New Economic History Research Articles

Civilization and Its Discounts

Recent breakthroughs in the history and sociology of science have begun to help us to appreciate the vast complexity and intricate character of empirical endeavours in the sciences. The days when philosophers could blandly gesture towards “observation statements” or “falsification,” as if they were some readily understood phenomena or set of procedures, are gone, happily. This does not mean we can merely use the Duhem-Quine thesis as a shibboleth, however: we are now much more sensitive to immense difficulties in establishing viable claims to replication (Chen 1994) or establishing the absence of selectivity bias, or convincing others of adequacy of experimental controls. Yet, even so, I would still assert that modern science studies, with only a very few exceptions, have ignored the problem of the constitution of error in the context of precision quantitative measurement. While rather broad claims have been made concerning measurement by Hacking, Cartwright, Franklin and others, none goes so far as to examine the actual manipulation of the numerical data. More distressingly, in the areas of economics and economic methodology, we have not even got so far as have the researchers in science studies. This fact alone should provide grounds for scepticism about the claim in Cartwright (1989) that philosophy of scientific inference has something to learn from the history of econometrics.

The post-war U.S. phillips curve: a revisionist econometric history

In 1958, A.W. Phillips discovered a strong negative correlation between inflation and unemployment in United Kingdom data. Continuing controversy surrounds the long-run trade-off suggested by a curve he drew through these observations.We conduct a wide-ranging investigation of the post-war U.S. Phillips correlations and Phillips curve. Many economists view the Phillips correlations as chimerical, given the rise in both inflation and unemployment during the 1970s, and the Phillips curve as plagued by subtle identification difficulties raised by Lucas and Sargent. Yet, a strikingly stable negative correlation exists over the business cycle, and recent theory indicates the Lucas-Sargent critique may not be empirically relevant. When we estimate the long-run trade-off as Gordon and Solow did, we find it is roughly one-for-one. This traditional Keynesian identification also makes business cycles entirely due to demand shocks. However, the Gordon-Solow model is not the only one that fits the data well. Alternative identifications lead to much more modest effects of demand on business cycles and essentially negligible long-run trade-offs.

Bibliography of Robert W. Fogel's Publications, 1960-1994

The Union Pacific Railroad: A Case in Premature Enterprise (Johns Hopkins University Press, 1960) Railroads and American Economic Growth: Essays in Econometric History (Johns Hopkins University Press, 1964a); Spanish edition, 1972 The Reinterpretation of American Economic History (Harper and Row, 1971; with S. L. Engerman and others); Italian edition, 1975 The Dimensions of Quantitative Research in History (Princeton, 1972; with W. 0. Aydelotte, A. G. Bogue, and others) Time on the Cross: The Economics of American Negro Slavery (Little, Brown, 1974a; with S. L. Engerman); English edition, 1974; Braille transcription, 1974, Italian edition, 1978; Japanese edition, 1980; Spanish edition, 1981; University Press of America edition, 1984; Norton edition 1989; various chapters and shorter excerpts reprinted in numerous books Ten Lectures on the New Economic History (in Japanese) (Nan-un-do, 1977) Aging; Stability and Change in the Family (Academic Press, 1981; co-edited with E. Hatfield, S. Kiesler, E. Shanas) Trends in Nutrition, Labor Welfare, and Labor Productivity (a special issue of Social Science History, Fall 1982a; with S. L. Engerman and others) Which road to the Past? Two Views of a History (Yale University Press, 1983a; with G. R. Elton); Fogel's essay translated into Hungarian and published in Vildgtortinet ( 1986) Long-Term Changes in Nutrition and the Standard of Living (Ninth International Economic History Congress, 1986a; R. W. Fogel, editor) Without Consent or Contract: The Rise and Fall of American Slavery (W. W. Norton 1989a) Without Consent or Contract: The Rise and Fall of American Slavery: Evidence and Methods (W. W. Norton 1992; with others) Without Consent or Contract: The Rise and Fall of American Slavery: Markets and Production: Technical Papers, Volume 1 (W. W. Norton 1992; with S. L. Engerman and others) Without Consent or Contract: The Rise and Fall of American Slavery: Conditions of Slave Life and the Transition to Freedom: Technical Papers. Volume 11 (W. W. Norton 1992; with S. L. Engerman and others) Egalitarianism: The Economic Revolution of the 20th Century (1 993a) The Political Realignment of the 1850s: A Socioeconomic Analysis (1 993b) The Escape from Hunger and Early Death: Europe, American and the Third World: 1750-2050 (1994a)

