Handbook of Cliometrics

Introduction to the Handbook of Cliometrics
	Aims and Scope
	The Methodological Features
	The Main Achievements
	A Branch of History?
	An Auxiliary Discipline of Economics
	A Full-Fledged Field of Economic Theory
	The Contents
	References
Preface to Third Edition
Preface to Second Edition
Preface to First Edition
Contents
About the Editors
Contributors
Part I: History
	History of Cliometrics
		Introduction
		Cliometrics
		The Economic History Discipline
		Economic History in America
		The NBER
		Business History
		Founding of the EHA
		The New Economic History Movement
		The Shortcomings of Clio
		Clio´s Accomplishments
		Conclusion
		References
	The Contributions of Robert Fogel to Cliometrics
		Introduction: Robert Fogel as a Pioneer of Cliometrics
		Robert Fogel´s Biography and His Students
		The New Economic History: The Role of Theory and Quantification
			The Reinterpretation of American Economic History
		Economic History as the Study of Economic Growth
		Robert Fogel´s Substantive Contributions
			The Economic History of the US Railroad
				Union Pacific as Premature Enterprise
				Railroads and American Economic Growth
			The Study of Industrial Expansion: Antebellum US Iron and Steel
			The Cliometrics of Slavery
				Time on the Cross and Without Consent or Contract
				The Decision to Aim at a Broad Public Audience
				The Fallout from the Slavery Controversy
			Demography, Anthropometrics and Technophysio Evolution
		Conclusion: Fogel, Kuznets, and the Empirical Tradition in Economics
		References
			Selected Works by Robert William Fogel (in Order of Publication)
			Archival and Primary Sources
			Published Items
	Douglass North and Cliometrics
		Introduction
		North´s Early Career as a Neoclassical Economist and Cliometrician
		From Cliometrics to Neoclassical Theories of Institutional Change
		Expanding the Frame of Institutional Economics
		Expanding the Horizons of Economists: From Cognitive Science to Political Orders
		Do Institutions Matter? North and His Critics
		North´s Legacy
		Cross-References
		References
			Selected References by Douglass C. North (In Order of Publication)
			Other Selected References
	Economic History and Economic Development: New Economic History in Retrospect and Prospect
		References
	Economic History as Humanomics
		Introduction
		What Economic History Has Become
		What Economic History Could Be
		Conclusion
		References
	Ranking Economic History Journals
		Introduction
		A Short History of Economic History Journals
		Bibliometric Indicators and International Rankings
			Main Indicators
			Journals´ Rankings in Economics
		A Bibliometric Analysis of Economic History Journals: Indicators and International Rankings
			Main Indicators
			Journals´ Rankings
		The Top Five Economic History Journals (T5-EH)
		The Success in the T5-EH
		Conclusion
		Appendix
		References
Part II: Clio Around the World
	Cliometrics and the Study of Canadian Economic History
		Introduction
		Resource-Led Growth: Curse or Blessing
		Indigenous Peoples and the Fur Trade: Market Signals, Demography, and Depletion
		The Wheat Boom: Time Series Analysis and the Identification of Structural Breaks
		The Adoption of Protectionism: General Equilibrium and ``New Trade´´ Models
		Transport Costs: Intracontinental Shipping and the Subsidization of Railways
		Immigration: Self-Selection and Assimilation
		Entrepreneurial Failure: Measuring Productivity and Technological Change
		Concluding Remarks
		Cross-References
		References
	Cliometric Contributions to Australia´s Economic History
		Australian Aboriginals
		Australia´s Convict Economy
		Australian Demography
		Australia´s Growth in the Long Run
		The Australian Economy in International Context
		International Trade After Federation
		Dutch Disease and Resource Booms
		Labor Markets
		Heights and Welfare
		Conclusion
		References
	Cliometrics, the Russian Empire, and the Soviet Union
		Introduction
		Two Big (Linked) Questions and How Cliometrics Has Addressed Them
			Big Question Number 1: Why Did Russia Industrialize So Slowly?
				Introduction: Why Industrialize, and How?
				Serfdom
				Human Capital
				Industrialization: Entry Barriers, Financial Markets, and Factory Organization
				Political Economy
				Macroeconomic Assessments and Measurements of Living Standards
			Big Question Number 2: Why Was There an October Revolution?
				Why Was There an October Revolution? What Do We Know?
				What Happened to the Economy Once the Soviet Union Was Established?
		Addendum: A Short History of Cliometrics of the Russian Empire and Soviet Union
		Concluding Remarks: Avenues for Further Research
		References
	Cliometrics and the Study of German History
		The German Cliometrics Database
			What Makes a Publication Cliometric?
			When Does a Publication Contribute to German History?
			Which Types of Publication Are Considered?
		German Cliometrics in the Longue Durée: A Descriptive Overview Taken from the Corpus
			Recorded Publications by Type and Time: The Cliometric Lay of the Land
			Additional Publication and Author Characteristics: Language, Co-authorship, Sex
			Journal Characteristics: In Which Journals Has Cliometric Research Been Published?
			Publications by Author Affiliation: Where Are the ``Cliometric Hotspots´´ to be Located?
			Characteristics of the Research: The Business Cycles of Researched Epochs and Topics
			Broadening the Perspective: The Proportion of Cliometric Research in Historical Research
		Selected Topics in German History
			German National Accounts: The Size of the Pie
			and the Pie´s (Income and Wealth) Distribution
			All Lives Matter: Demography
			Crossing and Lifting Borders: Market (Dis)integration and the German Customs Union
			Getting Smart: Human Capital Formation and Economic Growth in Nineteenth Century Prussia
			Getting Smarter: Innovation and Economic Growth
			Financing Industrialization: The Role of Banks
			Weimar´s Economic Decline
			and the Rise of the Nazi Party
		Conclusion
		References
	Economic History of French Canadians
		Introduction
		Living Standards Compared Over Time and Space
		Cultural and Geographic Explanations for Divergence Pre-1867
		Institutional Explanations for Divergence and Eventual Convergence
		Conclusion
		References
	Cliometric Approaches to Central, East, and South-East Europe
		Introduction
		Landmark Publications on Central, East, and South-East Europe
			Gerschenkron (1962, 1965)
				Economic Backwardness and the Role of the State
				The Detrimental Impact of Serfdom on Economic Development
			Hajnal (1965)
			Berend and Rnki (1974)
			Lampe and Jackson (1982) and Kaser and Radice (1985-1989)
		Long-Term Factors Impeding Economic Growth in CESEE
			The ``Rise and Fall´´ of Serfdom in the Historiography
				The Efficiency of Serfdom
				The Consequences of Emancipation on Agricultural Productivity, Urbanization, and Industrialization
			Institutional Weaknesses
			Demography
			Market Access and Market Integration
		Where Did the CESEE Economies Stand by the Time Central Planning Was Introduced?
