This paper examines the long-run effects of the 1906 San Francisco Earthquake on the spatial distribution of economic activity in the American West. Using variation in the potential damage intensity of the earthquake, we show that more severely affected cities experienced lower population...

The nullification of slave wealth after the U.S. Civil War (1861-65) was one of the largest episodes of wealth compressions in history. We document that white Southern households holding more slave assets in 1860 lost substantially more wealth by 1870, relative to households that had been...

The COVID-19 pandemic has reignited interest in responses to the 1918-19 influenza pandemic, the last comparable U.S. public health emergency. During both pandemics, many state and local governments made the controversial decision to close schools. We study the short- and long-run effects of...

The nullification of slave wealth after the U.S. Civil War (1861-65) was one of the largest episodes of wealth compressions in history. We document that white Southern households holding more slave assets in 1860 lost substantially more wealth by 1870, relative to households that had been...

This paper examines the long-run effects of the 1906 San Francisco Earthquake on the spatial distribution of economic activity in the American West. Using variation in the potential damage intensity of the earthquake, we show that more severely affected cities experienced lower population...

The COVID-19 pandemic has reignited interest in responses to the 1918-19 influenza pandemic, the last comparable U.S. public health emergency. During both pandemics, many state and local governments made the controversial decision to close schools. We study the short- and long-run effects of...