-
作者：University of Minnesota System; University of Minnesota Twin Cities; Auburn University System; Auburn University; University of Missouri System; University of Missouri Columbia
摘要：We study how firms allocate resources across their constituent establishments in response to local economic shocks in the context of the Great Depression. Using establishment-level data from the Census of Manufactures, we find that establishments in multi-plant firms are affected by local shocks in the regions in which the other establishments comprising the firm are located. In particular, establishment employment is positively affected by positive shocks to the local supply of credit to othe...
-
作者：Middlebury College; University of London; London School Economics & Political Science
摘要：The eighteenth-century French slave ship the Bonne Soci & eacute;t & eacute; traded bundles of goods in exchange for slaves in Loango. We present detailed evidence from the ship's trading log that decomposes the goods in the bundle and identifies the European and African merchants selling captives to the ship. Prices steadily increased throughout the captain's stay in port, and the captain increased the bundle's price by adding more goods and adding high-priced goods. Sellers participated both...
-
作者：Harvard University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Harvard University
摘要：We study the effects of immigration on natives' marriage, fertility, and family formation across U.S. cities between 1910 and 1930. Using a shift-share design, we find that natives living in cities that received more immigrants were more likely to marry, have children, and leave the parental house earlier. Our evidence suggests that immigration increased native men's employment, thereby raising the supply of native marriageable men. We consider alternative channels-such as compositional change...
-
作者：Federal Reserve System - USA
-
作者：University of Victoria
-
作者：[Anonymous]
-
作者：Santa Clara University; National Bureau of Economic Research; University of California System; University of California Irvine
摘要：Bank distress was a defining feature of the Great Depression in the United States. Most banks, however, weathered the storm and remained in operation throughout the contraction. We show that surviving banks cut lending when depositors withdrew funds en masse during panics. This panic-induced decline in lending explains about one-third of the reduction in aggregate commercial bank lending between 1929 and 1932, more than twice as much as attributed to the failure of banks.
-
作者：Centre for Economic Policy Research - UK; University of Oxford
摘要：We study electoral campaigns over the long run, through the lens of their spending. We build a novel, exhaustive dataset on U.K. general elections from 1857 to 2017. We provide quantitative insights on the history of campaigns, including the shift away from paid staff toward advertising. We then show that the correlation between candidate spending and votes has strongly increased since the 1880s, peaking in the last quarter of the twentieth century. We link this pattern to the introduction of ...
-
作者：Keio University; University of Bern; University of Birmingham
摘要：We explore the role that large fires played in the early development of the Japanese fire insurance industry. Using a prefecture-level data set spanning 30 years, our econometric analysis shows that large fires led to an increase in new policies and policy renewals, consistent with historical narratives that insurance companies used these events to advertise their business. We also show that this subsequent surge in policies led to more small fires due to arson. Anecdotal evidence suggests tha...
-
作者：University of Oxford; University System of Maryland; University of Maryland College Park
摘要：Although long-run economic performance has improved primarily through a decline in the rate and frequency of shrinking rather than through an increase in the rate of growing, most analysis of economic development has focused on increasing the rate of growing. We examine the forces making for a reduction in the rate of shrinking. The main proximate factors considered are (1) structural change, (2) technological change, (3) demographic change, and (4) stabilization policy. We conclude by conside...
