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The American Invasion of Europe: The Long Term Rise in Overseas Travel, 1820-2000
Weiss, Thomas; Dupont, Brandon; Gandhi, Alka - National Bureau of Economic Research (NBER) - 2008
Tourism today is an activity of substantial economic importance worldwide, and has been for some time. Tourism is also …'s establishing special accounts on travel and tourism. In this paper we investigate the long term rise in overseas travel by … as mass tourism. We document this rise by compiling a long term series on overseas travel, and describe the changes in …
Persistent link: https://www.econbiz.de/10005828633
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Engineering Knowledge
Rosenberg, Nathan; Steinmueller, W. Edward Steinmuller - Stanford Institute for Economic Policy Research … - 2012
In historical perspective, both the nature of and arrangements for the generation of engineering knowledge have evolved over the past 150 years. We examine the historical development of the search for ‘useful knowledge’ in agriculture, aeronautics and chemical engineering during the first...
Persistent link: https://www.econbiz.de/10010878081
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Investment Banks as Corporate Monitors in the Early 20th Century United States
Hilt, Eric; Frydman, Carola - National Bureau of Economic Research (NBER) - 2014
We use the Clayton Antitrust Act of 1914 to study the effect of bankers on corporate boards in facilitating access to external finance. In the early twentieth century, securities underwriters commonly held directorships with American corporations; this was especially true for railroads, which...
Persistent link: https://www.econbiz.de/10010951292
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Size and sophistication: the two faces of demand.
Guerzoni, Marco - KITeS, Centre for Knowledge, Internationalization and … - 2007
Innovation is widely acknowledged as one of the main forces driving economic growth. However, despite our significant knowledge of the technological determinants of innovation processes, an adequate understanding of demand side factors is still lacking. This paper aims to survey the literature...
Persistent link: https://www.econbiz.de/10005087136
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Frictionless Technology Diffusion: The Case of Tractors
Manuelli, Rodolfo E.; Seshadri, Ananth - In: American Economic Review 104 (2014) 4, pp. 1368-91
Many new technologies display long adoption lags, and this is often interpreted as evidence of frictions inconsistent with the standard neoclassical model. We study the diffusion of the tractor in American agriculture between 1910 and 1960-a well-known case of slow diffusion-and show that the...
Persistent link: https://www.econbiz.de/10010815558
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Trade Restrictiveness and Deadweight Losses from U.S. Tariffs, 1859-1961
Irwin, Douglas A. - National Bureau of Economic Research (NBER) - 2007
This paper calculates the Anderson-Neary (2005) trade restrictiveness index (TRI) for the United States using nearly a century of data. The results show that the standard import-weighted average tariff understates the TRI, defined as the uniform tariff that yields the same welfare loss as the...
Persistent link: https://www.econbiz.de/10005777830
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Trade Restrictiveness and Deadweight Losses from US Tariffs
Irwin, Douglas A. - In: American Economic Journal: Economic Policy 2 (2010) 3, pp. 111-33
This paper calculates a trade restrictiveness index, i.e., the uniform tariff that yields the same welfare loss as an existing tariff structure, for nearly a century of US data. The results show that the average tariff understates the TRI by about 75 percent. The static deadweight loss from US...
Persistent link: https://www.econbiz.de/10008534475
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Technological Revolutions and Stock Prices
Pástor, Luboš; Veronesi, Pietro - In: American Economic Review 99 (2009) 4, pp. 1451-83
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/10008574570
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Trade Disputes Between China and the United States: Growing Pains so Far, Worse Ahead?
Hufbauer, Gary Clyde; Woollacott, Jared C. - Peter G. Peterson Institute for International Economics … - 2010
This study covers the history of Sino-US trade relations with a particular focus on the past decade, during which time each has been a member of the World Trade Organization (WTO). Providing a brief history of 19th and 20th century economic relations, this paper examines in detail the trade...
Persistent link: https://www.econbiz.de/10008764772
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Network Neutrality: Lessons from Transportation
Levinson, David - Networks, Economics and Urban Systems Research Group … - 2007
transportation as one of the key tools in motivating arguments. This paper examines how the various notions around network neutrality … (common carriage, regulation, price discrimination) have played out in the transportation sector, and suggests many of the …
Persistent link: https://www.econbiz.de/10005025582