The purpose of this paper is to explain the causes of long-run movements in the parallel market premium in the pre-and-post revolution Iranian economy. The paper suggests that the premium is affected by both real and monetary shocks. Non-spurious co-integration results indicate that negative oil revenue shocks and a revolution-induced exogenous capital outflow caused the parallel market paralle...

The Industrial Revolution decisively changed economy wide productivity growth rates. For successful economies, measured efficiency growth rates increased from close to zero to close to 1% per year in the blink of an eye, in terms of the long history of humanity, seemingly within 50 years of 1800 in England. Yet the Industrial Revolution has defied simple economic explanations or modeling. This ...

In pre-industrial economies labour supply curves often bend backwards at very low levels of income. This changed prior to the industrial revolution: total working hours increased (De Vries (1993, Voth (1998,2000). This paper examines this industrious revolution using a model of labour supply where consumption takes time. This analytical framework enables us to draw a distinction between a pessi...

Let us approach our topic by a methodical stab at its component parts, moral tradition and moral revolution, each of which also has their constituents: moral, tradition and revolution. Since tradition appears to be central, I start with an analysis of the term. Then I argue simply that a moral tradition is not self-justifying and certainly not just on account of its longevity. My major issue ho...

The Darwinian revolution is generally taken to be one of the key events in the history of Western science. In recent years, however, the very notion of a scientific revolution has come under attack, and in the specific case of Charles Darwin and his Origin of Species there are serious questions about the nature of the change (if there was such) and the specifically Darwinian input. This article...

In the 19th century, the United Kingdom began a period of economic transformation known as the Industrial Revolution. While the typical reader may think of Dickensian mills when hearing of the Industrial Revolun the 19th century, the United Kingdom began a period of economic transformation known as the Industrial Revolution. It’s commonly believed that this era opened as new inventions improved...

As one of the most destructive socio-political upheavals in the history of contemporary China, the Cultural Revolution (1966-1976) incentivized people to snitch on each other to signal loyalty to the Party. This paper identifies the causal effect of exposure to Cultural Revolution on social trust, taking advantage of both cohort and regional variation. Specifically, the regional intensity varia...

The Industrial Revolution-a Useful Abstraction In the past years, there have been more and more voices that claim, to rephrase Coleman (1983), that the Industrial Revolution is "a concept too many." 2 The feeling is that the term is either too vague to be of any use at all or that it produces false connotations of abrupt change comparable in its suddenness to the French Revolution. The main int...