			Late Tsarist Russia and the Soviet Union Until 1928
				Central Europe and South-East Europe
		Economic Achievements of the State Socialist Period
		Conclusion
		References
Part III: Human Capital
	Human Capital
		Human Capital and History
			What Is Human Capital?
			Why the Study of Human Capital Is Inherently Historical
		Human Capital and Economic Growth
			Human Capital and Economic Performance in the Long Run: Escaping Malthus
			Human Capital, Institutions, and Economic Growth
		Producing Human Capital: Education and Training
			The Rise of Formal Education and the Role of the State
			Formal Schooling in Europe and America
			Why Invest in Education or Training?
			Role of the State in Education
			Why Education Levels Increased
			Race Between Education and Technology
			Human Capital and Education: Concluding Remarks
		Producing Human Capital: Health
			Health Human Capital and Income
			Measures of Health Human Capital
			Increased Life Expectation: The Three Historical Phases
				Phase I: Improvements in Nutrition
				Phase II: Public Health Interventions
				Phase III: The Age of Modern Medicine
		Human Capital: Summary
		References
	Labor Markets
		Introduction
		Definition of the Labor Force
		What Is a Labor Market?
		Documenting the American Labor Force
		Size and Composition of the American Labor Force
		The Intensive Margin
		Occupations and Skills
		Wages: The Price of Labor
		Sources of Information About Wages in American Economic History
		Long-Run Growth in Real Wages
		Regional Differences: The Emergence of a National Labor Market in the Nineteenth Century
		Diversity in the Labor Market: Racial Differences
		Directions for Future Research
		References
	The Human Capital Transition and the Role of Policy
		Introduction
		Long-Run Economic Development and Human Capital
		Principles of Human Capital Theory
		Traditional Education and Skills Transmission
			Apprenticeships
			The Role of Guilds
			The Decline of Apprenticeships
		Catalyzing the Human Capital Transition
			The Gutenberg Revolution
			Early Private Demand for Books and Literacy
			Early Spiritual Demands for Mass Education
		Demand for Education
			The Pros and Cons of Mass Education
			Books in the Industrial Revolution
			Industrial Demands for Education
			The Incentives for the Nation-State to Provide Mass Schooling
		Government Intervention in Education
		The Worldwide Human Capital Transition and the State
			Trends in Worldwide Human Capital Levels During the Last Two Centuries
			Human Capital and the State
		Conclusion
		Cross-References
		References
	Education and Socioeconomic Development During the Industrialization
		Introduction
		Education and Economic Development
			The Relevance of Education for Industrialization
			Evidence from the First Phase of Industrialization
			Evidence from the Second Phase of Industrialization
			Different Levels of Education
		Education and Protestant Economic History
			A Human Capital Theory of Protestant Economic History
			Education and Protestant Economic Development Over the Nineteenth Century
			Gender-Specific Developments
		Education and Secularization
			The Expansion of Advanced Schools and Religious Participation
			Different Levels of Education
		Education and the Demographic Transition
			The Trade-Off Between Children´s Education and Fertility
			Women´s Education and Their Fertility
		Conclusion
		References
	Gender in Economic History
		Introduction
		How Much Did Women Participate in the Economy?
		Why Did Women Earn Less than Men?
		Why Did Men and Women Do Different Work?
		What Determines Gender Roles?
		What Role Did Women Play in Economic Growth?
		Conclusion
		References
	International Migration in the Atlantic Economy 1850-1940
		Introduction
		Determinants of International Migration
		Immigration Policy
		Immigrant Selection
		Immigrant Assimilation
		The Effects of Migration
		The Legacy of Historical Immigration
		Conclusion
		References
	Cliometrics and the Concept of Human Capital
		Introduction
		The Development of the Human Capital Research Program
			Forerunners
		Schultz´s Early Developments and the Opportunity of Solow´s Residual
		The Synthesis Provided by Schultz, Becker, and Mincer
		Reservations, Old and New, About the Concept of Human Capital
			Theoretical and Methodological Objections
			Skepticism About the Measurement of Human Capital
		Human Capital and the Industrialization Process
		Human Capital and Early Industrialization: A Paradox in Economic History?
		The Paradox Under Review: Reevaluating What Human Capital Is
		Conclusion
		References
	Age-Heaping Based Human Capital Estimates
		Introduction
		Age-Heaping-Based Indicators: Advantages, Potential Biases, and Indexes
			Advantages, Potential Biases, and Heaping Patterns
			Whipple, ABCC, and Other Indexes
		Applied Age-Heaping Indicators in Various Research Topics
			Reconstructing Very Early Numeracy Differences: The Example of Inca Indios
			Religion and Numeracy
			Path Dependency of Early Numeracy and Land Inequality As Determinants of Modern Math and Science Skills?
			Numeracy Differences Between Occupational Groups in Preindustrial Times
		The Development of Numerical Skills in Different World Regions and Time Periods
			A Human Capital Revolution in Europe
			Numeracy Levels in Latin America
			Industrialized Countries Versus the Rest of the World?
