作者：University of Oxford
摘要：The spinning jenny helps explain why the Industrial Revolution occurred in Britain rather than in France or India. Wages were exceptionally high relative to capital prices in Britain., so the jenny was profitable to use in Britain but not elsewhere. Since it was only profitable to use the jenny in Britain, that was the only country where it as worth incurring the costs of developing it. Irrespective of the quality of their institutions or the progressiveness of their cultures, neither the Fren...
作者：University of California System; University of California Los Angeles
摘要：Four million blacks left the South from 1940 to 1970, doubling the northern black workforce. I exploit variation in migrant flows within skill groups over time to estimate the elasticity of substitution by race. I then use this estimate to calculate counterfactual rates of wage growth. I find that black wages in the North would have been around 7 percent higher in 1970 if not for the migrant influx, while white wages would have remained unchanged. On net, migration was an avenue for black econ...
作者：Max Planck Society
摘要：Managerial firms and cartels were central components of the German economy during the late nineteenth and early twentieth century. Based on stochastic frontier regressions, we show for a sample of coal mining corporations and the period 1881-1913 that cartelization did not affect productive efficiency. Bonuses paid to board members, however, did increase the efficiency of coal mining firms. Thus, one pillar of the German economic model did not negatively affect economic efficiency, whereas ano...
