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Questioning 'Law and Finance' : US Stock Market Development, 1930-70

Cheffins, Brian R. - 2012

An important tenet of a burgeoning 'law and finance' literature is that stock market development is contingent upon corporate law offering ample protection to shareholders. This paper addresses this claim, using as its departure point developments occurring in the United States between 1930 and...

Persistent link: https://www.econbiz.de/10013105507

From Constitutional to Fiat Money : The U.S. Experience

Timberlake, Richard - 2013

Persistent link: https://www.econbiz.de/10013084185

Historical Changes in the Demographics of Inventors in the United States

Andrews, Michael (contributor); … - 2017

Who invents? This is a central question to understanding possible barriers to entry in the innovation process. To address it, we match the Annual Report of the Commissioner of Patents from 1870 to 1940 to the corresponding U.S. Federal Population Censuses. This matching procedure provides a rich...

Persistent link: https://www.econbiz.de/10012964355

Political Parties in Power and U.S. Economic Performance

Chittenden, William T. - 2020

This study examines the interaction across all combinations of the political parties in control of the White House and both chambers of Congress. Past economic growth is not significantly different under Republican and Democratic presidential administrations. Nor does the party that controls the...

Persistent link: https://www.econbiz.de/10012840934

American Exceptionalism and the Benefits of Statehood : An Analysis of the Growth Effects of Joining the United States of America

Maseland, Robbert - 2020

Texas, California, Arizona, New Mexico, Colorado, Utah, Wyoming and Nevada had they not joined the USA. We show that the … growth paths of Puerto Rico, Cuba, the Philippines and Greenland in the scenario where they joined the USA at times in … institutional quality of the USA as a whole matches the quality predicted for New England most closely. This suggests that upon …

Persistent link: https://www.econbiz.de/10012842927

Government Ideology and Economic Policy-Making in the United States

Potrafke, Niklas - 2017

This paper describes the role of government ideology on economic policy-making in the United States. I consider studies using data for the national, state and local level and elaborate on checks and balances, especially divided government, measurement of government ideology and empirical...

Persistent link: https://www.econbiz.de/10012955414

Monetary Regimes, Money Supply, and the US Business Cycle since 1959

Hollander, Hylton - 2019

The monetary authority's choice of operating procedure has significant implications for the role of monetary aggregates and interest rate policy on the business cycle. Using a dynamic general equilibrium model, we show that the type of endogenous monetary regime, together with the interaction...

Persistent link: https://www.econbiz.de/10012895445

The Equipment Hypothesis and U.S. Economic Growth

Field, Alexander J. - 2009

In several articles published in the 1990s, de Long and Summers argued that investment in producer durables had a high propensity to generate externalities in using industries, resulting in a systematic and substantial divergence between its social and private return. They maintained, moreover,...

Persistent link: https://www.econbiz.de/10012766620

Did the 1918–19 Influenza Pandemic Kill the US Life Insurance Industry?

Cortes, Gustavo - 2020

We document two puzzling facts during the 1918–19 influenza outbreak. First, we find no significant differences among US life insurers' profitability before or after 1918. Second, there are fewer insurers in distress after the outbreak. We argue that an increase in insurance demand offset...

Persistent link: https://www.econbiz.de/10012822609

Evolving Credit and the U.S. Macroeconomy : 1920-2011

Amir-Ahmadi, Pooyan - 2015

This paper studies evolving macroeconomic consequences of adverse credit spread shocks for the US economy over the past century. The key objective is to characterize and quantify how the credit transmission mechanism has changed in shaping the macroeconomy during major macroeconomic episodes. I...

Persistent link: https://www.econbiz.de/10013022619