The Great Kanto Earthquake occurred on 1 September 1923 and inflicted serious damage on Yokohama City. About 90 percent of the factories in Yokohama City were burnt down or completely destroyed. However, these manufacturing industries appear to have swiftly recovered in the aftermath of the damage. This article investigates the role of creative destruction due to the Great Kanto Earthquake. Using firm-level data on capital (horsepower of motors) before and after the earthquake, we find substantial creative destruction, that is, upgrade of machine technology and/or survival of efficient firms. We find further collaborating evidence of this at the prefecture level.

In an attempt to divide and marginalize the black population, the apartheid regime forcefully relocated some 3.5 million South Africans to rural homelands between 1960 and 1980. This event, considered one of history’s largest social engineering exercises, created overcrowded and economically deprived communities of displaced people. This article uses geo-coded data to explore the long-term effects of removals on current measures of social capital. Comparing people within the same homeland, I show that those living close to former resettlement camps have higher levels of trust towards members of their social network, people in general, and members of other ethnic groups. These findings are important, as solidarity among suppressed people is believed to be a critical factor in explaining the demise of the apartheid regime.

Evidence of an early modern “Little divergence” in real wages between northwestern Europe and the rest of the continent is mostly based on the comparative study of a sample of leading European cities. Focusing on France and England this study reassesses the debate from a country-level perspective. The findings challenge the notion of an early modern divergence pointing to the coexistence of both divergence and convergence phases until the eighteenth century. Results also suggest that the real wages of a significant share of the French male labor force were broadly on par with the levels prevailing in England before c.1750.

Ireland on the eve of the Great Famine was a poor and backward economy. The Great Irish Famine of the 1840s is accordingly often considered the classic example of Malthusian population economics in action. However, unlike most historical famines, the Great Famine was not the product of a harvest shortfall, but of a major ecological disaster. Because there could be no return to the status quo ante, textbook famine relief in the form of public works or food aid was not enough. Fortunately, in an era of open borders mass emigration helped contain excess mortality, subject to the limitation that the very poorest could not afford to leave. In general, the authorities did not countenance publicly assisted migration. This article discusses the lessons to be learned from two exceptional schemes for assisting destitute emigrants during and in the wake of the famine.

I present evidence that shocks to the Medieval English harvest persisted. Hypothesized mechanisms include varying supplies of seed corn and other complementary harvest inputs. Peasants are modeled as trading off current consumption against grain stores and sow rates so that subsistence-level shocks may persist. For my sample I find that a failed harvest increased the probability of subsequent harvest failure by 20–30 percent. Grain yields are analyzed as a strongly balanced panel by year, manor, and crop. While I reject the hypothesis that harvests were self-contained annual events, I caution against linking harvest persistence directly to runs in grain prices.

Focusing on the first half of the twentieth century, we explore the rise and fall of pellagra (a disease caused by inadequate niacin consumption) in the American South. We first consider the hypothesis that the South’s monoculture in cotton undermined nutrition by displacing local food production. Consistent with this hypothesis, a difference in differences estimation shows that after the arrival of the boll weevil, food production in affected counties rose while cotton production and pellagra rates fell. The results also suggest that after 1937 improved medical understanding and state fortification laws helped eliminate pellagra.

The article surveys three economic history literatures that can speak to contemporary challenges to globalization: the literature on the anti-globalization backlash of the nineteenth century, focused largely on trade and migration; the literature on the Great Depression, focused largely on capital flows, the gold standard, and protectionism; and the literature on trade and warfare.

Cameroon was partitioned between France and the United Kingdom after WWI and then reunited after independence. I use this natural experiment to investigate colonial legacies in education, using a border discontinuity analysis of historical census microdata from 1976. I find that men born in the decades following partition had, all else equal, one more year of schooling if they were born in the British part. This positive British effect disappeared after 1950, as the French increased education expenditure, and because of favoritism in school supply towards the Francophone side after reunification. Using 2005 census microdata, I find that the British advantage resurfaced more recently: Cameroonians born after 1970 are more likely to finish high school, attend a university, and have a high-skilled occupation if they were born in the former British part. I explain this result by the legacy of high grade repetition rates in the French-speaking education system and their detrimental effect on dropout.

This study provides new evidence on top income shares in Germany from industrialization to the present. Income concentration was high in the nineteenth century, dropped sharply after WWI and during the hyperinflation years of the 1920s, then increased rapidly throughout the Nazi period beginning in the 1930s. Following the end of WWII, German top income shares returned to 1920s levels. The German pattern stands in contrast to developments in France, the United Kingdom, and the United States, where WWII brought a sizeable and lasting reduction in top income shares. Since the turn of the millennium, income concentration in Germany has been on the rise and is today among the highest in Europe. The capital share is consistently positively associated with income concentration, whereas growth, technological change, trade, unions, and top tax rates are positively associated in some periods and negative in others.

I compare rates of intergenerational occupational mobility across four countries in the late nineteenth century: 1869–1895 Argentina, 1850–1880 United States, 1851–1881 Britain, and 1865–1900 Norway. Argentina and the United States had similar levels of intergenerational mobility, and these levels were above those of Britain and Norway. These findings suggest that the higher mobility of nineteenth-century United States relative to Britain might not have been a reflection of “American exceptionalism,” but rather a manifestation of more widespread differences between settler economies of the New World and Europe.

