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Politics, Relief, and Reform: The Transformation of America's Social Welfare System during the New Deal
Politics Relief Reform
2015/9/22
Prior to the New Deal almost all public social welfare spending, or what contemporaries
called “relief,” was provided by local governments. The administration of local public relief had
long been as...
Published macroeconomic data traditionally exclude most intangible investment from measured GDP.
This situation is beginning to change, but our estimates suggest that as much as $800 billion is still...
This paper was funded by the Labor Project for Working Families through a grant
from the David and Lucile Packard Foundation. Michael Reich, Ph.D., Professor
of Economics at University of California...
Testimony before the Joint Economic Committee: “Income Inequality in the United States”
Economic Committee the United States
2015/9/21
Chairman Brady, Vice Chair Klobuchar, and other distinguished members of the Joint Economic
Committee, thank you for inviting me to participate in today’s hearing, “Income Inequality in the
United S...
Trends in U.S. Wage Inequality: Re-Assessing the Revisionists
U.S. Wage Inequality Re-Assessing the Revisionists
2015/9/21
We are particularly grateful to Daron Acemoglu, Josh Angrist, Paul Devereux, Francis Kramarz, Thomas
Lemieux, Derek Neal and participants at the NBER Summer Institute, the Society of Labor Economists...
Measuring Capital and Technology An Expanded Framework
Expanded Framework Measuring Capital and Technolog
2015/9/21
The last two hundred years have witnessed dramatic gains in the standard
of living in the United States, driven by the technological innovations introduced by the Industrial Revolution and carried fo...
Paper prepared for the Handbook of the Economics of Innovation, Bronwyn H. Hall and Nathan Rosenberg
(eds.), Elsevier-North Holland, in process. I would like to thank the many people that commented
...
Colonial Americans were very poor by today’s standard of poverty. On
the eve of the American Revolution, GDP per capita in the United States
stood at approximately $765 (in 1992 dollars).1 Incomes r...
Why Development Levels Differ: The Sources of Differential Economic Growth in a Panel of High and Low Income Countries
Differential Economic Growth Levels Differ
2015/9/21
Average income per capita in the countries of the OECD was more than 20 times
larger in 2000 than that of the poorest developing countries. Two general explanations have been
offered to account fo...
DOES INFRASTRUCTURE INVESTMENT INCREASE TH PRODUCTIVITY OF MANUFACTURING INDUSTRY IN THE U.S.?
INVESTMENT INCREASE INFRASTRUCTURE
2015/9/21
The American South started the post World War II era as the poorest region
of the country. Per capita disposable income was less than 70 percent of the
national level and the South produced less tha...
U.S. expenditures in research and development rose to $456.1 billion in 2013--a $20.7 billion increase over the previous year, according to a new report from the National Science Foundation'...
Business dynamism plays an important role in job creation and productivity
growth in the United States. Business start-ups are an important contributor to
that dynamism. Start-ups contribute disprop...
It is well known that new businesses are typically much smaller than their established industry competitors,
and that this size gap closes slowly. We show that even in commodity-like product markets,...
Cross-Country Differences in Productivity: The Role of Allocation and Selection
Allocation Selection
2015/9/18
This paper investigates the effect of idiosyncratic ( firm-level) policy
distortions on aggregate outcomes. Exploiting harmonized firm-level
data for a number of countries, we show that there is sub...
The view that small businesses create the most jobs remains
appealing to policymakers and small business advocates. Using data from
the Census Bureau’s Business Dynamics Statistics and Longitudinal ...