PRICE AND EXCHANGE RATE DETERMINATION DURING THE GREENBACK SUSPENSION

The editors of the Special Issue Quantitative Economic History wish to point out that in the article by C. W. Calomiris, ‘Price and Exchange Rate Determination During the Greenback Suspension’, the results of the F tests reported in the upper part of Table 7 on page 215 are p -values and not F statistics. In addition, the reference to the low level of significance of F tests on page xvi of the Introduction should be deleted. The editors apologize to readers for any misunderstanding which may have arisen on this account.

An empirical study of the distribution of crops in agricultural land in Belgium: 1900-1939

The observed distribution of a number of crops in a certain area can be thought of as the result of a decision process influenced, among other factors, by the expected financial yields. This allocation problem is very similar to the one encountered in portfolio theory, that is, the distri bution of certain wealth into different assets given a fixed interest rate structure (for example, Parkin, Gray and Bar rett (1970), Bettendorf and Verjans (1988)). This led us to the idea of the estimation of a modified portfolio model with data collected from Belgian agriculture1. The results of this model allow interesting interpretations about the sensi tivity of the different cultivated areas to changes in the total available area and in financial yields. In the next section the specification of the allocation model will be theoretically derived. After the description of the data used, the results will be discussed in section 4. The last section is devoted to concluding remarks. * Address all communications to L. Bettendorf, Catholic University of Louvain, E. van Evenstraat 2b, B-3000 Leuven. We would lite to thank G. Pepermans who suggested that an interesting overlap existed between the research activities of the authors. Valuable comments were received from A.P. Barten, M. Goossens, H. Van der Wee and the participants of the Workshop on Quantitative Economic History. We would also like to acknowledge E. Buyst for solving the translation problems. 1 Models with similar specifications are also used in studies of consumption patterns e.g. Schokkaert and Van der Wee (1988). An extensive survey of alternative speci fications of area response equations in the context of Nerlove models can be found in Askari and Qunmings (1977).

Quantitative Economic History.

Unemployment in inter-war Britain - dole or doldrums?, Barry Eichengreen intercounty labour mobility during the industrial revolution - evidence from Australian transportation records, Stephen Nicholas and Peter R.Shergold did English factor markets fail during the industrial revolution?, Jeffrey G.Williamson sliding scales and conciliation boards - risk-sharin in the late 19th-century British coal industry, John G.Treble natural monopoly and railway policy in the 19th century, J.S.Foreman-Peck the costs of public and private gas enterprises in late 19th-century Britain, Robert Millward and Robert Ward technology, productivity and profits - British-American whaling competition in the North Atlantic 1816-1842, L.E.Davis et al female labour force participation in inter-war Britain, T.J.Hatton and R.E.Bailey price and exchange rate determination during the Greenback susension, Charles W.Calomiris banking panics and business cycles, Gary Gorton.

Book reviews

Books reviewed in this article: GREAT BRITAIN AND IRELAND Alan Crossley, ed., The Victoria history of the counties of England: Oxford, XII: Wootton Hundred (south) including WoodstockEdward Miller, ed., The agrarian history of England and Wales, III: 1348‐1500L. R. Poos, A rural society after the Black Death: Essex, 1350‐1525Sari R. Hornstein, The Restoration navy and English foreign trade, 1674‐1688: a study in the peacetime use of sea powerJames Foreman‐Peck, ed., New perspectives on the late Victorian economy: essays in quantitative economic history, 1860‐1914James E. Cronin, The politics of state expansion: war, state and society in twentieth‐century BritainDavid Vincent, Poor citizens: the state and the poor in twentieth‐century BritainN. F. R. Crafts and Nicholas Woodward, eds., The British economy since 1945John Singleton, Lancashire on the scrapheap: the cotton industry, 1945‐1970 GENERAL Maria Teresa Maiullari, ed., Storiografia francese ed italiana a confronto sul fenomeno associativo durante xviii e xix secolo: atti delle giornate di studio promosse dalla Fondazione Luigi EinaudiMikulas Teich and Roy Porter, eds., Fin de siecle and its legacyThomas C. Owen, The corporation under Russian law, 1800‐1917Mary McAuley, Bread and justice: state and society in Petrograd, 1917‐1922Hiroaki Kuromiya, Stalin's industrial revolution: politics and workers, 1928‐1932Louis C. Hunter and Lynwood Bryant, A history of industrial power in the United States, 1780‐1930, 3: The transmisison of powerMargaret B. W. Graham and Bettye H. Pruitt, R & D for industry: a century of technical innovation at AlcoaJoe William Trotter, Jr., Coal, class, and color: blacks in southern West Virginia, 1915‐32Sanford M. Jacoby, ed., Masters to managers: historical and comparative perspectives on American employersJeffrey G. Williamson, Inequality, poverty and history: the Kuznets Memorial Lectures of the Economic Growth Center, Yale University

