Unlike most existing textbooks on the economic history of modern Europe, which offer a country-by-country approach, The Cambridge Economic History of Modern Europe rethinks Europe's economic history since 1700 as unified and pan-European, with the material organised by topic rather than by...

household. In a Malthusian world, this translated into lower population pressure, raising average wages by up to a quarter. The Black Death thus set into motion a virtuous circle of higher wages and fertility decline that underpinned Europe’s high per capita incomes. We demonstrate the...

During the Greek debt crisis after 2010, the German government insisted on harsh austerity measures. This led to a rapid cooling of relations between the Greek and German governments. We compile a new index of public acrimony between Germany and Greece based on newspaper reports and internet...

What determines risk-bearing capacity and the amount of leverage in financial markets? Using unique archival data on collateralized lending, we show that personal experience can affect individual risk-taking and aggregate leverage. When an investor syndicate speculating in Amsterdam in 1772 went...

Major bubble episodes are rare events. In this paper, we examine what factors might cause some asset price bubbles to become very large. We recreate, in a laboratory setting, some of the specific institutional features investors in the South Sea Company faced in 1720. Several factors have been...

This book provides a fresh assessment of the impact of the First World War on the international economy. Leading academics offer new perspectives on the effects of the War on the long-term growth rates of the belligerent countries and examine its impact on individual sectors within these economies.

What determines risk-bearing capacity and the amount of leverage in financial markets? Using unique archival data on collateralized lending, we show that personal experience can affect individual risk-taking and aggregate leverage. When an investor syndicate speculating in Amsterdam in 1772 went...

We analyze the emergence of the first socioeconomic institution in history limiting fertility: west of a line from St. Petersburg to Trieste, the European Marriage Pattern (EMP) reduced childbirths by approximately one-third between the fourteenth and eighteenth century. To explain the rise of...

Western Europe surged ahead of the rest of the world long before technological growth became rapid. Europe in 1500 already had incomes twice as high on a per capita basis as Africa, and one-third greater than most of Asia. In this essay, we explain how Europe's tumultuous politics and deadly...

Contingent sovereign debt can create important welfare gains. Nonetheless, there is almost no issuance today. Using hand-collected archival data, we examine the first known case of large-scale use of state-contingent sovereign debt in history. Philip II of Spain entered into hundreds of...