We provide the first estimates of immigrant residential segregation between 1850 and 1940 that cover the entire United States and are consistent across time and space. To do so, we adapt the Logan–Parman method to immigrants by measuring segregation based on the nativity of the next-door neighbor. In addition to providing a consistent measure of segregation, we also document new patterns such as high levels of segregation in rural areas, in small factory towns and for non-European sources. Early twentieth-century immigrants spatially assimilated at a slow rate, leaving immigrants’ lived experience distinct from natives for decades after arrival.

The origins of the Italian North-South divide have always been controversial. We fill this gap by estimating a new dataset of real wages (Allen 2001; Allen et al. 2011) from Unification (1861) to WWI. Italy was very poor throughout the period, with a modest improvement since the late nineteenth century. This improvement started in the Northwest industrializing regions, while real wages in other macro-areas remained stagnant. The gap Northwest/South widened until the end of the period. Focusing on the drivers of regional trends, we find that human capital formation exerted strong positive effect on the growth of real wages.

The Gold Pool was probably the most ambitious case of central bank cooperation in history. Major central banks pooled interventions to stabilize the dollar price of gold. Why did it collapse? From at least 1964, the fate of the Pool was, in fact, tied to sterling, the first line of defense for the dollar. Sterling’s devaluation in November 1967 eventually spurred speculation and unbearable losses for the Pool. Inflationary U.S. policies were weakening confidence in the dollar. The demise of the Pool provides a striking example of contagion between reserve currencies and the limits of central bank cooperation.

Puerto Rico became an American colony in 1898, achieving self-rule after the Great Depression. The standard view is that Puerto Rican living standards stagnated before the policy changes of the New Deal and it has lost ground on the mainland since the early 1970s. I show these claims are mistaken. Using a new GDP index for 1900 to 1940, I show that income per capita grew at impressive rates during direct American rule and Puerto Rico escaped the worst ravages of the Great Depression. In addition, I find the recent growth slowdown is partly a statistical artifact.

One important, but overlooked, risk mitigation device that facilitated the growth of the slave trade in the eighteenth century was the increasing availability of insurance for ships and their human cargoes. In this article we explore, for the first time, the relative cost of insurance for British slave traders, the underlying processes by which this key aspect of the business of slavery was conducted, and the factors behind price and other changes over time. Comparisons are also drawn with the transatlantic slave trades of other nations. As well as analyzing the business of underwriting slave voyages, we have two other objectives. First, we explore the meaning of slave insurance from the perspective of those directly involved in the trade. Was it about insuring lives or goods? Second, we provide new estimates of the importance of the slave trade to U.K. marine insurance. Did the former drive the growth of the latter, as Joseph Inikori has claimed?

After adjusting for sample-selection bias, I find a net decline in average stature of 0.64 inches in the birth cohorts of 1832–1860 in the United States. This result supports the veracity of the Antebellum Puzzle—a deterioration of health during early modern economic growth in the United States. However, this adjustment alters the trend in average stature in the same cohort range, validating concerns over bias in the historical heights literature. The adjustment is based on census-linked military height data and uses a two-step semi-parametric sample-selection model to adjust for selection on observables and unobservables.

Of the millions of Indians who migrated internationally in the long nineteenth century, over one million went as indentured servants in a massive South-South migration. I test how price volatility in origin markets in India affected out-migration under indentureship contracts from 1873–1916 to four major destinations around the world. Using new, unique district-level flows calculated from roughly 250,000 individual records, I show that indentureship take-up is consistent with migrating to escape local price volatility.

With more than 30 million people moving to North America during the Age of Mass Migration (1850–1913), governments feared that Europe was losing its most talented workers. Using new data from Ireland in the early twentieth century, I provide evidence to the contrary, showing that the sons of farmers and illiterate men were more likely to emigrate than their literate and skilled counterparts. Emigration rates were highest in poorer farming communities with stronger migrant networks. I constructed these data using new name-based techniques to follow people over time and to measure chain migration from origin communities to the United States.

This article describes and measures how the Bank of Amsterdam supplied a successful fiat money in a world of specie by offering the unlimited repo of large coins at a near-zero rate. Our data from 1736 to 1791 finds that such liberal access led to volatile loan levels and that the Bank responded with sterilization by means of open market operations. In this way, the Bank held its money stock at a roughly constant level and helped stabilize its value. Profit was another part of the Bank’s policy framework, and the pursuit of seigniorage eventually compromised stabilization.

This article presents evidence that cultural proximity between the exporting and the receiving countries positively affects the adoption of new institutions and the resulting long-term economic outcomes. We obtain this result by combining new information on pre-Napoleonic principalities with county-level census data from nineteenth-century Prussia. We exploit a quasi-natural experiment generated by radical Napoleonic institutional reforms and the deeply rooted cultural heterogeneity across Prussian counties. We show that institutional reforms in counties that are culturally more similar to France, in terms of religious affiliation, generate better long-term economic performance.