作者：Federal Reserve System - USA; Federal Reserve Bank - St. Louis
摘要：This note investigates the sources of variation in the growth of per capita personal incomes across U.S. states during the Great Depression.(1) States entering the economic contraction with relatively low per capita incomes tended to suffer larger percentage declines in per capita income than did high income states. By contrast, low-income states tended to experience larger percentage gains during the recovery. Hence, state per capita incomes diverged during the contraction phase and converged...
作者：Boston University; National Bureau of Economic Research
作者：University of California System; University of California Riverside
作者：University of Warwick; Sogang University
摘要：On the basis of new historical research on the Soviet command system we analyze the choices of a plan-setter and an effort-setter who interacted with each other and an external market to determine real output, hidden inflation, and the quality of corruption. We show that the performance of the Soviet economy was affected not only by the level of corruption but also by its quality, that is, how corrupt incomes were used. Our results explain rapid Soviet economic growth despite high corruption l...