		Numeracy Trends of Women and the Gender Gap in Different World Regions
			Numeracy Trends of Women in Some Industrialized Countries
			The Gender Gap in Latin America
			The Gender Gap in Asia
		Conclusion: The Impact of Numerical Abilities on Growth
		References
	Church Book Registry: A Cliometric View
		Introduction
		The Malthusian Model
		Some Key Debates in Economic History
		The Nature of Church Book Registers
		How the Registers Have Been Used
		What Is Next?
		References
	Fertility and Family Dynamics
		Introduction
		The Demographic Transition
		The Baby Boom
		The Rise of Non-marital Fertility
		Family Dynamics and Women´s Labor Force Participation
		Family Dynamics and Social Mobility
		Conclusion
		References
	Community Networks in Trade and Industry in South and Southeast Asia
		The Context
		Collectivist Institutions
		Community Networks
		Trading Communities in Southeast Asia
		Trading Communities in South Asia
		Interactions with the European Trading Companies
		Community Specialization in Trade
		From Trade to Industry
		Limitations of Community-Based Trade
		Conclusion
		References
Part IV: Growth
	Cliometrics of Growth
		Introduction
		The Stylized Facts of the Development Process
			Evolution of Output and Population Growth in Western Europe
			The Three Phases of the Development Process
				Stagnation: Malthusian Era
				Takeoff: Post-Malthusian Phase
				Sustained Growth: Modern Growth Regime
			Main Challenges
		Toward a Unified Theory of Growth: Theoretical Background
			Traditional Theories of Economic Growth
				The Malthusian Theory
				The Neoclassical Theory
					Exogenous Growth Model
					New Home Economics
				The Endogenous Growth Theory
			The Theories of Demographic Transition
		The Unified Growth Theory
			The Building Blocks of the Theory
			Complementary Factors: The Role of Female Empowerment
		Conclusion
		References
	Preindustrial Economic Growth: ca. 1270-1820
		Introduction
		Stylized Facts About Preindustrial Growth in Europe
			Real Wages
			Per Capita GDP
		Explanations for Preindustrial Economic Growth
			The Black Death
			Explanations for the ``Little Divergence´´
		Conclusion
		Cross-References
		References
	The Industrial Revolution: A Cliometric Perspective
		Introduction
		The Problem of the Netherlands
		Property in Knowledge
		Ideas and the Industrial Revolution
		How Sudden was the Industrial Revolution? Revolution or Evolution?
		Changes in People
		Conclusion
		References
	The Antebellum US Economy
		Introduction
		Estimates of Gross Domestic Product, 1790-1860
		Napoleonic Wars, Embargo, and the War of 1812
		Transportation Revolution
			Turnpikes
			Canals
			Steamboats on Western Rivers
			Railroads
		Productivity Growth in Agriculture
			Biological Sources of Productivity Growth
		Manufacturing and American Technology
		Economic Growth in Slave South and Free North
		Conclusion
		Cross-References
		References
	Economic-Demographic Interactions in European Long-Run Growth
		Introduction
		Data
		Population, Natural Increase, and the Economy
		Economic Growth and Demographic Transition
		Migration and the Economy
		Identification
		Time Series Analyses
		Conclusion
		References
	The Golden Age of European Economic Growth
		Introduction
		Growth Performance
		What Explains the Golden Age of European Growth?
			The Janossy Hypothesis
			Macroeconomic Stability
			Structural Change
			The Marshall Plan and the European Economic Community
			Social Capability and Technological Congruence
			High Investment/Wage Restraint Cooperative Equilibrium
			Relative Economic Decline in the United Kingdom
		What Explains the Big Slowdown after the Golden Age?
			Incomplete Catch-Up
			Social Capability in Different Technological Eras
			Supply-Side Policy
			The Celtic Tiger
			Insights for the Golden Age
		Conclusions
		References
	GDP and Convergence in Modern Times
		Introduction
		GDP: Concept, Limits, and Success
		Reconstructing GDP: Methods and Problems
		Convergence or Divergence? Measures and Models
		A Further Step: From National to Regional Estimates (and Models)
		Concluding Remarks
		References
	Cliometric Approaches to International Trade
		Why Look at Trade?
		Measuring the Extent of Trade and Market Integration
		What Determines Trade?
		And What About Trade Policy?
		Conclusion
		References
	Market Integration
		Introduction
		The General Framework: What Is Market Integration and why it Is Relevant
		The First Wave: Measurement
		The Second Wave: The Causes of Integration
		The Third Wave: The Effects of Integration
		Conclusion: Taking Stock
		Cross-References
		References
	A Window to the Past: Living Standards in Historical Perspective
		Introduction
		Building the Window
			In the Beginning, It Was All About England
			Crossing the Channel
		Looking Out the Window
			The Onset of Modern Economic Growth
			Divergence, Big and Small
			Blame It on Colonialism?
		Reframing the Window
			Problematic Wages
				More than Cash Needed
				Working for the Weekend?
				(Only) Men at Work
				Context Beware
			Troublesome Prices
				Finding Prices
				Building Consumption Baskets
				Accounting for Short-Run and Long-Run Changes
				Missing Consumption
		Conclusions: The Future of the Past
		References
	British Economic Growth and Development
		Introduction
		From the Domesday Survey to the Late Thirteenth Century
		British Economic Development, 1270-1870
			Data Sources, 1270-1870
			British Economic Growth, 1270-1870
			Britain in International Comparative Perspective, 1000-1870
			Structural Change, 1270-1870
			Accounting for British Economic Growth, 1270-1870: Proximate Causes
			Accounting for British Economic Growth, 1270-1870: Fundamental Causes
			An Alternative Malthusian View
		The UK Economy Since 1870: Convergence and Divergence
			Data Sources Since 1870
			UK Economic Growth Since 1870
			The United Kingdom Since 1870 in International Comparative Perspective
			Structural Change Since 1870
			Accounting for UK Economic Growth Since 1870: Proximate Causes
			Accounting for UK Economic Growth Since 1870: Fundamental Causes
		Conclusion
		References
			Online Databases
			Books and Articles
	Urban Growth
		A Short History of Urban Growth
			Antiquity to 1000 CE
			1000-1850
			1800-Present
			Africa
		An Overview of Theory
			von Thünen, the Taproot
			Central Place Theory
			Location Theory
		How Urban Growth Is Measured
			Population and Demographic Data
			The Rank-Size Rule (Zipf´s Law)
		A Few Words About Data Sources
		Selected Topics
			Sanitation
			Amenities and Disamenities
			Education
			Transportation
			Fire and Other Natural Disasters
		Conclusion
		Bibliography
	Regional and Urban Development in Europe
		Introduction
		Data
			Prehistoric and Ancient Data
			Medieval and Early Modern Data Sources
			Sources of the Nineteenth and Twentieth Century
		Methodology
		From Rome to the EU
		Very Long-Run Roots of Regional Disparities
		The Role of the Church
		Crises, Conflicts, and Epidemics
		Preindustrial Innovations
		Institutions and State Capacity
		Europe Trades; Therefore, She Is?
