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作者:University System of Ohio; Ohio State University
摘要:Using the 1888 Cost of Living Survey, I estimate the demand for calories of American and British industrial workers. I find that the income and expenditure elasticities of calories for American households are significantly lower than the corresponding elasticities for British households, suggesting that American industrial workers were nutritionally better off than their British counterparts. I further find that the calorie elasticity differential between the two countries was driven by the hi...
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作者:Davidson College
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作者:Stanford University
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作者:University of Lausanne
摘要:Some English country banks were more like modem venture capital firms than modem banks in terms of legal and managerial structure, size and source of investment funding, size and nature of investments, and riskiness. This is exemplified by Praed & Co. of Truro, which was heavily engaged in financing the adoption of a risky new technology-Watt steam engines-by Cornish copper mines in the period 1775-1800. If some banks were proto-venture capital firms, rather than proto-banks, then their illiqu...
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作者:University of Colorado System; University of Colorado Boulder
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作者:Santa Clara University; National Bureau of Economic Research
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作者:University of Kansas
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作者:University of California System; University of California Davis
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作者:The Vanguard Group, Inc.
摘要:The NBER's pre-World War I dating of business cycles implies that the U.S. economy spent nearly every other year in recession. This article extends earlier efforts at redating for the 1796-1914 period using a single metric: Davis's (2004) annual industrial production index. The new chronology alters more than 40 percent of the peak and troughs and removes the most questionable cycles. An important implication of this is the lack of discernible differences in the frequency and duration of indus...
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作者:Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Tufts University
摘要:By the end of the Civil War 186,017 black men had served in the Union Army, roughly three-quarters of whom were former slaves. Because most black soldiers were illiterate farm workers, the war exposed them to a much broader world. Their wartime experience depended upon their peers, their commanding officers, and where their regiment toured and affected their later life outcomes. In the short run the combat units benefited from company homogeneity, which built social capital and minimized shirk...