作者：Bowdoin College; National Bureau of Economic Research
作者：University of Michigan System; University of Michigan
作者：Utah System of Higher Education; Utah State University; Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：Financial network structure is an important determinant of systemic risk. This article examines how the U.S. interbank network evolved over a long and important period that included two key events: the founding of the Federal Reserve and the Great Depression. Banks established connections to correspondents that joined the Federal Reserve in cities with Fed offices, initially reducing overall network concentration. The network became even more focused on Fed cities during the Depression, as sur...
作者：Massachusetts Institute of Technology (MIT)
作者：College of New Jersey; University of California System; University of California Davis; National Bureau of Economic Research; Stellenbosch University
摘要：The boll weevil spread across the South from 1892 to 1922 with devastating effect on cotton cultivation. The resulting shift away from this child labor-intensive crop lowered the opportunity cost of school attendance. We investigate the insect's long-run effect on educational attainment using a sample of adults from the 1940 census linked back to their childhood census records. Both white and black children who were young (ages 4 to 9) when the weevil arrived saw increased educational attainme...