		The Industrial Takeoff
		Conclusion and Outlook
		References
	Religion and Cliometric Analysis
		Introduction
		Religion and Human Capital Accumulation in History
		Religion and Historical Political Economy
		Conclusion
		References
	Labor Share, Capital Share, and Rents: A Macrohistorical Perspective
		Introduction
		Methodological and Empirical Issues on Income Distribution
			Methodological Issues: Revenue vs. Compensation
			The Unobserved Drivers of Factor Shares
			Issues in Measuring the Labor Share
		Theoretical Framework for Handling Distribution
			The Aggregate Production Function and Technology
			Cost Minimization and Factor Shares Derivation
		Explaining Changes in Labor and Capital Shares
			Capital Intensity (K/L)
			Relative Costs of Labor and Capital (W/R)
			Technology
				Labor- and Capital-Augmenting Technology
				Automation and the Share of Labor-Based Tasks
		Rents and Markup
			Profit Shares as Non-allocated Value Added
			Markups Through Disaggregated Data
			Main Results and Explanations
		The Consequences of Labor and Capital Share Change
			Income and Wealth Inequality in the Long Run
			Growth in the Long Run
			Welfare in the Long Run
		Conclusion
		Appendix
			Production Function and Elasticity of Substitution Value
			Cost-minimization Problem
			Factor Shares Derivation
		Bibliography
Part V: Institutions
	African-American Slavery and the Cliometric Revolution
		Introduction
		Conrad and Meyer
		Following Conrad and Meyer
		Self-Sufficiency of the Plantation
		The Interstate Slave Trade and Slave Breeding
		Economic Growth and Manufacturing Development of the South
		The Debate Over Time on the Cross
		The Relative Efficiency of Slavery
		Economies of Scale and Gang Labor
		The Stability of the Black Family
		After the Controversy
		Group Sales and Price Discounts in the Market for Slaves
		Biological Innovation and Southern Agricultural Development
		An Assessment
		References
	Institutions
		Introduction
		What Are Institutions?
		The Effect of Institutions
		The Impact of Institutions on Economic Growth
		Criticisms of the Claims for Institutions
		Explaining Institutional Change
		New Directions
		Conclusion
		Cross-References
		References
	Political Economy
		Introduction
		The Introduction of Political Economy into Cliometrics
		A Thematic Overview
			Origins of the State
			City-States and Republics
			Medieval States and Feudal Institutions
			Labor Coercion
			Conflict and Consensus
			Warfare
			State Finances
			Patterns of Political Fragmentation and Political Centralization
			Religion and Religious Institutions
			State Capacity
		Case Studies
			The Glorious Revolution
			The Political Economy of Empire
			The Consequences of the French Revolution
			Revolution, Democracy, Public Goods
		Concluding Comments
		References
	Merchant Empires
		Introduction
		International Trade in Early Modern Europe
			Trade
			Administration
			Defense
		Contrasting Empires
			A Model of Organizational Choice
			Historical Context of the Emergence of Merchant Empires
			Different Firms
		The Demise of the Companies and the Rise of Colonialism
		Conclusion
		References
	Colonial America
		Introduction
		Economic Performance and Living Standards
			Income at the End of the Colonial Period
			Economic Growth
			Wealth Accumulation
		The Colonial Economy
			Regional Differentiation in the Colonial Economy
			Free and Unfree Labor in the Colonies
		Institutions and Colonial Economic Development
			Institutions and Economic Development
			Institutions in Colonial America
		The Colonial Monetary System
		The Colonies Within the British Empire
			Mercantilism
			Regional Variation Within the Colonies
		Economics, Politics, and Revolution
		After the Revolution: American Independence
		Conclusion
		References
	Property Rights to Frontier Land and Minerals: US Exceptionalism
		Introduction
		The Economic Institutions of Property Rights
		Social and Political Institutions of Property Rights: Pre-frontier
		Property Rights to Land on the US Frontier
		Colonial Property Rights to Land
		Federal Property Rights Policies for Land
		The Private Provision of Public Goods by Land Owners
		Property Rights to Minerals and Oil and Gas Deposits
		Property Rights on Latin American Frontiers
		Conclusion
		References
	Major Water Infrastructure and Institutions in the Development of the American West
		Introduction
		Westward Expansion
		The Development of the Urban West: Mining to Agriculture
		The Development of Agriculture and Water Infrastructure in the Arid West
		The Development of the Urban West: Agriculture to Urban Growth
		The Electrification of the City and Farm
		Concluding Thoughts
		Cross-References
		References
	The New Institutional Economics and Cliometrics
		Introduction
		Institutions and Norms to Economic Performance
			Transaction Costs
			Property Rights
			De Facto Property Rights
			Norms
			Institutions and Overall Economic Performance
		Economic Performance to Political Institutions
			Electoral Institutions and Economic Performance
			Special Interests
			Executive Legislative Exchange
			Bureaucracies
			Judiciary
		Beliefs, Leadership, and Critical Transitions Toward Better Institutions
			Constitutional Moments
			Institutions and Complexity Theory
		Conclusion
		References
	Cliometrics of Cotton
		The Beginnings of the Industry
			Measuring Productivity Change
			The Cause of Productivity Change
		The Mature Industry
			After the Industrial Revolution
			Why the Decline?
