why did
Europe establish global dominance, when for centuries the Chinese, Japanese, Ottomans …

The quality of life for ordinary Roman citizens at the height of the Roman Empire probably
was better than that of any other large group of people living before the Industrial …

It is widely believed that current disparities in economic, political, and social outcomes reflect
distinct institutions. Institutions are invoked to explain why some countries are rich and …

Why did the industrial revolution take place in eighteenth-century Britain and not elsewhere
in Europe or Asia? In this convincing new account Robert Allen argues that the British …

Identities, Boundaries and Social Ties offers a distinctive, coherent account of social
processes and individuals' connections to their larger social and political worlds. It is novel …