BOOK REVIEWS

Book Reviews in this Article New Developments in the Labor Market: Toward a New Institutional Paradigm. Capital in Economic Theory: Neo‐Classical, Cambridge and Chaos. Financial Markets and Macroeconomic Policy in the Flow‐of‐Funds Framework. External Constraints on Macroeconomic Policy: The European Experience. Free Market Environmentalism. Macroeconomic Policy in Britain 1974‐1987. Environment and Economy: Property Rights and Public Policy. Global Research Strategy and International Competitiveness. Comparative Economic Systems: Objectives, Decision Modes, and the Process of Choice. The Capitalist Economies: Prospects for the 1990s. Quantitative Economic History. Underemployment Equilibria: Essays in Theory, Econometrics and Policy. Developing Countries and the International Economy: Issues in Trade, Adjustment and Debt. The Rational Consumer: Theory and Evidence. Oil and the International Economy. Merger and Competition Policy in the European Community. Equilibrium and Evolution: An Exploration of Connecting Principles in Economics. Antiquity and Capitalism: Max Weber and the Sociological Foundations of Roman Civilization. A Modern Guide to Economic Thought: An Introduction to Comparative Schools of Thought in Economics. The Economics of the Single European Act. Financial Innovations and Market Volatility. The Supply Side Revolution in Britain. Natural Resource Economics: Conservation and Exploitation. Common Property Economics: A General Theory and Land Use Applications. Methodological Foundations of Macroeconomics: Keynes and Lucas.

Quantitative Economic History in Japan

Quantitative Economic History in Japan

THE AGRARIAN CRISIS IN MEDIEVAL ENGLAND: A MALTHUSIAN TRAGEDY OR A FAILURE OF ENTITLEMENTS?

Bulletin of Economic ResearchVolume 43, Issue 3 p. 223-258 THE AGRARIAN CRISIS IN MEDIEVAL ENGLAND: A MALTHUSIAN TRAGEDY OR A FAILURE OF ENTITLEMENTS? Meghnad Desai, Meghnad Desai London School of Economics, Houghton Street, London WC2A 2AE This paper is a much revised revision of an earlier unpublished paper whose first draft appeared in December 1974 and the second draft in November 1977. The late Professor Postan gave extensive comments on the first draft in early 1975 and then again on the second draft when he was present at a seminar I gave at the Cambridge Group on History of Population. I never quite convinced him of my position but he was very generous with his time and patience in instructing an intrepid amateur in the byways of medieval agricultural history. My colleagues at LSE, Tony Bridbury and Olive Coleman took continuous interest in the 1970s. Seminar audiences at LSE, Birkbeck, Oxford (June 1978), Cambridge (November 1981), Australian National University (1980), and the first SSRC workshop in Economic History held at Warwick (January 1978), also gave extensive comments, I must also thank Barbara Harvey, Prof. Caldwell, Rodney Hilton, Terry Lloyd, Donald McCloskey and J. Titow for references and comments.Search for more papers by this author Meghnad Desai, Meghnad Desai London School of Economics, Houghton Street, London WC2A 2AE This paper is a much revised revision of an earlier unpublished paper whose first draft appeared in December 1974 and the second draft in November 1977. The late Professor Postan gave extensive comments on the first draft in early 1975 and then again on the second draft when he was present at a seminar I gave at the Cambridge Group on History of Population. I never quite convinced him of my position but he was very generous with his time and patience in instructing an intrepid amateur in the byways of medieval agricultural history. My colleagues at LSE, Tony Bridbury and Olive Coleman took continuous interest in the 1970s. Seminar audiences at LSE, Birkbeck, Oxford (June 1978), Cambridge (November 1981), Australian National University (1980), and the first SSRC workshop in Economic History held at Warwick (January 1978), also gave extensive comments, I must also thank Barbara Harvey, Prof. Caldwell, Rodney Hilton, Terry Lloyd, Donald McCloskey and J. Titow for references and comments.Search for more papers by this author First published: July 1991 https://doi.org/10.1111/j.1467-8586.1991.tb00494.xCitations: 1 The enthusiasm of Gunnar Persson and Peter Skott for my abandoned version while they were engaged in their work on pre-industrial growth brought me back to this project of finishing the paper. The generosity of my hosts, Peter Skott especially but also Svend Hylleberg, Claus Vastrup, Martin Paldam at Aarhus University in leaving me alone to get on with my work and providing help when needed was the best compensation for the long delay in finishing this paper. At Aarhus, Arne Vajhoj helped with computation with the same diligence as 15 years earlier at LSE Nicholas Foster, Judy Thompson and Linda Friedman had. Having this paper read at the Conference on Quantitative Economic History at Hull by Robert Milward and his report on comments as well as two referees for the Bulletin improved the somewhat messy third draft (1988) to its present form. To all, my thanks, though it is a pity they are not to blame for the remaining faults. AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Citing Literature Volume43, Issue3July 1991Pages 223-258 RelatedInformation

