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Full-Text Articles in Economic History

Philadelphia Inventories Of Estate 1746-1775, Billy G. Smith Dec 2018

Philadelphia Inventories Of Estate 1746-1775, Billy G. Smith

The Magazine of Early American Datasets (MEAD)

PHILADELPHIA INVENTORIES of Estate, 1746-1775 (Project 45). Value of Estates.

Source: Inventories of Estate for Philadelphia, Philadelphia City Archives.


Antebellum Labor Markets, Joshua L. Rosenbloom Feb 2018

Antebellum Labor Markets, Joshua L. Rosenbloom

Economics Working Papers

The United States economy was transformed in the period between American independence and the beginning of the Civil War by rapid population growth, the development of manufacturing, the onset of modern economic growth, increasing urbanization, the rapid spread of settlement into the trans-Appalachian west, and the rise of European immigration. These years were also characterized by an increasing sectional conflict between free and slave states that culminated in 1861 in Southern secession from the Union and a bloody and destructive Civil War. Labor markets were central to each of these developments, directing the reallocation of labor between sectors and regions ...


The Colonial American Economy, Joshua L. Rosenbloom Feb 2018

The Colonial American Economy, Joshua L. Rosenbloom

Economics Working Papers

The first permanent British settlement in what became the United States was established in 1607, nearly 170 years prior to the American declaration of independence. This chapter examines the economic development of the British North American colonies that became the United States. As it describes, abundant natural resources and scarce labor and capital contributed to the remarkable growth in the size of the colonial economy, and allowed the free white colonial population to enjoy a relatively high standard of living. There was not, however, much improvement over time in living standards. Patterns of factor abundance also played an important role ...


An Evaluation Of The State Of Iowa Revenue Forecasts, 1995 – 2017, Peter F. Orazem Dec 2017

An Evaluation Of The State Of Iowa Revenue Forecasts, 1995 – 2017, Peter F. Orazem

Economics Working Papers

A critical task in establishing the State of Iowa budget is to project available tax revenue. The 2017 fiscal year was characterized by tax revenues that did not live up to predictions, leading to midyear cuts in planned government expenditures and tapping into reserves. That experience raises the question of whether the Iowa state government revenue forecasts are faulty. Are revenue shortfalls avoidable through improved forecasts or are occasional shortfalls inevitable with even the best statistical predictions? I will show that the Iowa government revenue forecasts pass the standard tests of unbiasedness and rationality, meaning that they are not obviously ...


The Current Farm Downturn Vs The 1920s And 1980s Farm Crises: An Economic And Regulatory Comparison, Wendong Zhang, Kristine A. Tidgren Jan 2017

The Current Farm Downturn Vs The 1920s And 1980s Farm Crises: An Economic And Regulatory Comparison, Wendong Zhang, Kristine A. Tidgren

Economics Publications

Purpose The purpose of this paper is to examine the current farm economic downturn and credit restructuring by comparing it with the 1920s and 1980s farm crises from both economic and regulatory perspectives.

Design/methodology/approach This paper closely compares critical economic and regulatory aspects of the current farm downturn with two previous farm crises in the 1920s and 1980s, and equally importantly, the golden eras that occurred before them. This study compares key aggregate statistics in land value, agricultural credit, lending regulations, and also evaluates the situations and impacts on individual farmer households by using three representative case studies ...


Trends And Determinants Of Us Farmland Values Since 1910: Evidence From The Iowa Land Value Survey, Wendong Zhang, Zachariah Beek Jan 2016

Trends And Determinants Of Us Farmland Values Since 1910: Evidence From The Iowa Land Value Survey, Wendong Zhang, Zachariah Beek

Economics Publications

Valued at 2.31 trillion US dollars in 2016, farm real estate (land and structures) accounted for 85% of total US farm assets; in addition, farm real estate also represents the largest single item in a typical farmer’s investment portfolio. As a result, changes in its values have been a perennial interest to policy-makers, farmers, researchers and investors alike. Focusing on Iowa, a Midwestern state at the heart of the Corn Belt, and using annual data since 1950 from the Iowa Land Value Survey, this article analyses what drives the changes in land values in Iowa and across the ...


