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作者：University of Groningen
摘要：Technology shocks and declining productivity have been advanced as important factors driving the Great Depression in the United States, based on real business cycle theory. We estimate an improved measure of technology for interwar manufacturing, using data from the U.S. census reports. There is clear evidence of increasing returns to scale and we find no statistical proof that technology shocks led to changes in hours worked or other inputs. This contradicts a key prediction of real business ...
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作者：University of Hull
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作者：European Central Bank; Bank of France
摘要：This article analyzes the economics of badmouthing in the context of the pre-1914 French capital market. We argue that badmouthing was a means through which racketeering journals sought to secure property rights over issuers' reputation. We provide a theoretical study of the market setup that emerged to deal with such problems, and we test our predictions using new evidence from contemporary sources.
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作者：University System of Georgia; University of Georgia
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作者：University of Michigan System; University of Michigan
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作者：University of Reading
摘要：Department stores represented one of the most advertising-intensive sectors of American interwar retailing. Yet it has been argued that a competitive spiral of high advertising spending, to match the challenge of other local department stores, contributed to an inflation of operating costs that eroded long-term competitiveness. We test these claims, using both qualitative archival data and establishment-level national data sets. The quantitative analysis confirms that the relationship between ...
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作者：KU Leuven; Hasselt University; KU Leuven; Universite Catholique Louvain
摘要：Economic interests, ideas, and politics have been put forward as explanations for the Repeal of the British Corn Laws. This article evaluates these competing explanations using the case of the Belgian Corn Laws between 1834 and 1873. A detailed quantitative analysis assesses the success of party affiliation and personal and constituency economic interests in predicting representatives' voting behavior. These factors prove to be insufficient to explain the shift towards free trade. This article...
