This paper examines whether increased market access driven by railroad network expansions had long-run effects on those living in affected areas during their early life. I make use of linked complete count U.S. Censuses to follow individuals who were children in 1900 and trace through short-run...

We study a repeated Cournot competition model where prices are determined not only by firms' quantities but also unobservable market shocks (Green and Porter, 1984). Unlike Green and Porter (1984), market shocks are persistent and today's market condition affects tomorrow's market condition....