			Why Did Britain Persist?
		Cotton Textiles as a Laboratory for Entrepreneurism
		Conclusion
		References
Part VI: Money, Banking, and Finance
	Early Capital Markets
		Introduction
		Concepts
		Long-Distance Trade
			Precursor Solutions
			Joint-Stock Companies
			Secondary Stock Markets
		Fiscal State
			Monarchies
			Republics
		Joint-Stock Sovereign Debt
		Conclusion
		References
	Origins of the U.S. Financial System
		Introduction
		Money and Banking in Colonial America
		Revolution
		Constitution and Financial Revolution
		War of 1812 and Advent of the Second Bank of the United States
		Financial Sector Development and Growth to 1836
		Conclusion
		References
	Cliometrics and Antebellum Banking
		Introduction
		The Antebellum Bank Balance Sheet
		Bank Notes
		The Structure of the Banking System in the Antebellum Era
		The End of the Second Bank and the Jacksonian Inflation
		Free Banking and Wildcat Banking
		The Gold Inflation of the 1850s
		Conclusion
		Cross-References
		References
	Financial Markets and Cliometrics
		Introduction
		Sovereign Government Bonds
		Short-Term Commercial Finance
		Next Steps
		Concluding Remarks
		References
	Financial Systems
		What Does a Financial System Do?
		Designing Financial Systems: Functions Versus Institutions
			The Standard Paradigm of Financial System ``Types´´
				Universal Versus Specialized Banking
				Relationship Versus Arm´s-Length Banking
				Market-Based Versus Bank-Based Financial Systems
					Connections Among the Three System Dichotomies
			Classifying Historical Systems
				Universality Versus Specialization
				Relationship Versus Arm´s-Length Banking
					Bank Versus Market Orientation
				Bank Branching Versus Unit Banking
				Financial System Evolution Over the Twentieth Century
		What Causes Financial System Differences Historically?
			Theories: Economics, Law, and Politics
			Empirical Evidence
		Financial Systems and Economic Growth
			Literature on the Finance-Growth Nexus
			Financial System ``Types´´ and Long-Run Growth Patterns
		Conclusion
		References
	The Cliometric Study of Financial Panics and Crashes
		Survival Models and Hazard Functions
			Branch Banking and Duration Models
			Free Bank Failures and Cox Proportional Hazard Models
		Financial Panics and Archival Scraping
		Deposit Insurance, Efficiency, and DEA Analysis
		Fed Intervention and Difference-in-Difference Models
		The Effect of Bank Failures and Accounting for Endogeneity
			Vector Autoregression (VAR)
			Instrumental Variables (IV)
			Difference-in-Difference (DD)
		Conclusion
		References
	Payment Systems
		Coinage, Money Changers, and Deposit Banking
		Bills of Exchange
		Notes, Checks, and Clearing Houses
		Correspondent Banking Networks in Nineteenth-Century America
		The Twentieth Century
		Summary
		References
	Interest Rates
		Introduction
		The Rate of Return on Investment and the Production Function
		Theoretical and Effective Interest Rates
		Market Interest Rates: Sources and Calculation Methods
		Market Integration and Market Risk: Differences Between Rates in Several Areas
		Interest Rates and Political Regimes
		Interest Rates, Financial, and Macroeconomic Cycles
		When Interest Rates Do Not Clear Markets
		Conclusion
		References
	The Great Depression in the United States
		Introduction
		New Keynesian Macroeconomic Models
			Financial Crises
			Liquidity Traps and the New Keynesian Expectations Mechanism
		Historical Background: The American Economy at the Onset of the Great Depression
			America´s Banks
			The Federal Reserve System
			The Gold Standard and the Fed´s Monetary Policy Strategy
		The 1929-1933 Depression
			1928: The Federal Reserve Hikes Short-Term Interest Rates
			The Initial Downturn 1929-1930
			Continued Decline 1930-1933
			Federal Reserve Interest Rate Policy
			Bank Failures and the Financial Crisis of 1933
			Where Was the Lender of Last Resort?
			Aggregate Supply in the 1929-1933 Downturn: Wage Inflation, Price Inflation, and Real Wages
		The Recovery 1933-1937
			Fiscal Policy
			Revival of the Banking System
			Devaluation of the Dollar
			The National Industrial Recovery Act (NIRA)
			Aggregate Supply in the Recovery: Anomalous Inflation
		The 1937 Downturn
		Conclusion
		References
	Central Banking
		Introduction
		Early Studies of Central Banking
		Antebellum US Central Banking
		Postbellum Central Banking and Clearinghouses
		The National Banking Era and Currency Reform
		The National Monetary Commission and the Fed
		Extended Histories of Central Banking and the Fed and the Rise of Cliometrics
		The Payments System and Correspondent Banking
		Clio and Banking Databases
		Conclusions
		Cross-References
		References
	Sovereign Debt
		Introduction
		The Big Questions
			What Makes Sovereign Debt Possible?
			How Much Debt Can States Carry?
			The Nature of Defaults
			Why Does Sovereign Debt Exist at All?
