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  1. Poverty and crime in 19th century Germany
    a reassessment
    Author: Traxler, Christian; Burhop, Carsten
    Published: 2010
    Publisher:  Max Planck Inst. for Research on Collective Goods, Bonn

    Using panel data for Prussia during 1882 to 1910, we replicate Mehlum, Miguel, and Torvik's (2006) study on the causal effect of poverty on crime in 19th century Germany. In addition, our data set allows us to make several original contributions to... more

    Location:
    Staats- und Universitätsbibliothek Bremen
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    Location:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 62 (2010,35)
    Inter-library loan:
    No inter-library loan

     

    Using panel data for Prussia during 1882 to 1910, we replicate Mehlum, Miguel, and Torvik's (2006) study on the causal effect of poverty on crime in 19th century Germany. In addition, our data set allows us to make several original contributions to the literature. We confirm the robust positive effect of poverty on property crime. Employing the rye price as a proxy for poverty, we show that the effect is less pronounced for provinces with a large agricultural sector. As Mehlum et al., we also find a strong negative impact of poverty on violent crime. However, once we account for beer consumption, this effect vanishes. -- Crime ; Poverty ; rye price ; beer ; weather ; Prussia

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/57471
    RVK Categories: PH 2360 ; PH 8520
    Series: Preprints of the Max Planck Institute for Research on Collective Goods ; 2010,35
    Subjects: Armut; Kriminalität; Alkoholkonsum; Gewalt; Sozialgeschichte; Schätzung; Preußen
    Scope: Online-Ressource (PDF-Datei: 15 S., 413 KB)
  2. Transaction costs, liquidity and expected returns at the Berlin stock exchange, 1892-1913
    Author: Burhop, Carsten; Gelman, Sergey
    Published: 2010
    Publisher:  Max Planck Inst. for Research on Collective Goods, Bonn

    We estimate effective spreads and round-trip transaction costs at the Berlin Stock Exchange for the period 1892-1913 using daily stock market returns for a sample of 27 stocks. Our results show that transaction costs at the main stock exchange in a... more

    Location:
    Staats- und Universitätsbibliothek Bremen
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 62 (2010,20)
    Inter-library loan:
    No inter-library loan

     

    We estimate effective spreads and round-trip transaction costs at the Berlin Stock Exchange for the period 1892-1913 using daily stock market returns for a sample of 27 stocks. Our results show that transaction costs at the main stock exchange in a bank-based financial system at the turn of the 20th century were quite low and about comparable to transaction costs in modern markets. Nonetheless, transaction costs varied substantially over time and across securities, whereby the cross-sectional variation could be substantially explained by firm size and time variation by crises. Furthermore, we find surprising evidence that transaction costs decrease the expected excess returns. Thereby size and momentum premia are of expected signs while market beta has no significant influence on the cross-sectional return variation. -- Transaction Costs ; Effective spreads ; Economic History ; Germany

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/38855
    Series: Preprints of the Max Planck Institute for Research on Collective Goods ; 2010,20
    Subjects: Geld-Brief-Spanne; Börsenkurs; Wertpapierhandel; Transaktionskosten; Kapitaleinkommen; Erwartungsbildung; Marktliquidität; Börsengeschichte; Deutschland (bis 1945)
    Scope: Online-Ressource (25 S.), graph. Darst.