Dr Alex KleinDr Alex Klein is giving a seminar tomorrow (20 January 2015) at the UCL School of Slavonic & East European Studies titled “Was Domar Right? The Second Serfdom, the Land-Labour Ratio, and Urbanization in Eighteenth-Century Bohemia”. The seminar is at 5pm in Roberts 309, UCL, Torrington Place, London, WC1E 7JE. For further details, click here.

Macroeconomics, Growth and History CentreProfessor José-Víctor Ríos-Rull, from the University of Minnesota and the Minneapolis FED, delivered the Inaugural Macroeconomics, Growth and History Centre (MaGHiC) Lecture on Friday 16 January. He presented his work with Huo Zhen on ‘Financial Frictions, Asset Prices, and the Great Recession‘.

The Great Recession that most western economies faced from 2008 was unusual in that it represented the largest drop of economic activity since the Great Depression of the 1930s. The loss of output, employment, productivity and house values during the period was of an order of magnitude many times larger than standard recessions.

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Dr Alex KleinDr Alex Klein is co-author of a new book to be published later this month titled British Economic Growth, 1270-1870. The book is a definitive new account of Britain’s economic evolution from a backwater of Europe in 1270 to the hub of the global economy in 1870. A team of leading economic historians reconstruct Britain’s national accounts for the first time right back into the thirteenth century to show what really happened quantitatively during the centuries leading up to the Industrial Revolution.

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Macroeconomics, Growth and History CentreOn Friday 16 January 2015 the School is hosting the Macroeconomics, Growth and History Centre (MaGHic) inaugural lecture by José-Víctor Ríos-Rull, Carlson Professor of Economics at the University of Minnesota. He will be talking on ‘Finance Frictions, Asset Prices, and the Great Recession’ (with Zhen Huo). The lecture will be held in KLT2 at 15.00.

Dr Maria Garcia-AlonsoA new discussion paper by Maria Garcia-Alonso, Paul Levine and Ron Smith, KDPE 1501, January 2015

Non-technical summary

In military conflicts, as in some other activities, there are issues of strategic delegation to consider: to what extent should one fight oneself or subsidize allies to fight for you. During the 18th century and the Revolutionary and Napoleonic Wars, Britain not only defended itself against invasion by France, but repeatedly subsidized allies to fight either alongside her or instead of her. Similarly, in Iraq and Afghanistan the US had to balance the costs and benefits of direct intervention and indirect intervention through aid to a foreign government...

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