The Hicks induced innovation hypothesis states that a price increase of production factor is spur to invention. We propose an alternative restating invention requires not only one but also decrease at least other offset the companies’ cost. illustrate need for our in historical example industrial revolution United Kingdom. Furthermore, we econometrically evaluate both hypotheses case study rese...

The United States has become increasingly characterized by stark class divides in family structure. Poor women are less likely to marry than their more affluent counterparts, but far more likely to have a birth outside of marriage. Recent theoretical and qualitative work at the intersection of demography and cultural sociology suggests that these patterns are generated because poor women have h...

Several studies of the post-war American political economy find that Democratic presidents have been more successful than Republicans. Most recently, Bartels (2008) found that economic growth had been greater and that unemployment and income inequality had been lower under Democratic presidents since 1948. If true, these findings combined with the frequent success of Republicans in presidential...

This paper proposes a new approach for analyzing the relationship between macroeconomic factors and the income distribution. The conventional method of analysis is regression of summary inequality indices on variables such as the unemployment and inflation rates. Building on the lessons from recent advances in time-series econometrics, we suggest instead that one should first fit a parametric f...

Using a recursive empirical model of the real interest rate, GDP growth and the primary government deficit in the United States, I solve for the ergodic distribution of the debt/GDP ratio. If such a distribution exists, the government is satisfying its intertemporal budget constraint. One key finding is that historical fiscal policy would bring the current high-debt ratio back to its normal lev...

This paper analyzes the effect of economic conditions early in life on the individual mortality rate later in life, using business cycle conditions early in life as an exogenous indicator. We have individual data records from Dutch registers of birth, marriage, and death certificates, covering an observation window of unprecedented size (1812-2000). These are merged with historical data on macr...

on the verge of the first world war, the english connected the national railroad network of india by india's baluchistan to dozdab in iran's baluchistan in order to keep the connection line between iran and india. after this and when the transport of goods to india accelerated, a number of indian siks immigrated to dozdab, whose name later changed to zahedan. but the residence of siks...

Using data covering over 100 birth-cohorts in 32 countries, we examine the shortand long-term effects of economic conditions on mortality. We find that small, but not large, booms increase contemporary mortality. Yet booms from birth to age 25, particularly those during adolescence, lower adult mortality. A simple model can rationalize these findings if economic conditions differentially affect...