Despite the diverse and developed nature of twentieth century U.S. and Canadian financial markets, the history of both economies is replete with claims of inefficiency and inadequacy among financial intermediaries, particularly the banking sectors. In Canada it has been argued that banks were...

We explore the impact of one of the earlier epidemics to hit natives living in the Hudson Bay drainage basin: the smallpox outbreak of 1780-82. We review contemporary descriptions of the epidemic and how Europeans at the time viewed its impact on the native population of the region. We then...

The Great Divergence in standards of living for populations around the world occurred in the late 18th century. Prior to that date, evidence suggests that real wages of most Europeans, many living in China and India were similar. Some were a little higher and some a little lower, but with a low...

Based largely on the Fifteenth Annual Report of the U.S. Department of Labor, published in 1900, we have built a sample of wages and hours for roughly fifty countries in six continents that covers the period 1890-1900. The Report, which is drawn from official (national) publications, gives...

Building on the work of McCalla, McInnis and others we describe the early income of Upper Canada over the period 1826 to 1851. The Municipal Assessments, which report ownership of land, livestock and other property, allow us to develop conjectural estimates of farm income; and various Provincial...

In this paper we use data from more than 2,500 industry-years, reported by the Ohio Division of Labor Statistics, to track changes in employment and weekly wages among male and female production workers and clerical workers between 1914-1937. We find that among Ohio's manufacturing...

The difficulty or inability to borrow made capital market constraints an important part of the decision of potential emigrants to move from Europe to North America. We formalize the constraint with a life-cycle model, where agents jointly choose the optimal period of saving to finance migration...

This paper models the Self-Sufficiency Project (SSP), a controlled randomized experiment concerning welfare. The model of household behavior includes stochastic labor market skill, job opportunities, and value of non-labor market time. All the variation within and between treatment groups,...

This paper examines how changes in immigration policy levers actually affect the skill characteristics of immigrant arrivals using a unique Canadian immigrant landings database. We first review the Canadian experience with a point system as part of its immigrant policy. Section III of the paper...