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作者：University System of Maryland; University of Maryland College Park
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作者：Middlebury College
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作者：Boston University
摘要：How much of the rapid growth in output per man-hour in nineteenth-century cotton weaving arose from technical change and how much arose from price-driven substitution of capital for labor? Using an engineering production function, I find that factor price changes account for little of the growth in output per man-hour. However, much of the growth and most of the apparent labor-saving bias arose not from inventions, but from improved labor quality- better workers spent less time monitoring the ...
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作者：Vanderbilt University
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作者：University of London; London School Economics & Political Science
摘要：The Central European panic of the spring 1931 is often presented as a cause of the sterling crisis of September. But what was the transmission channel? This article explores how the continent's financial troubles affected Britain's banking system. The freeze of Central European assets created a liquidity strain for London merchant banks because they had accepted (guaranteed) the commercial bills of German merchants. I use new balance sheet data to quantify this shock and explore how the liquid...
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作者：University of Wisconsin System
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作者：University of Tennessee System; University of Tennessee Knoxville
摘要：Economists frequently hypothesize that industrialization contributed to the United States' nineteenth-century fertility decline. I exploit the circumstances surrounding industrialization in South Carolina between 1881 and 1900 to show that the establishment of textile mills coincided with a 6-10 percent fertility reduction. Migrating households are responsible for most of the observed decline. Higher rates of textile employment and child mortality for migrants can explain part of the result, a...
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作者：University of Wisconsin System; University of Wisconsin Madison
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作者：Boston University; Federal Reserve System - USA; Federal Reserve System Board of Governors; National Bureau of Economic Research
摘要：Executive pay fell during the 1940s, marking the last notable decrease in the past 70 years. We study this decline using a new panel data set on the remuneration of top executives in 246 firms. Government regulation including explicit salary restrictions and taxation had, at best, a modest effect on executive pay. By contrast, a decline in the returns to firm size and an increase in the power of labor unions contributed greatly to the reduction in executive compensation relative to other worke...
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作者：Northwestern University
