Time for Growth
研究了公共机械钟的采用、扩散及其对欧洲经济增长的长期影响，利用日食作为工具变量解决内生性问题，发现早期采用钟表的城市在1500-1700年间人口显著增长。
This paper investigates the adoption, diffusion, and long-run impact of the public mechanical clock, one of the most important high-technology machines in history, on European economic growth and development. We avoid endogeneity by considering the relationship between the adoption of such clocks and an instrumental variable based on the appearance of repeated solar eclipses. Solar eclipses triggered a medieval cultural movement in which people sought to understand the motion of stars and clocks, which resulted in astronomic instruments and symbols of prestige. We find a significant increase in population, especially between 1500 and 1700, in early adopter cities.