作者
Richard Hornbeck, Martin Rotemberg
发表日期
2024
期刊
Journal of Political Economy, Forthcoming
出版商
https://voices.uchicago.edu/richardhornbeck/files/2024/02/Railroads_HR_Feb2024-59d1fb5846b8aeff.pdf
简介
We examine aggregate economic gains in the United States as the railroad network expanded in the 19th century. Using data from the Census of Manufactures, we estimate relative increases in county aggregate productivity from relative increases in county market access. In general equilibrium, we find that the railroads substantially increased national aggregate productivity. By accounting for input distortions, we estimate much larger aggregate economic gains from the railroads than previous estimates. Our estimates highlight how broadly-used infrastructure or technologies can have much larger economic impacts when there are inefficiencies in the economy.
引用总数
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