Historical anti-Semitism is measured by pre-modern pogroms and anti-Semitic party vote share.

Evidence

Columns (1), (2), (4), and (5) report results for regression equation (2). Columns (3) and (6) use a difference-in-differences framework at the city-time level, covering the elections between May 1928 and September 1932. The dummy danat takes on a value of one if a city has above-average exposure or a branch of Danatbank. The dummy post 1931m7 takes on a value of one for the period after the July 1931. no AS (no pog) refers to cities where a historical anti-Semitic party did not enter the election or received a zero vote share (that had no pogrom between 1349 and 1920), yes AS (had pog) to cities in which the party received a positive vote share (that had a pogrom). Controls include log population, share blue collar, share protestant, share Jewish, all of 1925. Standard errors are robust. — Sebastian Doerr et al., Financial Crises and Political…, 269

Categorization

• DEFINE: Defines the two proxies for the cultural channel: ‘no AS’ vs ‘yes AS’ cities and ‘had pogrom’ vs ‘no pogrom’. Essential for interpreting the interaction terms.
• QUESTION: Pogroms between 1349 and 1920 are a very long-run proxy; worth checking whether the exposure measures in this study are validated against any contemporary anti-Semitic sentiment data.