-
作者:University of Arizona; National Bureau of Economic Research
摘要:The weather-information problem faced by settlers of semi-arid regions of the Great Plains hindered their attempts to adapt their crops, techniques, and farm sizes. Episodes of homestead settlement and collapse in western Kansas in 1893-1894 and in eastern Montana in 1917-1921 are examined. A Bayesian learning model indicates how new climate information was incrementally incorporated to revise views of agricultural prospects. Primary data show homesteaders' lagged response to new drought infor...
-
作者:Northwestern University
-
作者:Lafayette College; National Bureau of Economic Research
摘要:In the early nineteenth century, the Suffolk Bank established a regional banknote clearing network. Despite the benefits offered, many of the system's member banks were unhappy with it and quickly affiliated with an alternative clearing network as soon as it appeared. The reason for the quick abandonment of the Suffolk system was that it failed to price its network clearing services efficiently. Pressured by large Boston banks to shift the costs of the system to small country banks, the Suffol...
-
作者:Indiana State University
-
作者:State University System of Florida; University of Central Florida
-
作者:Columbia University
-
作者:Princeton University
-
作者:University of Munich
-
作者:University System of Maryland; University of Maryland College Park
摘要:This article investigates the distributional impact of the abolition of feudalism during the French Revolution. Landlords ostensibly benefitted from laws permitting them to raise rents by the equivalent of the former tithe. Increasingly, however, the state appropriated this windfall by raising land taxes. Tenants ultimately shouldered a double burden of higher rents and heavier taxes, and they often responded with acts of evasion. But the new financial pressures on tenants and landlords were o...