-
作者:Duke University; Texas A&M University System; Texas A&M University College Station; University of Tennessee System; University of Tennessee Knoxville
-
作者:Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
-
作者:Pontificia Universidad Catolica de Chile; City St Georges, University of London
摘要:We show that the sale of state-owned firms in dictatorships can help political corporations to emerge and persist over time. Using new data, we characterize Pinochet's privatizations in Chile and find that some firms were sold underpriced to politically connected buyers. These newly private firms benefited financially from the Pinochet regime. Once democracy arrived, they formed connections with the new government, financed political campaigns, and were more likely to appear in the Panama Pape...
-
作者:University System of Maryland; University of Maryland College Park
-
作者:Federal Reserve System - USA; Federal Reserve Bank - St. Louis
-
作者:Statistics Norway; Oslo Metropolitan University (OsloMet)
摘要:This paper studies the impact of the construction of hydropower facilities on labor market outcomes in Norway at the turn of the twentieth century (1891-1920). The sudden breakthrough in hydropower technology provides a quasi-experimental setting, as not all municipalities had suitable natural endowments and the possible production sites were often located in remote areas. We find that hydropower municipalities experienced faster structural transformation and displayed higher occupational mobi...
-
作者:Federal Reserve System - USA; Federal Reserve Bank - Chicago
-
作者:University of Warwick; University of Washington; University of Washington Seattle; Chapman University System; Chapman University
-
作者:Yale University; Tulane University
-
作者:University of California System; University of California Berkeley
摘要:The late nineteenth century is often described as an era of innovation in managerial practice, including accounting. However, despite rich case studies of individual firms, we have little quantitative knowledge of average practices. This paper uses errors and omissions in balance statements to estimate the prevalence of double-entry bookkeeping and depreciation at Massachusetts corporations between 1875-1895. In 1875, 62 percent of firms balanced their returns, but by 1895 this number exceeded...