INEQUALITY AND REDISTRIBUTION: EVIDENCE FROM US COUNTIES AND STATES, 1890-1930

• 成果类型: Article
• 署名作者: Ramcharan, Rodney
• 署名单位: International Monetary Fund
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00029
• 发表日期: 2010-11
• 页码: 729-744
• 关键词: growing degree-days; identification; institutions; GROWTH; size; RISK

摘要

Does economic inequality affect redistributive policy? This paper turns to U.S. county data on land inequality over the period 1890 to 1930 to help address this fundamental question in political economy. Redistributive policy was primarily decided at the local level during this period, making county-level data particularly informative. Examining within-state variation also reduces the potential impact of latent institutional and political variables. The paper also uses a variety of identification strategies, including historic variables as well as county weather and crop characteristics, as instruments for land inequality. The evidence consistently suggests that greater inequality is significantly associated with less redistribution. This negative relationship is especially large in heavily rural counties, where concentrated landownership implied that landed elites also controlled the majority of economic production.