		Sovereign Debt in History
			Instruments and Innovations: A Very Short Summary
			Currency of Issue
			Data Sources
		The Interplay of Theory and History
			Fiscal Sustainability
			First-Generation Reputational Models
				Sanction-Based Models
			Second-Generation Reputational Models: Cheat-the-Cheater Strategies
			Theories of Default
				Bubbles, Sentiment, and Irrationality
				Excusable Defaults
				Market Power and Incomplete Contracting
			The Preeminence of Reputation
		The Political Economy of Debt
		Conclusion
		Cross-References
		References
	Corporate Governance
		Introduction
		The Emergence and Relevance of Corporations
		The Separation of Ownership and Control
		Managerial Incentives
		Dividends
		Boards
		Product Market Competition
		Conclusion
		Cross-References
		References
	The Lender of Last Resort Under the Microscope, c. 1840-1930
		Introduction
		An Anatomy of Lender of Last Resort Operations
			The Fundamentals
			Illiquid Versus Insolvent Counterparties
		Supply Constraints on Lending of Last Resort
			Origins of Supply Constraints and Credit Rationing
			Consequences of Credit Rationing
			Remedies for Credit Rationing
		Demand Constraints on Lending of Last Resort
			Stigmatized Standing Facilities
			Limited Eligibility
		Moral Hazard and the Lender of Last Resort
		Conclusion
		References
	Bimetallism
		Introduction
		A Prototypical Example of a Bimetallic Standard
			Challenges Faced by the Prototypical System
				Changing Relative Value of Gold to Silver
				Debasement
				The Challenge of Small Denominations
				Loss of Intrinsic Content: Counterfeiting, Replicating, and Clipping; Wear and Tear
		Bimetallism in Post-Revolutionary United States and France
		The End of Bimetallism
			United Kingdom
			France and the Limping Gold Standard
			The United States and the ``Crime´´ of 1873
		Conclusion
		Bibliography
	Colonial Monetary Systems
		Introduction
		Commodity ``Monies´´: Tobacco, Wampum, Beaver Pelts, Deerskins, Grain, Country Pay
		The Effort to Foster Specie Money Imports
		Paper Monies
			Legislative-Issued Bills of Credit and Colonial Government Budget Constraints
			Legal Design and How Fiscal Credibility Governed Redemption Structure
			Value and Performance
			British Regulation and Oversight of Colonial Paper Monies
		End of a Monetary Era: The Disappearance of Bills of Credit
		References
	The International Monetary System in the (Very) Long Run
		Introduction
		Origins
		After Rome
		The Middle Ages and the Shift to Western Europe
		The Rise of the Atlantic Economy in the Age of Discoveries
		Amsterdam Leads, London Follows
		The Nineteenth-Century System
		The Great War to the Eve of World War II
		Bretton Woods
		After Bretton Woods
		Conclusion
		References
Part VII: Health and Welfare
	Anthropometrics
		Introduction
		Origins
		Methodology
		Early Applications
			American Slavery
		Diffusion
			Mortality
			Industrialization
			Inequality
			Native Americans
			Fates of Children During Crises
			Fetal Origins Hypothesis
			Colonial Rule
			Research Frontiers
		Conclusions
		Cross-References
		References
	Wealth and Income Inequality in the Long Run of History
		Introduction
		How Economic Inequality Has Changed over the Centuries
			The Medieval and Early Modern Period (From ca. 1300 to 1800)
			The Modern Period (From ca. 1800 Until Today)
			Glimpses into a More Remote Past: From Prehistory to the Classical Age
		How to Explain Inequality Change in the Long Run?
			Economic Variables
			Demography and Society
			Institutions
		Conclusions: What Lessons from History?
		References
	Agricliometrics and Agricultural Change in the Nineteenth and Twentieth Centuries
		Introduction
		Long-Run Agricultural Production and Productivity
			Increase in Production
			Growth in Productivity
		Technological Change
		The First Wave of Globalization and the Growth of Agricultural and Food Trade
			Market Integration and Agricultural Trade
			Export-Led Growth
		Agricultural Trade in the Second Wave of Globalization
		Public Intervention in the Agricultural Sector
		Agrarian Institutional Change
			Property Rights, Agrarian Contracts, and Labor
			Agricultural Cooperatives
			The Privatization of the Common Lands
		Conclusion
		References
	Nutrition, the Biological Standard of Living, and Cliometrics
		Introduction: Nutrition and the Standard of Living
		Nutrition, the Health Transition, and the Techno-Physio Evolution
		The Biological Standard of Living and the Antebellum Puzzle
		Nutrition, Stature, and Income
		Nutrition, Mortality, and Morbidity
		Nutrition and Technological Change
		Conclusion
		References
	Improvements in Health and the Organization and Development of Health Care and Health Insurance Markets
		Introduction
		Improvements in Public Health
			Water Purification and Sewage Systems
			Public Health Education and Information
			The Eradication of Parasites
			Improvements in Diet
		The Growth of the Market for Medical Care
			Reforms in Medical Education and the Changing Public Perception of Hospitals
		Occupational Licensing of Health Care Providers
			Physicians
			Midwives
		The Impact of Medical Care on Health
		Medical Costs and the Development of the Health Insurance Market
		The Impact of War on Poverty on Health Insurance
		Directions for Future Research
		Cross-References
		References
	Cliometrics of Child Health
		Introduction
		Child Health in Economics: Why Do Early Life Environments Matter?
		Short-Run Impacts
		Long-Run Impacts
		Methodologies
		Conclusions
		Cross-References
		References
	Epidemics and Pandemics: From the Justinianic Plague to the Spanish Flu
		Introduction
		The Age of Plague
			The Black Death of 1346-1352
			From the Late Middle Ages to the Early Modern Times
		Pandemics for an Industrial World: From Cholera to the Spanish Flu
			Cholera
			The Spanish Flu
		Conclusions: What Lessons for the Present, and What to Expect from the Future?
		Cross-References
		References
	Poverty, Insecurity, and Social Welfare Policy
		Introduction
		The Extent of Poverty and Insecurity
		English and American Poor Laws
		The Poor Law and Economic Growth
		Less Eligibility and the Workhouse System
		The Rise of Social Insurance
		Effects of Social Welfare Policy on Crowding Out, Behavior, Poverty, and Growth
		Conclusion
		References
	Cliometrics of Health Spending
		Introduction
		Framing Health in Economic History
		Determinants of Health Expenditures
		Historical Health Expenditures: Evidence and Trends
		Conclusion
		References
			Data Sources
	Capital, Productivity, and Human Welfare Since 1870
		Introduction
		Capital and Productivity During ``Divergence, Big Time´´
			Level Accounting
			The Proximate Determinants of Income Inequality Since 1900
				Productivity and Efficiency
				Human Capital
				Productive Capital
				Moving Forward
		The Rise of Human Welfare During the Twentieth Century
			The Limitations of Economic Indicators
			Approaches to Well-Being in Economic History
			Well-Being in Historical Perspective
				The Industrial Revolution
				Global Well-Being During the Period of ``Divergence, Big Time´´
				Moving Forward
		Conclusion
		References
Part VIII: Government
	Energy and the Environment in Economic History
		Introduction
		Background
			Energy
			Environment
		Energy
			Effects of Energy on the Spatial Location of Economic Activity
				Coal
				Electricity
			Technological Change, Energy, and Economic Activity
			Effects of Shocks to Energy on Economic Activity
			Effects of Access to Energy on Health
		Environment
			Air Pollution
				United States
				Great Britain
			Water Pollution
				United States
				Europe
		Conclusion
		References
	Cliometrics and the Great Depression
		The Great Contraction
			Why?
