This article develops an empirical model of risk-premium for the Peruvian external debt of the nineteenth century. The model relates the risk-premium to a set of macroe-conomic variables of total indebtedness and liquidity. It explains die success of die Peruvian government in the British financial market, the behavior of die bondholders towards risk, and how they interpreted die changing macroeconomic data as the debt was growing, near the default date. The use of die Principal Components method helps to avoid multicolinearity problems as well as extracting most of the information from the different aggregate variables.

The most recent contributions on the relevance of the State in the growth of the Spanish economy during the Restoration have remarked the limited significance that public expenditure had in the determination of the national income. This article discusses that opinion concluding that the actual importance of the budget, especially related with industrial output, was underrated. We use econometric methods to capture the consequences of budget different components variations on national output.

This paper offers an interpretation of the budgetary policy of the Spanish governments during the Second Republic, 1931–1936. To judge the fiscal policy of this era, actual budget deficits are compared with estimated full employment deficits, that is, deficits that would have happened under conditions of high income levels, high government revenues, and relatively low expansionary expenditures. Contrary to traditional interpretations, such a comparison shows the 1931–1933 Spanish fiscal policy as relatively interventionist, and reveals a higher degree of social concern of die moderate cabinets of the Second Republic than is hitherto conceded.

Using published and unpublished data, mainly taken from the center of Spain and especially from Madrid, annual series of prices, wages and real wages between 1501 and 1991 have been constructed. A detailed explanation is given of the sources and procedures used in die construction of the series, and the reliability of the different adjustments is evaluated. The resulting time series clearly portray the medium and long-term trends of prices and wages in the center of Spain. When compared with English data, similar trends emerge.

After pointing out the problems involving the making of historic time series of economic aggregates, the main estimates of Spanish national income are described, indicating shortcomings and disparities. Prof. Prados de la Escosura's work is thoroughly analyzed. Taking into account two more recent works on national income in contemporary Spain, the author stresses the need both to contrast data, methods and findings in any attempt to quantify the past, and to establish checks on the validity of these data.

La naturaleza metodológica de la Historia Económica como economía aplicada raramente se manifiesta tan evidente como en el campo de la Historia Económica de la empresa. Lo que para la Historia Económica general es un signo de identidad adquirido a lo largo de muchos años, para la Historia Económica de la empresa fue la razón misma de su aparición como disciplina independiente. Hace ya 65 años, la necesidad de ofrecer un campo de «experimentación» para las técnicas de dirección empresarial llevó a Wallace B. Donham, decano de la Escuela Graduada de Comercio de la Universidad de Harvard a establecer en 1927 la cátedra Straus de Historia Económica de la empresa con la idea de que, en sus propias palabras, una figura acádemica distinguida

se uniese al claustro de Harvard para ver si en su Escuela Graduada de Comercio fuese posible poner en marcha un programa de investigación y enseñanza en el campo de la Historia Económica general y de la empresa que estuviese tan íntimamente relacionado con los problemas reales del hombre de empresa que llegase a ser una auténtica contributión social.

Tradicionalmente la historia de México se ha venido interpretando como un proceso espacialmente homogéneo, sin importantes divisiones regionales e inscrito en una evolución de larga duración, que subrayaba el «desarrollo económico» y la estabilidad sociopolítica del siglo XVIII, frente a la «crisis» y la «anarquía» de la primera mitad del siglo XIX. Esta interpretación enfatizaba el papel de las luchas de independencia como la causa principal de los «males» del México decimonónico: si México como nación no nacía o nacía cansada, hipotecada su economía y fragmentada su geografía a causa de las disensiones entre las élites locales en lucha por el control del poder (centralistas contra federalistas), se debía al alto costo pagado en estas guerras.