The Department of Economics Theory, History, and Development Seminar Series presents

"Landschaften as Credit Purveyors - The Example of East Prussia"
with Kirsten Wandschneider, Associate Professor of Economics, Occidental College

Monday, April 22, 2013
3:30-5:00 p.m.
Social Science Plaza B, Room 3218

Landschaften were cooperative mortgage associations that emerged in Prussia after the Seven Years War (1756-63). They issued covered mortgage bonds, called Pfandbriefe, which helped re-capitalize the Prussian landed estates, and quickly became a popular choice for investors. This talk offers a detailed look into the workings of one of these institutions: The Landschaft of East Prussia. Relying on a 1823 survey of 554 estates that details how many estates were mortgaged through the Landschaft and to what degree, Wandschneider offers insights into the self-selection of participants and the distribution of credit. Based on this dataset, she also provide a first quantitative assessment of the economic effects of the Landschaften on ownership change and size of estates.

For further information, please contact Gloria Simpson, or 949-824-5788.

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