		The New Deal and Partial Recovery
			Measuring the Recovery
		Measuring the Success of the New Deal Policies
			Monetary Policies
			Fiscal Policy
			Alphabet Soup
		Conclusions
		References
	Cliometric Approaches to War
		Introduction
		Theme 1: Medieval and Early Modern Warfare
		Theme 2: Revolutionary and Napoleonic Wars
		Theme 3: World Wars
		Theme 4: Cold War and Beyond
		Theme 5: Long-Run Analyses: Military Spending, Societal Structures, and Empires
		Conclusion
		References
	War and Cliometrics in an Age of Catastrophes
		Introduction
		An Age of Catastrophes
		The Economics of the Great War
		The War at Sea
		The Chaos of Victory
		Economic Collapse: The Great Crash
		Russia: The Union of Soviet Socialist Republic
		Germany: The Rise of the Nazi Party
		Japan: The Empire of the Rising Sun
		Italy: Too Small to Be a Major Power
		Blitzkrieg: A New Form of War
		Barbarossa: The German Invasion of Russia
		Tora, Tora, Tora: The Japanese Attack on Pearl Harbor
		The End of the Beginning: Midway and Stalingrad
		The Economics of the Second World War
		Going ``All In´´: Gambling on War in an Age of Catastrophe
		Conclusion
		References
	Political Coercion and Cliometrics
		Introduction
		Recent Theoretical Approaches to Political Coercion
			Political Coercion for Economic Gain
				Costly Political Coercion as Deterrence
			Political Legitimacy and Coercion
				Comparative Historical Theories of Legitimacy Building
				Models of Morality Prevalence
				How Do People Respond to Political Coercion?
				Behavioral Theories of Responses to Coercion
			Constraints and Coercion
				Dynamic Constraints and Power Balances
			Empirical Founded Theories
				Political Coercion Bordering Group Conflict
				Democracy as a Means of Limiting Political Coercion
		Measuring Political Coercion in Fascist and Communist Regimes
		Conclusion
		References
Part IX: Innovation and Creativity
	Innovation in Historical Perspective
		Introduction
		The Role of ``Learning-by-Using´´
		General Purpose Technology
		Faulty Predictions
		Competition Between Old and New Technologies
		The Axiom of Indispensability
		Linear Versus Chain-Linked Models
		Conclusion
		References
	The Cliometric Study of Innovations
		Introduction
		Quantifying Innovations
		Skewed Distribution
		Explaining Innovations
		Technological Transfer
		Future Research
		References
	Arts and Culture
		Introduction
		Problems with Data and Culture
		Art Markets and Their Logic
		Geography and Art
		Capturing and Fueling Creativity
		Conclusion
		Cross-References
		References
	Cliometric Approaches to Creativity: Patents, Prizes, Copyrights, and Trademarks
		Introduction: Cliometrics and Creativity
		Patent Systems and Technological Change
			Patents, Markets in Ideas, and Inventive Activity
			Inventors and Inventions, Great and Small
		Invention Outside the Patent System
		Prizing Creativity
		Copyrights and Trademarks
		Conclusion: Looking Forward
		Bibliography
Part X: Transportation and Travel
	Transport Networks
		Introduction
		Main Problems in the Historical Analysis of Transport Networks
		General Concepts
			Networks and Origin-Destination Matrices
			Interconnected Networks
			Temporary Networks
		Metrics for Network Analysis
			Degree Centrality
			Closeness Centrality or Accessibility
			Beetweeness Centrality
			Efficiency Indexes
			Community Detection
		Conclusion
		References
	Railroads
		Introduction
		Early Railroads
		Trade and Improved Transportation
		Rail Construction and Its Geography
		Railroad Finance and Construction
		Government Intervention and Inducements
		Innovation and Productivity Change in American Railroads
		The Social Savings of Railroads
		Concluding Remarks
		References
	Clio on Speed
		Introduction
		The Transport Revolution
		Transport Improvements, Market Integration, and Trade
		Transport Improvements and Income Gains
		Transport Improvements and External Effects
		Persistence and Long-Run Impacts of Transport
		Institutions and Transport Development
		Public and Private Sector Involvement
		Conclusion
		Cross-References
		References
	Travel and Tourism
		Introduction
			Defining and Measuring Tourism
		Research on the Economic History of Tourism
			An Overview of the Economic History of Tourism
		The Demand for Tourism
			Methodological Approaches
			Elasticity Estimates
		The Impact of Tourism on Economic Growth
		The Economic History of Seaside Resorts
			The Shift from British to Spanish Seaside Resorts
		Economic History of Tourism in the United States
			Data Sets Available
			Implications of These Data
			Explaining the Rise of Domestic Tourism
			History of Tourism in Hawaii
		Conclusion
		Cross-References
		References
Part XI: Technique and Measurement
	Statistical Inference
		Introduction
		Probability and Inference in Statistics
			K. Pearson and G. U. Yule
			R. A. Fisher
			J. Neyman and E. S. Pearson
			Bayesian Probability
			Bayesian Inference
		Inference in Econometrics
			The Time Dimension
			``Clarification´´: Trygve Haavelmo
			Alternatives
		Inference for Cliometrics
			The Bayesian Origins of Cliometric Inference
			Fundamental Criticism: Rudolf Kalman
		References
			Recommended Reading
	Trends, Cycles, and Structural Breaks in Cliometrics
		Introduction
		History of Modelling Trends and Cycles in Economics
		Modelling Trends and Cycles in Economic History
		Segmented Trend Models
		Filters for Extracting Trends and Cycles
		Filters and Structural Models
		Model-Based Filters
		Structural Trends and Cycles
		Models with Correlated Components
		Multivariate Extensions of Structural Models
		Estimation of Structural Models
		Structural Breaks Across Series
