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作者：Irwin, Douglas A.
摘要：In the late nineteenth century, the United States imposed high tariffs to protect domestic manufacturers from foreign competition. This article examines the magnitude of protection given to import-competing producers and the costs imposed on export-oriented producers by focusing on changes in the domestic prices of traded goods relative to nontraded goods. The results suggest that the 30 percent average import tariff gave about a 17 percent implicit subsidy to import-competing producers and ef...
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作者：University of Lausanne
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作者：Santa Clara University
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作者：Amherst College
摘要：This article examines how the marine insurance industry evolved in Britain and America during its critical formative period, focusing on the information asymmetries and agency problems that were inherent to the technology of overseas trade at the time, and on the path-dependent manner in which the institutions that addressed these problems evolved. I argue that the market was characterized by multiple equilibria because of a potential lemons problem. Exogenous shocks and endogenous institution...
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作者：Boston University
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作者：Smith College
摘要：Locomotive inspection was among the most important Progressive Era federal workplace regulations. Inspection rules were enforced by a new Bureau of Locomotive Inspection, which claimed credit for subsequent safety improvements. Relying on published and unpublished data this article assesses these claims. Literary sources suggest that the bureau achieved compliance by emphasizing regulatory benefits and that its activities sharply reduced locomotive defects through the 1920s, in part by reducin...
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作者：Jawaharlal Nehru University, New Delhi
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作者：University of Mississippi
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作者：Gettysburg College
摘要：The liturgical system in Classical Athens (479-322 BCE) privately provided public goods, including naval defense. I use it to evaluate mechanism design policies and to address uncertainties in the historical record by adding predictive economic theory to research by ancient historians. I evaluate the system's success at meeting the conflicting goals of efficiency, feasibility, and budget balance by analyzing the Athenian citizens' incentives within a game of asymmetric information. In the game...
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作者：Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
