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Railroads, Reallocation, and the Rise of American Manufacturing

Hornbeck, Richard - 2019

We examine impacts of market integration on the development of American manufacturing, as railroads expanded through the latter half of the 19th century. Using new county-by-industry data from the Census of Manufactures, we estimate substantial impacts on manufacturing productivity from relative...

Persistent link: https://www.econbiz.de/10012480538

Economic Growth in a Cross-Section of Cities

Glaeser, Edward L. - 1995

We examine the relationship between urban characteristics in 1960 and urban growth (income and population) between 1960 and 1990. Our major findings are that income and population growth move together and both types of growth are (1) positively related to initial schooling, (2) negatively...

Persistent link: https://www.econbiz.de/10012473880

Regional Growth and Migration : A Japan-U.S. Comparison

Barro, Robert J. - 1992

Do poor economies grow faster than rich ones? This important economic question (which we call [beta]-convergence) is … of convergence in both countries: poor prefectures and states grow faster. We also find that there is intraregional as … well as interregional convergence. We analyze the cross sectional standard deviation across prefectures and states. We find …

Persistent link: https://www.econbiz.de/10012474942

Railroads and American Economic Growth : A "Market Access" Approach

Donaldson, Dave - 2013

This paper examines the historical impact of railroads on the American economy. Expansion of the railroad network may have affected all counties directly or indirectly - an econometric challenge that arises in many empirical settings. However, the total impact on each county is captured by...

Persistent link: https://www.econbiz.de/10012459450

Industrial Clusters in the Long Run : Evidence from Million-Rouble Plants in China

Heblich, Stephan; Seror, Marlon; Xu, Hao; Zylberberg, Yanos - National Bureau of Economic Research - 2022

We identify negative spillovers exerted by large, successful manufacturing plants on other local production facilities in China. A short-lived alliance between the U.S.S.R. and China led to the construction of 150 "Million-Rouble plants" in the 1950s. Our identification strategy exploits the...

Persistent link: https://www.econbiz.de/10013477236

Homeward Bound : How Migrants Seek Out Familiar Climates

Obolensky, Marguerite; Tabellini, Marco; Taylor, Charles A. - National Bureau of Economic Research - 2024

This paper introduces the concept of "climate matching" as a driver of migration and establishes several new results. First, we show that climate strongly predicts the spatial distribution of immigrants in the US, both historically (1880) and more recently (2015), whereby movers select...

Persistent link: https://www.econbiz.de/10014468235

Government Debt and Capital Accumulation in an Era of Low Interest Rates

Mankiw, Nicholas Gregory - National Bureau of Economic Research - 2022

This essay discusses the reasons for and implications of the decline in real interest rates around the world over the past several decades. It suggests that the decline in interest rates is largely explicable from trends in saving, growth, and markups. In this environment, greater government...

Persistent link: https://www.econbiz.de/10013210052

Latent Heterogeneity in the Marginal Propensity to Consume

Lewis, Daniel J.; Melcangi, Davide; Pilossoph, Laura - National Bureau of Economic Research - 2024

We estimate the unconditional distribution of the marginal propensity to consume (MPC) using clustering regression applied to the 2008 economic stimulus payments. By deviating from the standard approach of estimating MPC heterogeneity using interactions with observables, we can recover the full...

Persistent link: https://www.econbiz.de/10014544800

Political Connections, Allocation of Stimulus Spending, and the Jobs Multiplier

Choi, Joonkyu; Penciakova, Veronika; Saffie, Felipe - National Bureau of Economic Research - 2024

We study the role of firms' political influence on the effectiveness of government spending using ARRA as a laboratory. Through an IV approach, we show that a 10 percentage points increase in the share of politically connected spending lowers the job creation effect of stimulus by 33 percent at...

Persistent link: https://www.econbiz.de/10014576603

State-Dependent Local Projections : Understanding Impulse Response Heterogeneity

Cloyne, James; Jordà, Òscar; Taylor, Alan M. - National Bureau of Economic Research - 2023

An impulse response is the dynamic average effect of an intervention across horizons. We use the well-known Kitagawa-Blinder-Oaxaca decomposition to explore a response's heterogeneity over time and over states of the economy. This can be implemented with a simple extension to the usual local...

Persistent link: https://www.econbiz.de/10014226168