Ledger for the Classes of 1703-1718, 1703-1731

The parchment-bound hardcover folio volume contains accounts for Fellows, Tutors, the President, and members of the Classes of 1703-1718. Payments were often made with bills of credit, money, and notes. The Steward's accounts with the College are interspersed in the volume.

Audited accounts, 1713-1745

The parchment-bound hardcover folio volume contains the Steward's accounts with the College from March 20, 1712/13 through August 9, 1745. The accounts are arranged as Harvard College's debits to the Steward with entries listing the Steward's expenses for students, salaries, and provisions and equipment, and the Steward's credits collected from the quarterly bills, arranged by type of charge (such as study rent, payments from the Butler, and repairs).

Annotated almanac, 1780

Almanac interleaved with pages containing sporadic entries documenting household activities and accounts, payments from boarders, and a list of baptisms and burials. On the last interleaved page there is an entry for May 19 of "a marvellous darkness over spread the whole horizon which oblidgd us to burn candles for near three hours such a phenomenon not remembered by the oldest person living."

Committee notebook, ca. 1798

Small paper notebook containing handwritten facts and figures documenting the benefits received by the town of Cambridge from the College. The notebook contains much of the same information in the Committee notebook (HUM 79 Box 1, Folder 55). Most entries list financial benefits such as the College's payments to local tradesman, the schoolmaster, and the first parish minister, as well as income received by local merchants and boarding houses from College students and officers. The cover is inscribed "Committee."

"P" notebook, 1799

Small paper notebook containing handwritten facts and figures documenting the benefits received by the town of Cambridge from the College. The notebook contains much of the same information in the Committee notebook (HUM 79 Box 1, Folder 52). Most entries list financial benefits such as the College's payments to local tradesman, the schoolmaster, and the first parish minister, as well as income received by local merchants and boarding houses from College students and officers. The cover is inscribed "P."

Paid to Inhabitants of Cambridge For Supplies in the Hall, [1799 June]

One octavo-sized folded leaf containing a short handwritten list of payments made to Cambridge for supplies between 1796 and 1799.

Bond of Samuel Shapleigh to Ebenezer Bradish, July 1, 1793

Although it is known that Bradish was a tavern keeper in Cambridge, the circumstances precipitating this bond are unclear. Shapleigh's name has been cut out from the bottom of the document. It was "signed, sealed and delivered" in the presence of John Warland and Raham Richardson. Annotations on the verso indicate payments made in 1795 and 1796.

C. Daily pocket journal of John and Hannah Winthrop, 1766-1779

Small printed daily pocket journal repurposed by both John and Hannah between 1766 and 1779 to record household accounts including livestock pasturing, income received, and payments to servants, merchants, and tradesmen for food, livestock, clothing, linen, etc. Many of the pages are unused. The January-April pages contain account records from 1766-1779, one page in June has a few accounting notes from September 1779, the rest of June-November is empty, and three books are listed on a November page. The last three calendar pages contain lists of books in Hannah's handwriting dated 1773 and August 1768.

Justice of the peace docket books, 1769-1808

A collection of notebooks in which Hubbard recorded both legal and personal transactions in detail, including: writs, arrests, wills, boundary disputes, damages awarded in court cases over which he presided, various payments and expenses, etc. Also included are three notebooks kept by his nephew James Hubbard, who inherited Joshua Hubbard's farm; these primarily record the sale of cider and vinegar from his farm, costs of hired labor, and bank loans.

Account book, ca. 1783-1820

Oblong notebook recording payments by William Bridge to various parties in Chelmsford, Tyngsborough, Groton and Dunstable, in Middlesex County, Massachusetts in the early 19th century. Bridge also records legal duties such as serving writs, and activities such as making hay and slaughtering livestock for or with other individuals which may indicate debt and payment. Elsewhere he records the birthdates of himself and his siblings and the deaths of his parents. Also included is a recipe to cure an ailing horse.

Account book of Benjamin Gale, 1740-1748 (inclusive)

Ledger containing lists of patient names and payments to Dr. Benjamin Gale (1715-1790) of Killingworth (now Clinton), Connecticut, primarily in 1743. Entries mostly included charges for "sundry" items and visits to patients by Gale, who accepted both cash and payment-in-kind.

Doctor Daniel Brigham's Book, 1789-1810 (inclusive)

Ledger maintained by Dr. Daniel Brigham (1760-1837) containing financial accounts for medical patients treated primarily in Northborough, Westborough, and Marlborough, Massachusetts from 1789 to 1837. The ledger details the charges for medical services and the corresponding payments, often made by payment-in-kind. Common charges included a shilling for a visit and administration of cathartics, emetics, or anodynes. Extraction of a tooth cost eight pence, and Brigham charged one woman nine shillings for delivering her son. A number of entries are obscured by pasted-in newspaper articles.

Introducing more equity in the CAP: a difficult challenge. Egmont Paper #55, June 2012

[From the Introduction]. The main question addressed by this paper is how to reach a more equitable distribution of CAP’s payments pragmatically, politically and economically? Pragmatically, the CAP is a multi-functional policy, which has to combine different goals, i.e. to be more equitable, green and market-oriented. However, these objectives are not always compatible and require trade-offs. Politically, regarding the CAP’s significant share (40%) of the EU budget and the current public debt crisis, Member States are most likely to keep their attention on the juste retour calculations rather than the promotion of the European public interest in the EU negotiations. Economically, reaching a more equitable distribution of payments should be achieved without significant disruptive changes that could have serious consequences on the costs and benefits of the agricultural sector in the EU. Considering these elements, it is already clear that reaching a more equitable distribution of CAP’s payments represents a difficult challenge.

