Zombie International Currency: The Pound Sterling 1945–1971
Abstract: This paper examines the international role of sterling during the Bretton Woods era and argues that it was not a competitor to the U.S.
Welcome to our archive of working papers, articles and monographs written by CEPH members.
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Abstract: This paper examines the international role of sterling during the Bretton Woods era and argues that it was not a competitor to the U.S.
Abstract: We investigate the effects of forced migration on sending economies using the post-WW2 expulsion of German minorities from Hungary as a natural experiment. We
Abstract: This paper shows that nineteenth-century industrialization is an essential determinant of the pronounced changes in economic prosperity across German regions over the last 100
Abstract: In the early sixties, the U.S. and U.K. balance of payments deficits threatened the stability of Bretton Woods international monetary system. Jacques Rueff campaigned
Abstract: We examine the Netherlands around the Second World War, where the occupying Nazi regime overhauled the country’s corporate tax regime and introduced a profit
Abstract: How did countries recover from the Great Depression? In this paper, we explore the argument that leaving the gold standard helped by boosting inflationary
Abstract: What are the insights from historical pandemics for policymaking today? We carry out a systematic review of the literature on the impact of pandemics
Abstract: There has still been too little detailed work on the protectionism that emerged in the wake of the Great Depression. In this paper we
Abstract: We study the impact of the Italian Civil War and Nazi occupation of Italy in 1943–45 on postwar political outcomes. The Communist Party, which
Abstract: We explore the role of elites for development and the spread of industrialized dairying in Denmark in the 1880s. We demonstrate that the location
Abstract: This paper asks whether history should change the way in which economists and economic historians think about populism. We use Müller’s definition, according to
Abstract: We introduce a new database of historical Genuine Savings (GS), an indicator of sustainable development promoted by the World Bank and widely used in
Summary: Nationalists think about the economy, Marvin Suesse argues, and this thinking matters once nationalists hold political power. Many nationalists seek to limit global exchange,
Abstract: This paper revisits the Swedish banking crisis (1919-26) that materialized as post war deflation replaced wartime inflation (1914-18). Inspired by Fisher’s ‘debt deflation theory’,
Abstract: In September 1992, the UK was forced to withdraw from the exchange rate mechanism of the European Monetary System, as it was unable to
Abstract: We exploit a large historical shock to the Danish labour market to provide evidence of how restrictions on labour mobility increase monopsony power and
Abstract: The close of the First World War signalled a proliferation of newly established nation-states across Europe. However, the unilateral proclamations of these states’ independence
Abstract: Pro-market and pro-farmer agrarian reforms enacted in eighteenth century Denmark laid the basis for rural development but we demonstrate that they also resulted in
Abstract: This chapter written for the Oxford Handbook of Historical Political Economy argues that you cannot understand the history of globalization without taking political factors
Abstract: The public mechanical clock and movable type printing press were arguably the most important and complex technologies of the late medieval period. We posit
Abstract: Firms in tradable sectors are more likely to be subject to external competition to limit market power, while nontradable firms are more dependent on
Abstract: Folklore is the collection of traditional beliefs, customs, and stories of a community passed through the generations by word of mouth. We introduce to
Abstract: Bubbles have become ubiquitous. This ubiquity has stimulated research over the past three decades into bubbles in history. In this article, we provide a
Abstract: We revisit Max Weber’s hypothesis on the role of Protestantism for economic development. We show that nationalism is crucial to both, the interpretation of
Abstract: What determines the development of rural financial markets? Starting from a simple theoretical framework, we derive the factors shaping the market entry of rural
Abstract: Despite the significant attention paid to the current consequences of globalization for migration behavior, there are few historical accounts of the effect of commodity