We focus on four previous systemic financial crises that the United States has experienced since 1870. These include the crisis of 1873 (called the Great Depression until the 1930s), the 1893 crisis, the panic of 1907, and the Great Depression. Given that all of the earlier crises predate the...

This paper discusses recent developments in the literature on local and regional innovative performance to show how an ‘integrated’ conceptual framework based on the cross-fertilization of different theories can serve as a foundation for the comparative analysis of territorial innovation...

University-Business Cooperation (UBC) is a relationship in flux, reflecting issues specific to the transition from an industrial to a knowledge society. UBC is undergoing a transformation from a dyadic university-business relationship, aimed at solving firm problems, sourcing new products or...

Until the late nineteenth century, the British alkali industry enjoyed a colossal export market in the United States. Yet, as several scholars have already noted, the highly protectionist Dingley Tariff of 1897 caused a precipitous and irreversible decline in the volume of British alkali exports...

Efforts to document long-term trends in socioeconomic mobility in the United States have been hindered by the lack of large, representative datasets that include information linking parents to their adult children. This problem has been especially acute for women, who are more difficult to link...

What does it take to live a meaningful life? We exploit a unique corpus of over 1,400 life narratives of older Americans collected by a team of writers during the 1930s. We combine detailed human readings with large language models (LLMs) to extract systematic information on critical junctures,...

We analyze the impact of World War II service on income and mobility among male Army and Army Airforce veterans from various racial and ethnic groups, using linked 1940 Census, WWII enlistment, and 1969 administrative tax return data. The dataset includes non-Hispanic White, Black, Hispanic,...

In the presence of segregation and discrimination during the late 19th and early 20th century, many African American men changed their racial identity and "passed" for white. Previous studies have suggested that this activity was associated with increases in income and socioeconomic status...

In standard New Keynesian models, future interest rate cuts have larger effects than current cuts--this is called the forward guidance puzzle. We argue that the forward guidance puzzle is not a puzzle. We show the puzzle arises from an implausibly large monetary regime change, exceeding anything...

We propose a new measure of cultural distance based on differences in the composition of first names and church denominations between locations. We use a gravity equation to estimate the elasticity of migration flows with respect to the two components of cultural distance as well as a standard...