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Explorations in the Economics of Intertemporal Asset Transfer in Roman Palestine

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  • P.V. Viswanath

Abstract

Following the Jewish Revolt and the destruction of the Jewish Temple in 70 CE, there were large-scale destabilizations of the Jewish population in Palestine. Information regarding economic decisions has always been available indirectly from Jewish and Roman legalistic material, but it has been insufficiently mined for economic insights. Furthermore, over the last forty years, new documentary material has become available from the second century. This note discusses some interesting aspects of how people managed to transfer resources over time in those turbulent times. Specifically, I look at two cases of asset transfer where the primary purpose was to transfer wealth over time. I explore the role of market frictions in both cases and make comparisons to present-day circumstances.

Suggested Citation

  • P.V. Viswanath, 2008. "Explorations in the Economics of Intertemporal Asset Transfer in Roman Palestine," The American Economist, Sage Publications, vol. 52(2), pages 77-86, October.
    • Handle: RePEc:sae:amerec:v:52:y:2008:i:2:p:77-86
    DOI: 10.1177/056943450805200210
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    References listed on IDEAS

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    1. P. V. Viswanath, 2007. "The Use of real estate for the settlement of claims in Roman Palestine," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2007-002, Indira Gandhi Institute of Development Research, Mumbai, India.
    2. Joseph E. Stiglitz, 1989. "Markets and Development," NBER Working Papers 2961, National Bureau of Economic Research, Inc.
    3. Goetzmann, William N. & Rouwenhorst, K. Geert (ed.), 2005. "The Origins of Value: The Financial Innovations that Created Modern Capital Markets," OUP Catalogue, Oxford University Press, number 9780195175714.
    4. P. V. Viswanath, 2007. "The Use of Real Estate for the Settlement of Claims in Roman Palestine," Microeconomics Working Papers 22399, East Asian Bureau of Economic Research.
    5. Stiglitz, Joseph E, 1989. "Markets, Market Failures, and Development," American Economic Review, American Economic Association, vol. 79(2), pages 197-203, May.
    6. Viswanath, P. V., 2000. "Risk sharing, diversification and moral hazard in Roman Palestine evidence from agricultural contract law," International Review of Law and Economics, Elsevier, vol. 20(3), pages 353-369, September.
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