Control of livestock disease had large spillover effects on human health. By 1900 the United States was a leader in livestock disease control, thanks to the efforts of the Bureau of Animal Industry. Its first chief, Daniel Salmon, established a model that would be copied around the world in campaigns against human and animal diseases. For the most part, the Progressive Era regulations to advance livestock health and food safety were spectacular successes. The bureau's main blunder was its failure to deal effectively with trichinosis, which was far more widespread than generally believed.

Peru's experience with sovereign debt during the guano boom is one of the most remarkable in the nineteenth century. Despite the country's ongoing political instability and poor capital market reputation, the price of Peruvian bonds soared shortly after settlement in 1849, and the country enjoyed relatively low credit risk until the 1870s. This article discusses the incentives Peru and its creditors faced, and explains how Peru's extraordinary performance in financial markets was founded on its credible commitment to service its debt with the guano proceeds.

According to conventional income measures, American and British industrial workers in the late nineteenth century were two to four times as wealthy as those in developing countries today. Estimated calorie expenditure elasticities of American and British industrial workers based on the 1888 Cost of Living Survey are greater than calorie elasticity estimates for developing countries today, which suggest that yesterday's wealthy workers were hungrier than today's poor. The result is robust to numerous criticisms. The finding implies an extraordinary improvement in nutritional well-being among the poor in the last century that has not been captured by our income estimates.

This article estimates the development of manuscripts and printed books in Western Europe over the course of thirteen centuries. As these estimates show, medieval and early modern book production was a dynamic economic sector, with an average annual growth rate of around one percent. Rising production after the middle of the fifteenth century probably resulted from lower book prices and higher literacy. To explain the dynamics of medieval book production, we provide estimates for urbanization rates and for the numbers of universities and monasteries. Monasteries seem to have been most important in the early period, while universities and laypeople dominated the later medieval demand for books.

Bank distress peaked in New York City, at the center of the United States money market, in July and August 1931, when the banking crisis peaked in Germany and before Britain abandoned the gold standard. This article tests competing theories about the causes of New York's banking crisis. The cause appears to have been intensified regulatory scrutiny, which was a delayed reaction to the failure of the Bank of United States, rather than the exposure of money center banks to events overseas.

By combining new archival and existing data, this article provides estimates of the economic impact of the 1755 Lisbon earthquake, the largest natural catastrophe ever recorded in Europe. The direct cost of the earthquake is estimated to be between 32 and 48 percent of the Portuguese GDP. In spite of strict controls, prices and wages remained volatile in the years after the tragedy. The recovery from the earthquake also led to a rise in the wage premium of construction workers. More significantly, the earthquake became an opportunity to reform the economy and to reduce the economic semi-dependency vis-à-vis Britain.

Managerial firms and cartels were central components of the German economy during the late nineteenth and early twentieth century. Based on stochastic frontier regressions, we show for a sample of coal mining corporations and the period 1881–1913 that cartelization did not affect productive efficiency. Bonuses paid to board members, however, did increase the efficiency of coal mining firms. Thus, one pillar of the German economic model did not negatively affect economic efficiency, whereas another pillar had a positive impact. Furthermore, our results suggest that coal was mined with slightly decreasing returns to scale.