"The weekly wage gap between black and white female workers narrowed by 15 percentage points during the 1940s. We employ a semi-parametric technique to decompose changes in the distribution of wages. We find that changes in worker characteristics (such as education, occupation and industry, and...

The rise of America from a colonial outpost to one of the world’s most sophisticated and productive economies was facilitated by the establishment of a variety of economic enterprises pursued within the framework of laws and institutions that set the rules for their organization and operation....