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作者:California Institute of Technology
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作者:California Institute of Technology
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作者:University of California System; University of California Davis; Harvard University; University of Wisconsin System; University of Wisconsin Madison
摘要:Building social tables in the tradition of Gregory King, we develop new estimates suggesting that between 1774 and 1800 American incomes fell in real per capita terms. The colonial South was richer than the North at the start, but was already beginning to lose its income lead by 1800. We also find that free American colonists had much more equal incomes than did households in England and Wales. The colonists had greater purchasing power than their English counterparts over all of the income ra...
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作者:University of Northern Iowa
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作者:University of California System; University of California Berkeley
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作者:Tilburg University; Tilburg University; University of Melbourne
摘要:The late Victorian era was characterized by close links between politicians and firms in the United Kingdom, with up to half of all members of Parliament serving as company directors. We analyze 467 British companies over the period 1895 to 1904. An analysis of election results shows that the election of a new tech director is associated with a 2 percent to 2.5 percent increase in that firm's share price, whereas old tech firms were unaffected by the electoral fortunes of their directors. New ...
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作者:California Institute of Technology
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作者:Harvard University
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作者:University of Warwick; Loughborough University
摘要:We report estimates of the fiscal multiplier for interwar Britain based on quarterly data, time-series econometrics, and defense news. We find that the government expenditure multiplier was in the range 0.3 to 0.8, much lower than previous estimates. The scope for a Keynesian solution to recession was less than is generally supposed. We find that rearmament gave a smaller boost to real GDP than previously claimed. Rearmament may, however, have had a larger impact than a temporary public works ...
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作者:University of Toronto