The data show that an increase in government provided old-age pensions is strongly correlated with a reduction in fertility. What type of model is consistent with this finding? We explore this question using two models of fertility, the one by Barro and Becker (1989), and the one inspired by...

This paper presents an empirical analysis of the relationship between patenting, innovation, and federal antitrust enforcement towards firms in the manufacturing sector. I examine whether the likelihood of antitrust litigation is influenced by patent histories and R&D expenditures, after...

This paper provides a novel perspective on the Great Migration out of the U.S. South. Using a shift-share identification strategy, we show how millions of Southern white migrants transformed the cultural and political landscape across America. Counties with a larger Southern white share by 1940...

Employing a sample of renowned U.S. inventors that combines biographical detail with information on the patents they received over their careers, we highlight the impact of early U.S. patent institutions in providing broad access to economic opportunity and in encouraging trade in new...

Recent scholarship highlights the importance of institutions to the processes of economic growth, but the precise nature of their relationship bears further examination. This paper considers how the evolution of legal institutions has contributed to, and in turn been affected by, major...

Does the lack of international copyrights benefit or harm developing countries? I examine the effects of U.S. copyright piracy during a period when the U.S. was itself a developing country. U.S. statutes since 1790 protected the copyrights of American citizens, but until 1891 deemed the works of...

While the savings of retired singles tend to fall with age, those of retired couples tend to rise. We estimate a rich model of retired singles and couples with bequest motives and uncertain longevity and medical expenses. Our estimates imply that while medical expenses are an important driver of...

The growth in inventive activity during early American industrialization is explored by examining the careers of 160 inventors credited with important technological discoveries. Analysis of biographical information and complete patent histories through 1865 indicates that these 'great inventors'...

We employ the 1860 Census of Manufactures to study rural antebellum manufacturing in the South and Midwest, and find that manufacturing output per capita was similar across regions in counties specialized in the same agricultural products. The southern deficit in manufactures per capita appears...

The presence of a westward-moving frontier of settlement shaped early U.S. history. In 1893, the historian Frederick Jackson Turner famously argued that the American frontier fostered individualism. We investigate the Frontier Thesis and identify its long-run implications for culture and...