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Ito, Takatoshi - 1993

In analyzing the dynamics of Tokyo housing price, we have compiled annual micro data sets from individual listings in a widely-circulated real estate advertising magazine. A data set compiled from "properties for investment" lists both asking (sales) prices and rents for the same properties....

Persistent link: https://www.econbiz.de/10012474571

Business Groups and the Big Push : Meiji Japan's Mass Privatization and Subsequent Growth

Morck, Randall - 2007

Japan's zaibatsu, or pyramidal business groups, provided this coordination after the Meiji government failed at the task. We … that unique historical circumstances aided their success in prewar Japan. Specifically, Japan uniquely marginalized its … feudal elite; withdrew its hand with a propitious mass privatization that rallied the private sector; marginalized an …

Persistent link: https://www.econbiz.de/10012465482

Collusive Investments in Technological Compatibility : Lessons from U.S. Railroads in the Late 19th Century

Gross, Daniel P. - 2019

Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...

Persistent link: https://www.econbiz.de/10012480205

Railroads of the Raj : Estimating the Impact of Transportation Infrastructure

Donaldson, Dave - 2010

How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, this paper uses archival data from colonial India to investigate the impact of India's vast railroad network. Guided by four predictions from a general...

Persistent link: https://www.econbiz.de/10012462170

Agricultural Improvements and Access to Rail Transportation : The American Midwest as a Test Case, 1850-1860

Atack, Jeremy - 2009

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/10012463129

Did Railroads Induce or Follow Economic Growth? Urbanization and Population Growth in the American Midwest, 1850-60

Atack, Jeremy - 2009

For generations of scholars and observers, the "transportation revolution," especially the railroad, has loomed large as a dominant factor in the settlement and development of the United States in the nineteenth century. There has, however, been considerable debate as to whether transportation...

Persistent link: https://www.econbiz.de/10012464009

Railroads and Local Economic Development : The United States in the 1850s

Haines, Michael R. - 2006

Most of the estimated effects are small and the signs are not wholly consistent with either model, under the null hypothesis that agriculture was the chief beneficiary of rail access. For example, we find that rail access appears to have increased urbanization, raised the likelihood of...

Persistent link: https://www.econbiz.de/10012466284

Technological Revolutions and Stock Prices

Pastor, Lubos - 2005

We develop a general equilibrium model in which stock prices of innovative firms exhibit "bubbles" during technological revolutions. In the model, the average productivity of a new technology is uncertain and subject to learning. During technological revolutions, the nature of this uncertainty...

Persistent link: https://www.econbiz.de/10012466795

Rail Reform Strategies : The Australian Experience

Owens, Helen - 2003

Widely different approaches to rail reform are evident across countries and within Australia. Reforms have involved structural separation (both vertical and horizontal) and varying degrees of private sector involvement. Evidence from Australian experience suggests that no one size fits all. The...

Persistent link: https://www.econbiz.de/10012469107

Mergers, Deregulation and Cost Savings in the U.S. Rail Industry

Berndt, Ernst R. - 1991

The success of deregulation in creating a viable private rail freight system in the ?U.S. since 1979 is relatively undisputed. Deregulation has proceeded in three ways: (i) eased rate setting restrictions; (ii) simplified merger applications and approval procedures; and (iii) relaxed route...

Persistent link: https://www.econbiz.de/10012475256

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