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
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, firstname.lastname@example.org or 949-824-5788.