Showing 1 - 10 of 1,259
The state of Georgia allocated most of its land to the public through a system of lotteries. These episodes provide unusual opportunities to assess the long-term impact of large shocks to wealth, as winning was uncorrelated with individual characteristics and participation was nearly universal...
Persistent link: https://www.econbiz.de/10012459487
We study how the organization of the state evolves over the process of development of a nation, using a new dataset on the internal organization of the U.S. federal bureaucracy over 1817-1905. First, we show a series of facts, describing how the size of the state, its presence across the...
Persistent link: https://www.econbiz.de/10014337824
In a multiperiod investment framework, firms with high expected growth earn higher expected returns than firms with low expected growth, holding investment and expected profitability constant. This paper forms cross-sectional growth forecasts, and constructs an expected growth factor that yields...
Persistent link: https://www.econbiz.de/10012453011
This paper explores the origins and effects of occupational licensing regulation in late nineteenth and early twentieth … century America. Was licensing regulation introduced to limit competition in the market for professional services at the …
Persistent link: https://www.econbiz.de/10012468226
During the Progressive Era at the beginning of the 20th century, the United States replaced litigation by regulation as … enforcement strategy between litigation and regulation based on the idea that justice can be subverted with sufficient expenditure … environment of significant inequality of wealth and political power. The switch to regulation can then be seen as an efficient …
Persistent link: https://www.econbiz.de/10012470065
accentuating the role of state courts and legislatures in the creation and regulation of nineteenth-century American nonprofit …
Persistent link: https://www.econbiz.de/10012457513
Most listed firms are freestanding in the U.S, while listed firms in other countries often belong to business groups: lasting structures in which listed firms control other listed firms. Hand-collected historical data illuminate how the present ownership structure of the United States arose: (1)...
Persistent link: https://www.econbiz.de/10012458971
not only on its effectiveness as a sanitary measure but also on how the costs of the regulation are distributed …
Persistent link: https://www.econbiz.de/10014544783
We argue that China, with its long history, a relatively stable political system, and multiple regime changes, provides …
Persistent link: https://www.econbiz.de/10012479176
Can efforts to eradicate inequality in wealth and education eliminate intergenerational persistence of socioeconomic status? The Chinese Communist Revolution in the 1950s and Cultural Revolution from 1966 to 1976 aimed to do exactly that. Using newly digitized archival records and contemporary...
Persistent link: https://www.econbiz.de/10012482010