Essays on the Effects of Corporate Taxation

Cette thèse est une collection de trois articles en macroéconomie et finances publiques. Elle développe des modèles d'Equilibre Général Dynamique et Stochastique pour analyser les implications macroéconomiques des politiques d'imposition des entreprises en présence de marchés financiers imparfaits. Le premier chapitre analyse les mécanismes de transmission à l'économie, des effets d'un ré-échelonnement de l'impôt sur le profit des entreprises. Dans une économie constituée d'un gouvernement, d'une firme représentative et d'un ménage représentatif, j'élabore un théorème de l'équivalence ricardienne avec l'impôt sur le profit des entreprises. Plus particulièrement, j'établis que si les marchés financiers sont parfaits, un ré-échelonnement de l'impôt sur le profit des entreprises qui ne change pas la valeur présente de l'impôt total auquel l'entreprise est assujettie sur toute sa durée de vie n'a aucun effet réel sur l'économie si l'état utilise un impôt forfaitaire. Ensuite, en présence de marchés financiers imparfaits, je montre qu'une une baisse temporaire de l'impôt forfaitaire sur le profit des entreprises stimule l'investissement parce qu'il réduit temporairement le coût marginal de l'investissement. Enfin, mes résultats indiquent que si l'impôt est proportionnel au profit des entreprises, l'anticipation de taxes élevées dans le futur réduit le rendement espéré de l'investissement et atténue la stimulation de l'investissement engendrée par la réduction d'impôt. Le deuxième chapitre est écrit en collaboration avec Rui Castro. Dans cet article, nous avons quantifié les effets sur les décisions individuelles d'investis-sement et de production des entreprises ainsi que sur les agrégats macroéconomiques, d'une baisse temporaire de l'impôt sur le profit des entreprises en présence de marchés financiers imparfaits. Dans un modèle où les entreprises sont sujettes à des chocs de productivité idiosyncratiques, nous avons d'abord établi que le rationnement de crédit affecte plus les petites (jeunes) entreprises que les grandes entreprises. Pour des entreprises de même taille, les entreprises les plus productives sont celles qui souffrent le plus du manque de liquidité résultant des imperfections du marché financier. Ensuite, nous montré que pour une baisse de 1 dollar du revenu de l'impôt, l'investissement et la production augmentent respectivement de 26 et 3,5 centimes. L'effet cumulatif indique une augmentation de l'investissement et de la production agrégés respectivement de 4,6 et 7,2 centimes. Au niveau individuel, nos résultats indiquent que la politique stimule l'investissement des petites entreprises, initialement en manque de liquidité, alors qu'elle réduit l'investissement des grandes entreprises, initialement non contraintes. Le troisième chapitre est consacré à l'analyse des effets de la réforme de l'imposition des revenus d'entreprise proposée par le Trésor américain en 1992. La proposition de réforme recommande l'élimination des impôts sur les dividendes et les gains en capital et l'imposition d'une seule taxe sur le revenu des entreprises. Pour ce faire, j'ai eu recours à un modèle dynamique stochastique d'équilibre général avec marchés financiers imparfaits dans lequel les entreprises sont sujettes à des chocs idiosyncratiques de productivité. Les résultats indiquent que l'abolition des impôts sur les dividendes et les gains en capital réduisent les distorsions dans les choix d'investissement des entreprises, stimule l'investissement et entraîne une meilleure allocation du capital. Mais pour être financièrement soutenable, la réforme nécessite un relèvement du taux de l'impôt sur le profit des entreprises de 34\% à 42\%. Cette hausse du taux d'imposition décourage l'accumulation du capital. En somme, la réforme engendre une baisse de l'accumulation du capital et de la production respectivement de 8\% et 1\%. Néanmoins, elle améliore l'allocation du capital de 20\%, engendrant des gains de productivité de 1.41\% et une modeste augmentation du bien être des consommateurs.

Multilateral Interchange Fees: Competition and regulation in light of recent legislative developments. ECRI Research Report No. 14, 31 January 2014

Two-sided payment card markets generate costs that have to be distributed among the participating actors. For this purpose, payment card networks set an interchange fee, which is the fee paid by the merchant’s bank to the cardholder’s bank per transaction. While in recent years many antitrust authorities all over the world - including the European Commission - have opened proceedings against card brands in order to verify whether agreements to collectively establish the level of interchange fees are anticompetitive, the Reserve Bank of Australia – as a regulator - has directly tried to address market failures by lowering the level of interchange fees and changing some network rules. The US has followed with new legislation on financial consumer protection, which also intervenes on interchange fees. This has opened a strong debate not only on legitimacy of interchange fees, but also on the appropriateness of different public tools to address such issues. Drawing from economic and legal theories and a comparative analysis of recent case law in the EU and other jurisdictions, this work investigates whether a regulation rather than a purely competition policy approach would be more appropriate in this field, considering in particular, at EU level, all of the competition and regulatory concerns that have arisen from the operation of SEPA with multilateral interchange fees. The paper concludes that a wider regulation approach could address some of the shortcomings of a purely antitrust approach, proving to be highly beneficial to the development of an efficient European single payments area.