This article provides empirical evidence from the ‘first wave of globalization’ in the 19th century for the question as to how commodity markets integrated domestically and internationally. I apply a dynamic factor model borrowed from business cycle analysis that for the first time allows me...

Diese Dissertation befasst sich mit europäischer und US-amerikanischer Konjunkturgeschichte und Marktintegration im 19. und 20. Jahrhundert. Zur Analyse von konjunkturellen Schwankungen stellt sie der weitverbreiteten Historischen Volkswirtschaftlichen Gesamtrechnung (VGR) die Methode...

In recent years, there has been an increasing focus by policymakers on rural infrastructure in the United States, including most recently tax credits to encourage investment. Previous work has documented the importance of railroad expansion for nineteenth century development, and demonstrated...