Manufacturing was responsible for almost all - 83 percent - of the growth of total factor productivity in the U.S. private nonfarm economy between 1919 and 1929. During the Depression manufacturing TFP growth was not as uniformly distributed, and only half as rapid, accounting for only 48...

This paper examines the impacts of banking market structure and regulation on economic growth using new data on banking market concentration and manufacturing industry-level growth rates for U.S. states during 1899-1929 — a period when the manufacturing sector was expanding rapidly and...

Many historical comparisons of international productivity use measures of labour productivity (output per worker). Differences in labour productivity can be caused by differences in technical efficiency or differences in capital intensity. Moving to measures of total factor productivity allows...

This paper explores the effect of mortalities from the 1918 influenza pandemic and World War I on wage growth in the manufacturing sectors of U.S. states and cities from 1914 to 1919. The hypothesis is that both events caused a decrease in manufacturing labor supply, thereby initially increasing...

This paper explores the effect of mortalities from the 1918-1919 influenza pandemic and World War I on real wage growth in the manufacturing sectors of U.S. states from 1914 to 1919. The general hypothesis is that both events caused a significant decrease in the supply of manufacturing labor,...

For a century, two labor market empirical regularities characterized the movements of the hours of work, employment, and hourly compensation of American manufacturing production workers. They resembled conditional labor supply functions. Increases in employment substituted for reductions in...

For a century, two labor market empirical regularities characterized the movements of the hours of work, employment, and hourly compensation of American manufacturing production workers. They resembled conditional labor supply functions. Increases in employment substituted for reductions in...