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Covered mortgage bonds have been used successfully in Europe for two centuries, but failed in the U.S. when introduced as farm mortgage debentures in the 1880s. Using firm-level data and a sample of loans made by one Kansas mortgage company, I find that debenture programs grew out of established...
Persistent link: https://www.econbiz.de/10013139744
-out. With the benefit of long-run historical perspective, supporting local agricultural production does not appear to generate …
Persistent link: https://www.econbiz.de/10013100368
mechanized and modernized agricultural production relative to landowners in nearby similar non-flooded counties. Landowners … resisted black out-migration, however, benefiting from the status quo system of labor-intensive agricultural production …
Persistent link: https://www.econbiz.de/10013101831
When asked to name one proposition in the social sciences that is both true and non-trivial, Paul Samuelson famously replied: 'Ricardo's theory of comparative advantage'. Truth, however, in Samuelson's reply refers to the fact that Ricardo's theory of comparative advantage is mathematically...
Persistent link: https://www.econbiz.de/10013107916
-subsistence agriculture is highly sensitive both to agricultural productivity levels and to transportation costs. The model also suggests …A large fraction of Uganda's population continues to earn a living from quasi-subsistence agriculture. This paper uses … a static general equilibrium model to explore the relationships between high transportation costs, low productivity, and …
Persistent link: https://www.econbiz.de/10013070062
agriculture in the typical country, and particularly so in developing countries. Taken at face value, this "agricultural …
Persistent link: https://www.econbiz.de/10013073187
discuss the role of reforms in agriculture, enterprises, and international integration in this process. In addition to the … drastic move of employment away from agriculture toward services and manufacturing, we also document the movement of workers …
Persistent link: https://www.econbiz.de/10013073197
. For new technologies, the case of agriculture demonstrates that government has an important role in antitrust, the …
Persistent link: https://www.econbiz.de/10013039091
During the 1850s, land in U.S. farms surged by more than 100 million acres while almost 50 million acres of land were transformed from their raw, natural state into productive farmland. The time and expense of transforming this land into a productive resource represented a significant fraction...
Persistent link: https://www.econbiz.de/10013039250
Victory in the War for Independence brought a vast amount of land within the grasp of the new American nation -- territory stretching from the Appalachian Mountains to the Mississippi River between the southern shores of the Great Lakes and Spanish Florida. These lands were initially claimed by...
Persistent link: https://www.econbiz.de/10013152595