TRADE POLICY AND THE REGIONALIZATION OF IMPORTS IN INTERWAR BRITAIN *

Bulletin of Economic ResearchVolume 43, Issue 2 p. 151-168 TRADE POLICY AND THE REGIONALIZATION OF IMPORTS IN INTERWAR BRITAIN * Michael Kitson, Michael Kitson Department of Applied Economics and Faculty of Economics, University of Cambridge.Search for more papers by this authorSolomos Solomou, Solomos Solomou Department of Applied Economics and Faculty of Economics, University of Cambridge.Search for more papers by this author Michael Kitson, Michael Kitson Department of Applied Economics and Faculty of Economics, University of Cambridge.Search for more papers by this authorSolomos Solomou, Solomos Solomou Department of Applied Economics and Faculty of Economics, University of Cambridge.Search for more papers by this author First published: April 1991 https://doi.org/10.1111/j.1467-8586.1991.tb00489.xCitations: 3 * This research has been funded by the Economic and Social Research Council (Grant R000231387). The authors would like to thank participants at the ESRC Quantitative Economic History Group Conference held in Hull, September 1989, and two anonymous referees for comments on an earlier version of this paper. AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onFacebookTwitterLinked InRedditWechat Citing Literature Volume43, Issue2April 1991Pages 151-168 RelatedInformation

A History of Econometrics.

A History of Econometrics.

Cliometrics and technology

Cliometrics and technology

History and Methodology of Econometrics

Introduction: Neil de Marchi. Part 1 Conceptual puzzles before Cowles: autonomy, John Aldrich a re-analysis of confluence analysis, David Hendry some contributions of US agricultural economists and their close associates to statistics and econometrics, 1917-33, Karl Fox. Part 2 Structural econometrics: formalization of identification theory, Duo Qin the fall of OLS in structural estimation, Roy Epstein LSE and the British approach to time series econometrics, Christopher Gilbert. Part 3 Applied studies: the early history of the consumption function, Jim Thomas early empirical findings on the consumption function, stylized facts or fiction - a restrospective view, Aris Spanos Phillips' approximate regression, Nancy Wulwick econometrics and the theory of economic policy - the Tinbergen-Theil, contributions 40 years on, Andrew Hughes Hallett. Part 4 Critical histories: the probabilistic counter-revolution, or how stochastic concepts came to neoclassical economic theory, Philip Mirowski realism and instrumentalism in the development of econometrics, Tony Lawson.

Perspectives in the History of Econometrics: A Review Essay of R. J. Epstein: A History of Econometrics

Only in the last few years has the history of econometrics become established as an accepted field of research, with its own doctoral students and sessions at professional meetings. Yet, the first written histories of econometrics appeared as far back as the 1950s, when Carl Christ [4] reviewed the first 20 years' econometric work of the Cowles Commission and George Stigler [37] surveyed the early econometric analyses of consumer demand. Contributions in the intervening years have been sparse, with historical accounts such as Stigler [38], Humphrey [23], and Cargill [3] providing helpful landmarks, and additional insights coming from papers such as Gold-berger [16] and Griliches [17]. Now we have a new monograph on the history of the Cowles Commission by Hildreth [22], a number of journal articles, and Roy Epstein's 1987 book, A History of Econometrics, as further contributions to this small but rapidly expanding field.

