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Explorations in the economics of intertemporal asset transfer in Roman Palestine

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  • P.V. Viswanath

    (Indira Gandhi Institute of Development Research)

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    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, though 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 these 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.

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    Bibliographic Info

    Paper provided by Indira Gandhi Institute of Development Research, Mumbai, India in its series Indira Gandhi Institute of Development Research, Mumbai Working Papers with number 2008-017.

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    Length: 21 pages
    Date of creation: Sep 2008
    Date of revision:
    Handle: RePEc:ind:igiwpp:2008-017

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    Keywords: Intertemporal asset transfer; market frictions; intergenerational transfer; law; religion and economics;

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    1. Stiglitz, Joseph E, 1989. "Markets, Market Failures, and Development," American Economic Review, American Economic Association, American Economic Association, vol. 79(2), pages 197-203, May.
    2. Shefrin, Hersh M. & Statman, Meir, 1984. "Explaining investor preference for cash dividends," Journal of Financial Economics, Elsevier, Elsevier, vol. 13(2), pages 253-282, June.
    3. 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, Elsevier, vol. 20(3), pages 353-369, September.
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