作者：University of California System; University of California Davis
摘要：This article analyzes the revolutionary impact the tractor had on rural America and examines the economic, technological, and institutional factors governing the machine's diffusion. Our simultaneous-equation regression model helps decipher the complex relationship between farm scale and diffusion. In addition, analyzing diffusion as a capital replacement problem reveals that the shift to the new technology was far more rapid than what has generally been thought and provides anew perspective o...
作者：Yale University
摘要：Credit cooperatives were widespread in nineteenth-century Germany, which is surprising given that country's highly developed banking system. One general explanation for the success of credit cooperatives emphasizes their ability to capitalize on superior information and to impose inexpensive but effective sanctions on defaulters. These features supposedly permit cooperatives to lend to individuals whom banks would spurn, and to tailor loan terms more closely to borrowers' needs. I use the busi...
作者：Drexel University; Texas A&M University System; Texas A&M University College Station
作者：University of Arizona; National Bureau of Economic Research
作者：University of California System; University of California Los Angeles