THE FALL OF OLS IN STRUCTURAL ESTIMATION

A recurrent debate in the history of econometrics is the extent to which ordinary least squares (OLS) estimation can yield valid information about economic structure. This debate started well before the work of the Cowles Commission in the 1940's on simultaneity bias. For example, in 1912 Marshall was strongly condemning Henry Ludwell Moore, the first American econometrician, as a nightmare. The problem of interpreting econometric results has not diminished with time. This article discusses early developments in the analysis of identification and single equation estimation which do not seem to be widely known among modern economists, despite the insight they provide into econometric practice.' Economists such as Marshall became more tolerant of econometric work when multiple correlation was explained as a technique that could embody the ceteris paribus clause of pure theory. Nevertheless, the early experience of estimating demand and supply curves showed that econometricians faced unique difficulties. Statistical models in other fields used the logic of cause and effect to specify relationships with one dependent variable and several explanatory factors. It was apparent from the outset, however, that a scatter of simultaneous price and quantity observations could not directly reveal either demand or supply schedules without additional information. Substantial progress on what was later called the identification problem was achieved by the end of the 1920's. One result of this work was to suggest that OLS might be an inappropriate estimator for simultaneous systems. A form of instrumental variables estimation appeared in the literature as early as 1928 and an example of indirect least squares was given in 1929. The paper is organized as follows. The first section discusses the work of Sewall Wright in the 1920's as a kind of instrumental variables solution to the market equilibrium problem. The second section discusses an early discovery by Tinbergen of identification and estimation using exogenous variables in an indirect least squares setting. The third section discusses the work of Haavelmo and Koopmans in the emergence of structural estima-

COULD LLOYD GEORGE HAVE DONE IT? THE PLEDGE RE-EXAMINED

This is a revised version of ESRC—University of Liverpool Research Project of Modelling and Forecasting of the UK Economy Working Paper No. 8502. I am grateful to Patrick Minford, Participants of the 1986 ESRC Quantitative Economic History Conference, Cardiff, the editors and three anonymous referees for helpful comments and advice. As usual, all remaining errors are mine.

THE EARLY ECONOMETRIC HISTORY OF THE CONSUMPTION FUNCTION

Journal Article THE EARLY ECONOMETRIC HISTORY OF THE CONSUMPTION FUNCTION Get access J.J. THOMAS J.J. THOMAS VPI and State UniversityVirginia, USA * I am grateful to Vicky Chick, Meghnad Desai, Mary Morgan, and Robin Rowley for helpful comments on an earlier version of this paper and to the participants in a Workshop in Econometrics at Nuffield College, Oxford in June 1987 for many useful suggestions. I am also very grateful to Cdeman Bazclon for assistance with the computation. Finally, I received valuable comments through correspondena with Colin Clark, Kari Fox, Sue Howson, Sir Richard Stone and Jan Tinbergen and from two anonymous referees. None of the aforementioned are mponsible for any remaining errors in this paper. Search for other works by this author on: Oxford Academic Google Scholar Oxford Economic Papers, Volume 41, Issue 1, 1989, Pages 131–149, https://doi.org/10.1093/oxfordjournals.oep.a041888 Published: 01 January 1989

Econometric History.

Econometric History.

