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Jian, Tianlun - 1996

Several recent studies have examined the tendency of regions within a nation to exhibit long-term convergence in per … capita income levels. Barro and Sala-i-Martin (1991, 1992, 1995) have found a tendency towards convergence among the U … convergence among the provinces of China during the period 1952-1993. We find that real income convergence of provinces in China …

Persistent link: https://www.econbiz.de/10012473452

Persistence and Path Dependence in the Spatial Economy

Allen, Treb - 2020

How much of the spatial distribution of economic activity today is determined by history rather than by geographic fundamentals? And if history matters for the distribution, does it also affect overall efficiency? This paper develops a tractable theoretical and empirical framework that aims to...

Persistent link: https://www.econbiz.de/10012482278

Growth in Regions

Gennaioli, Nicola - 2013

convergence within and across countries. Regional growth is shaped by similar factors as national growth, such as geography and … human capital. Regional convergence is about 2.5% per year, not more than 1% per year faster than convergence between … countries. Regional convergence is faster in richer countries, and countries with better capital markets. A calibration of a …

Persistent link: https://www.econbiz.de/10012459724

The Rise of American Ingenuity : Innovation and Inventors of the Golden Age

Akcigit, Ufuk - 2017

We examine the golden age of U.S. innovation by undertaking a major data collection exercise linking historical U.S. patents to state and county-level aggregates and matching inventors to Federal Censuses between 1880 and 1940. We identify a causal relationship between patented inventions and...

Persistent link: https://www.econbiz.de/10012455633

Mechanics of Spatial Growth

Cai, Sheng; Caliendo, Lorenzo; Parro, Fernando; Xiang, Wei - National Bureau of Economic Research - 2022

We develop a dynamic spatial growth model to explore the role of trade and internal migration in the process of spatial development and aggregate growth. Growth is shaped by the best global and local ideas that contribute to the local stock of knowledge. Global ideas diffuse more to locations...

Persistent link: https://www.econbiz.de/10013435141

On the Geographic Implications of Carbon Taxes

Conte, Bruno; Desmet, Klaus; Rossi-Hansberg, Esteban - National Bureau of Economic Research - 2022

A unilateral carbon tax trades off the distortionary costs of taxation and the future gains from slowing down global warming. Because the cost is local and immediate, whereas the benefit is global and delayed, this tradeoff tends to be unfavorable to unilateral carbon taxes. We show that this...

Persistent link: https://www.econbiz.de/10013462726

Sprouting Cities : How Rural America Industrialized

Eckert, Fabian; Juneau, John; Peters, Michael - National Bureau of Economic Research - 2023

We study the joint process of urbanization and industrialization in the US economy between 1880 and 1940. We show that only a small share of aggregate industrialization is accounted for by the relocation of workers from remote rural areas to industrial hubs like Chicago or New York City....

Persistent link: https://www.econbiz.de/10013537768

Spatial Structural Change

Eckert, Fabian; Peters, Michael - National Bureau of Economic Research - 2022

Between 1880 and 1920, the US agricultural employment share fell from 50% to 25%. However, despite aggregate demand shifting away from their sector of specialization, rural labor markets saw faster wage growth and industrialization than non-agricultural parts of the US. We propose a spatial...

Persistent link: https://www.econbiz.de/10013388845

Do Government Spending Multipliers Depend on the Sign of the Shock?

Ben Zeev, Nadav; Ramey, Valerie A.; Zubairy, Sarah - National Bureau of Economic Research - 2023

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...

Persistent link: https://www.econbiz.de/10014247936

Exorbitant Privilege Gained and Lost : Fiscal Implications

Chen, Zefeng; Jiang, Zhengyang; Lustig, Hanno; … - National Bureau of Economic Research - 2022

We study three centuries of U.K. fiscal history. Before WW-I, when the U.K. dominated global bond markets, the U.K.'s government debt was not always fully backed by its future surpluses, even after accounting for the seigniorage revenue from convenience yields. As predicted by theories of safe...

Persistent link: https://www.econbiz.de/10013210087