This paper presents empirical evidence on the hypothesis that aggregate price disturbances cause or worsen financial instability. We construct two annual indexes of financial conditions for the United States covering 1790-1997, and estimate the effect of aggregate price shocks on each index...

This paper traces the diffusion of fair employment legislation at the state level and evaluates the relative importance of various demographic, political, and economic factors in the promotion (or at least the acceptance) of the principle of government-enforced anti-discrimination policy. The...

In the late 19th and early 20th centuries, the North American agricultural frontier moved for the first time into semi-arid regions where farming was vulnerable to drought. Farmers who migrated to the region had to adapt their crops, techniques, and farm sizes to better fit the environment. But...

This paper describes the first step in a larger project to build up regional estimates of economic growth before 1800 in the parts of North America that became the United States. In it we employ the method of conjectural estimation to develop new estimates of the rate of economic growth in the...

The United States is often taken to be the exemplar of the benefits of a monetary union. Since 1788 Americans, with the exception of the Civil War years, have been able to buy and sell goods, travel, and invest within a vast area without ever having to be concerned about changes in exchange...

Based on data from several samples of probate inventories we construct and analyze a time series of slave prices for South Carolina from 1722 to 1809. These estimates reveal that prices fluctuated without trend prior to the 1760s and then began to rise rapidly, more than doubling by the early...

This paper assembles new data and new methods for studying wealth inequality trends in industrializing America. Records of household heads from the census matched with real and personal property tax records for Massachusetts reveal that the Theil entropy measure of inequality approximately...

This paper examines variations in stature and the Body Mass Index (BMI) across space for the United States in 1917/18, using published data on the measurement of approximately 890,000 recruits for the American Army for World War I. It also connects those anthropometric measurements with an index...

Using data from samples of probate inventories we construct a series of slave prices for Low Country South Carolina and Georgia covering the period 1722-1815. Using these data we examine variations in slave prices by age and sex, as well as geographic variations between and within the two...

The Argentine economy was transformed in the late nineteenth century by the mass migration of millions of Europeans. Various ideas have surfaced concerning the likely impact of this labor inflow: that it favored the wheat revolution on the pampas; that it promoted urbanization and the rapid...