Greenwood, Jeremy; Seshadri, Ananth - Federal Reserve Bank of Cleveland - 2001
Between 1800 and 1940, the United States went through a dramatic demographic transition. In 1800, the average woman had seven children, and 94 percent of the population lived in rural areas. By 1940, the average woman birthed just two kids, and only 43 percent of the populace lived in the...