Reviews

Kate Mertes, The English noble household, 1250‐1600: good governance and politic rule (Oxford: Blackwell, 1988. PpRosalind Mitchison and Peter Roebuck, eds., Economy and society in Scotland and Ireland, 1500‐1939 (Edinburgh: John Donald, 1988. PpJeremy Boulton, Neighbourhood and society: a London suburb in the seventeenth century (Cambridge: Cambridge University Press, 1987. PpJames C. Riley, The eighteenth‐century campaign to avoid disease (London: Macmillan, 1987. PpJ. R. Smith, The speckled monster: smallpox in England, 1670‐1970, with particular reference to Essex (Chelmsford: Essex Record Office, 1987. PpMacquarie UniversityJulian Hoppit, Risk and failure in English business, 1700‐1800 (Cambridge: Cambridge University Press, 1987. PpEdward Royle, Modem Britain: a social history, 1750‐1985 (London: Edward Arnold, 1987. PpEdgar Jones, A history of GKN, vol. i: innovation and enterprise, 1759‐1918 (London: Macmillan, 1987. PpTerry Gourvish, Norfolk beers from English barley: a history of Steward & Patteson, 1793‐1963 (Norwich: Centre of East Anglian Studies, University of East Anglia, 1987. PpJ. W. R. Whitehand, The changing face of cities: a study of development cycles and urban form (Oxford: Blackwell, for the Institute of British Geographers, Special Publications Series no. 21, 1987. PpJohn Saville, 1848, the British state and the Chartist movement (Cambridge: Cambridge University Press, 1987. PpThames PolytechnicR. C. Michie, The London and New York Stock Exchanges, 1850‐1914 (London: Allen & Unwin, 1987. PpImperial College, LondonGerard M. Koot, English historical economics, 1870‐1926 (Cambridge: Cambridge University Press, 1988. PpJane Morgan, Conflict and order: the police and labour disputes in England and Wales, 1900‐1939 (Oxford: Clarendon Press, 1987. PpP. W. J. Bartrip, Workmen's compensation in twentieth‐century Britain: law, history and social policy (Aldershot: Gower, 1987. PpBarry Supple, The history of the British coal industry, vol. 4, 1913‐46: the political economy of decline. (Oxford: Clarendon Press, 1987. PpGerry R. Rubin, War, law, and labour: the Munitions Acts, state regulation, and the unions, 1915‐1921 (Oxford: Clarendon Press, 1987. PpWolfson College, OxfordSteven Tolliday, Business, banking and politics: the case of British steel, 1918‐1939 (Cambridge, Mass. and London: Harvard University Press, 1987. PpMarguerite Dupree, ed., Lancashire and Whitehall: the diary of Sir Raymond Streat, 1931‐57 (Manchester: Manchester University Press, 1987. 2 vols. PpPatricia Herlihy, Odessa: a history, 1794‐1914 (Cambridge: Mass.: Harvard University Press, Ukrainian Research Institute Monograph Series, 1986. PpJean Baechler, John A. Hall, and Michael Mann, eds., Europe and the rise of capitalism (Oxford: Blackwell, 1988. PpMichael Anderson, Population change in north‐western Europe, 1750‐1850 (London: Macmillan, 1988. PpFrank B. Tipton and Robert Aldrich, An economic and social history of Europe, 1890‐1939. An economic and social history of Europe from 1939 to the present (London: Macmillan, 1987. PpLondon School of Economics and Political ScienceCarole Shammas, Marylynn Salmon, and Michael Dahlin, Inheritance in America from colonial times to the present (New Brunswick, N.J. and London: Rutgers University Press, 1987. PpDeakin University, Geelong, VictoriaPeter Kilby, ed., Quantity and quiddity: essays in U.S. economic history (Wesleyan University Press. 1987. PpRobert F. Dalzell, Jr., Enterprising elite: the Boston Associates and the world they made (Cambridge, Mass. and London: Harvard University Press, 1987. PpCambridge UniversityRobert Higgs, Crisis and Leviathan: critical episodes in the growth of American government (New York and Oxford: Oxford University Press, 1987. PpRutgers UniversityJonathan Liebenau, Medical science and medical industry: the formation of the American pharmaceutical industry (London: Macmillan, in association with the Business History Unit, University of London, 1987. PpThe Queen's University of BelfastPeter Fearon, War, prosperity and depression: the U.S. economy, 1917‐1945 (Oxford: Philip Allan, 1987. PpMichael J. Hogan, The Marshall Plan: America, Britain, and the reconstruction of Western Europe, 1947‐1952 (Cambridge: Cambridge University Press, 1987. PpCynthia Taft Morris and Irma Adelman, Comparative patterns of economic development, 1850‐1914 (Baltimore: Johns Hopkins University Press, 1988. PpBielefeld UniversityShireen Moosvi, The economy of the Mughal Empire c. 1595: a statistical study (Delhi: Oxford University Press, 1987. PpDonald N. McCloskey, Econometric history (London: Macmillan, 1987. PpQueen s University, Kingston, OntarioMargaret Garritscn de Vries, The International Monetary Fund, 1972‐1978: cooperation on trial. Vols. 1, 11, and in (Washington D.C.: The International Monetary Fund, 1985. Vols. I and II, pp