作者：University of Washington; University of Washington Seattle
摘要：A substantial literature exists claiming the adoption of tractors was inefficiently slow. We develop a linear programming model of farms that specifically incorporates the opportunity cost of the farmer's time and apply it to farms in Iowa during the interwar period. We develop technological coefficients derived at the task level, based on the data and agricultural reports from that period. By valuing the time saved by tractors, we demonstrate that the seemingly slow rate of tractor adoption w...
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
