EHES 2025 in Hohenheim

The EHES 2025 conference at the Universität Hohenheim has come to an end. I want to thank everyone who helped make it possible. Without my team, the many engaged colleagues, helpers, and participants, this would not have been nearly as successful.For me, it was a truly special moment in my career to host this conferenceContinue reading “EHES 2025 in Hohenheim”

New survey article on data sources for the German capital market in the 19th and early 20th century

This article provides a comprehensive overview of the most important sources and data available for the German capital market, highlighting their capabilities and limitations. We focus on firm-specific information related to stock corporations and price data for the 19th and early 20th Century. By reviewing examples from existing literature, we illustrate the practical applications ofContinue reading “New survey article on data sources for the German capital market in the 19th and early 20th century”

New publication on how inflation impacts saving behaviour

Our microeconomic study of the savings behavior of 2,500 German savers in the second half of the 19th century allows us to explore the causes of individual savings decisions in an emerging economy. Inferring savers’ inflation expectations from the personal inflation experiences they made we confirm the standard interpretation of the Euler equation: The savers of our sample reduced their savingsContinue reading “New publication on how inflation impacts saving behaviour”

New publication on the role of the scientific revolution

We analyze the role of the Scientific Revolution in the takeoff to sustained long-run economic development. Basic scientific knowledge is a necessary input in the production of applied knowledge, which, in turn, fuels productivity growth and leads to rising incomes. Subsequently, rising incomes instigate a fertility transition and foster education investments. Together, the increasing stocksContinue reading “New publication on the role of the scientific revolution”