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作者:American University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
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作者:Dartmouth College
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作者:University System of Ohio; Ohio University
摘要:This article examines the impact of what is undoubtedly the most important monetary regime change in U.S. history: the founding of the Federal Reserve System. We find, using a (G)ARCH model, a significant reduction in interest rate uncertainty following the founding of the Fed. Additionally, we show that the passage of the Aldrich-Vreeland Act in 1908, another significant change in policy, also led to a reduction in interest rate uncertainty. These results are robust to alternative interest ra...
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作者:University of California System; University of California Davis
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作者:City University of New York (CUNY) System; City University of New York (CUNY) Graduate School; Queens College NY (CUNY)
摘要:Differential treatment of men and women in nineteenth- and early-twentieth-century labor markets casts doubt on the common practice of adding male and female labor to create a single labor variable in the production function. This article shows that men and women must be disaggregated in the production function, and investigates the effects of inappropriate aggregation on the debate over the Habakkuk-Rothbarth labor scarcity hypothesis. With disaggregation, a female-using bias and an overall l...
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作者:William & Mary
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作者:University System of Ohio; University of Akron
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作者:University of Toronto
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作者:Northwestern University; University of Chicago; National Bureau of Economic Research
摘要:This article uses evidence from the manuscripts of the 1860 federal census to analyze the wealth of adult males in Boston, New York, Chicago, and Indianapolis. Previous multivariate analyses of wealth from the census have been flawed by reliance on ordinary least squares; we instead use quantile regression. Immigrants fared considerably better in the Midwest than the East: immigrants in the midwestern cities held more wealth than their eastern counterparts, both absolutely and relative to the ...
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作者:University of Toronto