The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing:
The Civil War resulted in a substantial divergence in the regional structure of factor prices. In particular, wages fell in the South relative to the non-South, but interest rates and other measures of the costs of capital increased. Using archival data for manufacturing establishments, we show that...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2004
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
10886 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | The Civil War resulted in a substantial divergence in the regional structure of factor prices. In particular, wages fell in the South relative to the non-South, but interest rates and other measures of the costs of capital increased. Using archival data for manufacturing establishments, we show that capital-output and capital-labor ratios in southern manufacturing declined relative to non-southern manufacturing after the War, precisely in the direction implied by the regional shifts in factor prices. Labor productivity in Southern manufacturing also declined, but this decline is explained by the reduction in capital intensity. |
| Physical Description: | 29 S. |
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| 520 | 3 | |a The Civil War resulted in a substantial divergence in the regional structure of factor prices. In particular, wages fell in the South relative to the non-South, but interest rates and other measures of the costs of capital increased. Using archival data for manufacturing establishments, we show that capital-output and capital-labor ratios in southern manufacturing declined relative to non-southern manufacturing after the War, precisely in the direction implied by the regional shifts in factor prices. Labor productivity in Southern manufacturing also declined, but this decline is explained by the reduction in capital intensity. | |
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| index_date | 2024-07-02T22:41:28Z |
| indexdate | 2024-07-09T21:25:10Z |
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| language | English |
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| spelling | Hutchinson, William Kenneth 1945- Verfasser (DE-588)129721859 aut The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing William Hutchinson ; Robert A. Margo Cambridge, Mass. National Bureau of Economic Research 2004 29 S. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 10886 The Civil War resulted in a substantial divergence in the regional structure of factor prices. In particular, wages fell in the South relative to the non-South, but interest rates and other measures of the costs of capital increased. Using archival data for manufacturing establishments, we show that capital-output and capital-labor ratios in southern manufacturing declined relative to non-southern manufacturing after the War, precisely in the direction implied by the regional shifts in factor prices. Labor productivity in Southern manufacturing also declined, but this decline is explained by the reduction in capital intensity. Capital intensity - Southern States Labor productivity - Southern States Manufacturing industries - Southern States Southern States - Economic conditions - 19th century United States - History - Economic aspects - Civil War, 1861-1865 Bürgerkrieg / Kapitalintensität / Arbeitsproduktivität / Verarbeitendes Gewerbe / USA (Südstaaten) USA Margo, Robert A. 1954- Verfasser (DE-588)124082378 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 10886 (DE-604)BV002801238 10886 http://papers.nber.org/papers/w10886.pdf kostenfrei Volltext |
| spellingShingle | Hutchinson, William Kenneth 1945- Margo, Robert A. 1954- The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Capital intensity - Southern States Labor productivity - Southern States Manufacturing industries - Southern States Southern States - Economic conditions - 19th century United States - History - Economic aspects - Civil War, 1861-1865 Bürgerkrieg / Kapitalintensität / Arbeitsproduktivität / Verarbeitendes Gewerbe / USA (Südstaaten) |
| title | The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing |
| title_auth | The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing |
| title_exact_search | The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing |
| title_exact_search_txtP | The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing |
| title_full | The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing William Hutchinson ; Robert A. Margo |
| title_fullStr | The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing William Hutchinson ; Robert A. Margo |
| title_full_unstemmed | The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing William Hutchinson ; Robert A. Margo |
| title_short | The impact of the Civil War on capital intensity and labor productivity in Southern manufacturing |
| title_sort | the impact of the civil war on capital intensity and labor productivity in southern manufacturing |
| topic | Capital intensity - Southern States Labor productivity - Southern States Manufacturing industries - Southern States Southern States - Economic conditions - 19th century United States - History - Economic aspects - Civil War, 1861-1865 Bürgerkrieg / Kapitalintensität / Arbeitsproduktivität / Verarbeitendes Gewerbe / USA (Südstaaten) |
| topic_facet | Capital intensity - Southern States Labor productivity - Southern States Manufacturing industries - Southern States Southern States - Economic conditions - 19th century United States - History - Economic aspects - Civil War, 1861-1865 Bürgerkrieg / Kapitalintensität / Arbeitsproduktivität / Verarbeitendes Gewerbe / USA (Südstaaten) USA |
| url | http://papers.nber.org/papers/w10886.pdf |
| volume_link | (DE-604)BV002801238 |
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