Housing Market Bust And Farmland Values: Identifying The Changing Influence Of Proximity To Urban Centers, Wendong Zhang, Cynthia J. Nickerson Nov 2015

Housing Market Bust And Farmland Values: Identifying The Changing Influence Of Proximity To Urban Centers, Wendong Zhang, Cynthia J. Nickerson

Economics Publications

This article estimates the impact of the 2007–2008 residential housing market bust on farmland values, using parcel-level farmland sales data from 2001–2010 for a 50-county region under urbanization pressure in western Ohio. Hedonic model estimates reveal that farmland was not immune to the residential housing bust; the portion of farmland value attributable to proximity to urban areas was almost cut in half shortly after the bust in 2009–2010. Nonetheless, total farmland prices remained relatively stable in the 2000s, likely due to increased demand for agricultural commodities. Our results are robust to different assumptions about the structure of ...


Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos Jun 2009

Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

This paper addresses a specific question: why has China grown so rapidly and Brazil not? To answer this question, it (i) establishes the basis for comparison between China and Brazil by contextualizing these countries within the BRICs concept, and (ii) presents a comparative analysis of Brazilian and Chinese reforms focusing only on the issue of macroeconomic policy, especially the monetary and exchange rate regimes, and its effect on growth.


[Review Of The Book Poverty And Welfare In England, 1700-1850: A Regional Perspective], George R. Boyer Sep 2002

[Review Of The Book Poverty And Welfare In England, 1700-1850: A Regional Perspective], George R. Boyer

Articles and Chapters

[Excerpt] The last decade has seen an upsurge in research by social historians on the English poor laws, largely in the form of local studies. These have greatly increased our knowledge of the demographic makeup of the "pauper host," the generosity of relief benefits, and the ways in which paupers combined poor relief with other forms of income assistance in order to subsist. In this book, Steven King uses "poor law and other documentation" for 60 English communities to extend our understanding of the role played by poor relief from 1700 to 1850. He argues that during this period there ...


Iowa's Ethanol And Corn Milling Industries: Economic And Employment Impacts, Daniel M. Otto, Mark Imerman, Lee Kolmer Dec 1991

Iowa's Ethanol And Corn Milling Industries: Economic And Employment Impacts, Daniel M. Otto, Mark Imerman, Lee Kolmer

Economic Staff Paper Series

This paper studies the ethanol production industry in Iowa and its linkages to the overall corn milling industry in the state. The work was instigated by questions concerning the effects of tax abatements on ethanol blended fuels. While the direct incidence of tax abatement changes is not analyzed, the employment, production, and income effects of incremental changes in corn milling activity that result from changes in ethanol demand are investigated.


Economic Impact Of The Poultry Industry, Daniel M. Otto, Roger G. Ginder May 1991

Economic Impact Of The Poultry Industry, Daniel M. Otto, Roger G. Ginder

Economic Staff Paper Series

The Iowa economy (especially the rural economy) depends heavily on livestock production and income. Not only is farm level income and employment enhanced by livestock production but other rural businesses and their employees benefit as well. Although the poultry sector is not as large as some other livestock sectors it is growing in importance. This paper reports the results of effort to measure the economic effects of the poultry industry in terms of sales, profits'or wages and the number of jobs resulting from poultry production and poultry processing.


The Old Poor Law And The Agricultural Labor Market In Southern England: An Empirical Analysis, George R. Boyer Mar 1986

The Old Poor Law And The Agricultural Labor Market In Southern England: An Empirical Analysis, George R. Boyer

Articles and Chapters

The paper examines the economic role played by poor relief in early nineteenth-century England. A three-equation model is estimated to explain cross-parish variations in per capita relief expenditures, agricultural laborers' annual wage income, and unemployment rates. Relief expenditures are found to be related to crop mix, the political power of labor-hiring farmers, distance from London, and employment opportunities in cottage industry. The results strongly support the revisionist analysis of the Old Poor Law, and reject the analysis contained in the Report of the Royal Poor Law Commission.


[Review Of The Book The Idea Of Poverty: England In The Early Industrial Age], George R. Boyer Jul 1985

[Review Of The Book The Idea Of Poverty: England In The Early Industrial Age], George R. Boyer

Articles and Chapters

[Excerpt] One must have some knowledge of a society's conception of poverty in order to understand the existence of differing methods of poor relief over time and place. In The Idea of Poverty, Gertrude Himmelfarb presents a detailed account of England's poverty problem during the years 1750 to 1850 as seen by contemporary English economists, politicians, journalists, and novelists. She attempts to determine why the image of poverty, and of the poor, changed over those years and how the popular image of the poor influenced society's methods of relieving poverty. The result is a book that anyone ...


