We explore the long run impact of the Spanish missions on Native American outcomes in the early 20th century. Native communities who interacted with Spanish missionaries developed into enclaves which blended Catholicism with native culture. Some survived assaults on their property rights by...

We analyze whether government spending multipliers differ by the sign of the shock. Using aggregate historical U.S. data, we apply Ben Zeev's (2020) nonlinear diagnostic tests and find evidence of nonlinearities in the impulse response functions of both government spending and GDP. We then...

1 Introduction: Overview -- 2 Japan's Industrial Structure: Forced to Change (1973–1982) -- 3 The global responsibilities of an economic superpower (1981–1992) -- 4 Long-Term Depression and Economic Structural Reform (1991–2000) -- 5 Conclusion: The Emergence of a Twenty-First-Century...

De-concentration after World War I -- De-concentration after World War I (part 2) -- The renewed dominance of finance capital under the Depression -- The growing community of interests -- The new oligarchy -- Finance capital in federal finance.