This paper advances a highly tractable model with search theoretic foundations for money and neoclassical growth. In the model, manufacturing and commerce are distinct and separate activities. In manufacturing, goods are efficiently produced combining capital and labor. In commerce, goods are...

This paper explores the effects of monetary shocks on the allocation of factors of production. We analyze these effects when money plays a role in improving the timing of the transactions undertaken by entrepreneurs. Such improvement is facilitated by money? important role in providing liquidity...

The paper's thesis is that the chief causes for the well-known `industrial crisis' of the traditional English textile towns during the period c.1290 - c.1340 was not the emergence of supposedly superior, lower-cost rural competition, as is generally supposed, but rather a far-reaching economic...

In 1795, the French Revolutionary government, in establishing our modern metric system, also established the metric values for the historic European mint weights of the ancien regime era. If those mint-weights are undoubtedly valid for the 18th century, can we be certain that all had remained...

This paper, a contribution to the 'proto-industrialisation' debate, examines the relative advantages of urban and rural locations for cloth manufacturing in later-medieval England and the Low Countries. From the 11th to the mid-14th century, when the English cloth trade began its seemingly...

Inspired by Gerschenkron's thesis, this paper contends that conditions of institutional 'backwardness' in late-medieval England stimulated legal innovations to provide the foundations for negotiability in international financial instruments. Though late-medieval England was not 'backward' in the...