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Most listed firms are freestanding in the U.S, while listed firms in other countries often belong to business groups: lasting structures in which listed firms control other listed firms. Hand-collected historical data illuminate how the present ownership structure of the United States arose: (1)...
Persistent link: https://www.econbiz.de/10013071909
Sears Roebuck and Co. faced similar challenges in the 1920s and the 1980s. On the strength of the early period's strategic investment decisions, the company grew into the nation's largest retailer and a pervasive factor in the economy. In the later period, unanswered challenges nearly destroyed...
Persistent link: https://www.econbiz.de/10013233481
recounts the history of the journal. The recounting has an analytic core that sees the American Economic Association as an … organization supplying goods and services to its members, one of which is the AER. Early in its history the AER was a multi …
Persistent link: https://www.econbiz.de/10013139146
Soon after beginning operations, the Federal Reserve established a nationwide network for collecting information about the economy. In 1919, the Fed began tabulating data by about retail sales, which it viewed as a fundamental measure of consumption. From 1920 until 1929, the Federal Reserve...
Persistent link: https://www.econbiz.de/10013135054
In this paper we trace the evolution of the lender of last resort doctrine—and its implementation—from the nineteenth century through the panic of 2008. We find that typically the most influential economists “fight the last war”: formulating policy guidelines that would have dealt...
Persistent link: https://www.econbiz.de/10013030619
The intellectual response to the Great Depression is often portrayed as a battle between the ideas of Friedrich Hayek and John Maynard Keynes. Yet both the Austrian and the Keynesian interpretations of the Depression were incomplete. Austrians could explain how a country might get into a...
Persistent link: https://www.econbiz.de/10013118250
What can macroeconomic history offer macroeconomic theorists and macroeconometricians? Macroeconomic history offers … `path dependence': ways in which the cumulative past, including the history of shocks and their effects, change the … structure of the economy. This essay reviews American macroeconomic history to illustrate its potential uses and draw out …
Persistent link: https://www.econbiz.de/10013310134
The paper looks at the development of the secular stagnation thesis, in the context of the economic history of the time …
Persistent link: https://www.econbiz.de/10013010280
We sketch a new synthesis of American business history to replace (and subsume) that put forward by Alfred D. Chandler …, Jr., most famously in his book The Visible Hand (1977). We see the broader subject as the history of the institutions of … but characteristic of the field, to see history of adoption in teleological rather than evolutionary perspective. We see a …
Persistent link: https://www.econbiz.de/10013243923
Dun's Review began publishing monthly data on bankruptcies by branch of business during the 1890s. This essay reconstructs that series, links it to its successors, and discusses how it can be used for economic analysis
Persistent link: https://www.econbiz.de/10013128597