		Concluding Remarks
		References
	Path Dependence
		The Meaning and Significance of Path Dependence
		The Proposed Sources and Settings of Path Dependence
			Technical Interrelatedness: The Analysis of Paul David
			Increasing Returns: The Analysis of W. Brian Arthur
			Other Analyses of Increasing Returns
		The Proposed Reasons for Skepticism About Path Dependence
			The Analysis of Liebowitz and Margolis
			Responses to the Skeptics
		Later Analyses of Path Dependence
		The Disputed Case of QWERTY
			David´s Analysis
			Liebowitz´s and Margolis´s Analysis
			Kay´s Analysis
		Britain´s Coal Cars
		Videocassette Recording Systems
		Information Technologies
		Economic Geography
		Institutional Change
		Nuclear Power Reactors and Pest Control
		Railway Track Gauge
		Conclusion
		References
	Analytic Narratives
		Introduction
		The Five Studies of Analytic Narratives
		Some Defining Characteristics of Analytic Narratives
		Analytic Narratives from Military and Security Studies
		Analytic Narratives and Deductive Explanation
		The Role of Narration in Analytic Narratives
		Conclusion
		Cross-References
		References
	Spatial Modeling
		Introduction
		Basic Structures
			Monads and Dyads
			Actors
			Distance
		Modeling Spatial Correlation
			Spatial Randomness
			Join-Count Statistics
			Moran I
			Usage
			Measures of Specialization
		The Development of Spatial Modeling
			History and First and Second Nature Geography
		Formal Modeling
			Preferences
				Homogeneous Versus Differentiated Goods
				Single Versus Multiple Sectors
				Exogenous and Endogenous Amenities
				Fixed Local Factors in the Utility
				Common Versus Idiosyncratic Preferences
			Production Technology
				Constant Versus Increasing Returns
				Exogenous and Endogenous Productivity Differences
				Input-Output Linkages
				Fixed Local Factors in Production
			Trade
				Variable Versus Fixed Trade Costs
				Geographic Versus Economic Frictions
				Asymmetric Versus Symmetric Transport Costs
				Role of Non-traded Goods
			Technology and Idea Flows
				Knowledge Externalities and Diffusion
				Innovation
				Transferability of Ideas
			Labor Movements
				Migration Costs
				Commuting
				Skills and Heterogeneity
				Congestion in Transportation
			Endowments
				Spatial Scope and Units
			Population and Skills
				Capital and Infrastructure
			Equilibrium
			Implementation
		Alternative Approaches
		Cross-References
		References
	Historical Measures of Economic Output
		Introduction
		The Logic and Early History of National Income and Output Estimation
		US Estimates of Output and Income Prior to the Second Half of the Twentieth Century
		Conclusion
		References
	The Census of Manufactures: An Overview
		Introduction
		Early Nineteenth-Century COMs
		Late Ninetieth-Century COMs
			Atack-Bateman-Weiss Sample
			Value for Understanding the Development of the American Economy
		Great Depression COMs
			Bresnahan-Raff Sample
			Vickers-Ziebarth Sample
			Value for Understanding Business Cycles
		Modern COMs
			Background on the Modern COM Instrument
			Research from the Modern COM
		Directions for Future Work
		References
	Decolonizing with Data
		Introduction
		Fortunes, Reversed and Revised
		Deep Roots of Divergent Development
		The Slave Trades: Causes, Consequences, and Controversies
		Colonialism and Independence
		Decolonizing with Data
		Conclusion
		References
	Digital Methods in Economic History: The Case of Computational Text Analysis
		Introduction
		Computational Text Analysis: Status Quo
			Concept
			Applications
		Case Study: The Common History of Economic History and Economics
			JEL-Codes Versus Topic Models
			Data and Model Specification
			Results (Macro-Level)
			Results (Micro-Level)
		Outlook and Conclusion
		References
	Quantitative Economic Geography and Economic History
		Introduction
		From Theory to Empirics: Industry, Market Size, Wages, and Factors of Production
		Understanding the Strength of Agglomeration Forces Over Time: A Dynamic View
		NEG and Regional Incomes
		Regional Inequality and Economic Geography: New Historical Evidence, New Hypotheses
		Economic Geography and Regional Growth: Avenues for Future Research
		References
	How Machine Learning Will Change Cliometrics
		Introduction
		What Is Machine Learning?
			General
			Specific Terms
			Methods
		Machine Learning, a New Tool for Solving Well-Understood Empirical Problems
			Improving Causal Estimates
			Addressing the Curse of Dimensionality
			Creating or Completing Datasets
			Generating a Crucial New Variable for Use in Conventional Regression Frameworks
		Machine Learning, a New Lens for Illuminating the Flow of History
			Developing the Broad Picture
			Distilling Fascinating Facts from the Broad Picture
			Predicting History?
			Unearthing Buried Interconnections
			Seeing the Past
		A Machine Learning Odyssey Through English History
			From Interest in English History to Curiosity About ML
			Testing the ML Waters
			Recognizing the Potential of ML
			On to Caselaw
			Interpreting the Estimates
			Interpreting the Flow of Legal History
			Beyond Descriptive
			Culture
		Not a Conclusion
		References
	Historical Datasets
		Introduction
		What Is a Historical Dataset?
			Selectivity Issues
		Building a Historical Dataset
			Identification of the Relevant Information
			Collection
			Synthesis and Data Cleaning
		Historical Datasets: A Variegated World
		New Tools for New Problems
		A Case Study: Historical Datasets of Wages
			How Were the Early Collections of Wage Data Structured?
			How Did the Historical Wage Datasets Change Over Time?
				Quantity-Quality Trade-Off
				Aggregation
		Conclusions
		References
Index