The Economic Role Of The English Poor Law, 1780-1834, George R. Boyer Jun 1985

The Economic Role Of The English Poor Law, 1780-1834, George R. Boyer

Articles and Chapters

[Excerpt] Over the 85-year period from 1748/50 to 1832/34, real per capita expenditures on poor relief increased at an average rate of approximately 1 percent per year. There were also important changes in the administration of relief with respect to able-bodied laborers during the period. Policies providing relief outside of workhouses to unemployed and under-employed able-bodied laborers became widespread during the 1770s and 1780s in the grain-producing South and East of England. The so-called Speenhamland system of outdoor relief flourished until 1834, when it was abolished by the Poor Law Amendment Act. The aim of the thesis is ...


Unanticipated Money Supply Growth And Single-Family Housing Starts In The U.S.: 1964-1977, Barry Falk Aug 1984

Unanticipated Money Supply Growth And Single-Family Housing Starts In The U.S.: 1964-1977, Barry Falk

Economic Staff Paper Series

The role of the Federal Reserve's monetary policy in the propagation of cycles in residential construction has long been a subject of interest to economists. This paper considers the hypothesis that it is only the uniahticipated component of money supply growth that affects built-for-sale, single-family housing starts in the United States'. Using quarterly data for the 1964-1977 period, tests similar to those performed by Barro [1977] and others on broader macroeconomic variables are shown to support this hypothesis.


Efficient Market Responses To Error- Ridden Money Supply Announcements, Peter Orazem, Barry Falk Jul 1984

Efficient Market Responses To Error- Ridden Money Supply Announcements, Peter Orazem, Barry Falk

Economic Staff Paper Series

This study introduces a model of optimal market response to announced estimates of changes in economic aggregates when the estimates are known to be subject to error. We show that under fairly general conditions, rational economic agents will not take the announcements at face value, but will attempt to extract their own perception of the true change conditional on the announcement. Ignoring this signal extraction process can lead to incorrect conclusions regarding the behavioral response of asset prices to money supply shocks. The model is shown to be consistent with the data on the response of interest rates to money ...


Saving For Justice, Roy Gardner Jan 1979

Saving For Justice, Roy Gardner

Economic Staff Paper Series

One of the central issues of welfare macroeconomics is, How much ought I a nation to save? The classic answer of Ramsey [11], that savings is optimal if it maximizes the integral of utility over time subject to the national income constraint, has guided research in the area for half a century. Recently this dominion of utilitarianism has come under scrutiny. Mirrlees, for instance, has shown how Ramsey's rule breaks down in the presence of technical change and population growth. Moreover, if the scope of the question is not merely efficiency but also justice, the whole framework of utility ...


Income Distribution And Export Promotion In Puerto Rico, Richard Weisskoff Apr 1975

Income Distribution And Export Promotion In Puerto Rico, Richard Weisskoff

Economic Staff Paper Series

Two broad sets of questions have propelled this study. The first is historical or rather, counter-historical, and is directed toward investigating the sources of the rapid changes in employment and income distribution in Puerto Rico during a decade of extra ordinary growth from 1953 to 1963. A second set of questions is more forward-looking and projective. We seek to evaluate the impact on the island economy both of continuing its so-called successful growth strategy and of departing from this historical path.


Higher Education And Income Distribution In A Less Developed Country, Gary S. Fields Jan 1975

Higher Education And Income Distribution In A Less Developed Country, Gary S. Fields

Articles and Chapters

[Excerpt] The primary purpose of this paper is to empirically test among both the intra- and the inter-generational version of these three hypotheses for higher (i.e. post-secondary) levels of education for one less developed country, Kenya. A secondary purpose is to investigate other economic aspects of spending on higher education, most notably the question of horizontal equity in school finance. Before proceeding, a methodological point is in order. There is no consensus in the public economics literature on what is a suitable criterion for assessing the equitability of a fiscal programme. At least three criteria may be distinguished (the ...