{"title":"脱离轨道的增长: 扭曲经济中的总体生产力增长","authors":"R. Hornbeck, M. Rotemberg","doi":"10.1086/730548","DOIUrl":null,"url":null,"abstract":"We examine impacts on aggregate productivity growth 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.","PeriodicalId":16875,"journal":{"name":"Journal of Political Economy","volume":null,"pages":null},"PeriodicalIF":6.9000,"publicationDate":"2024-03-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"5","resultStr":"{\"title\":\"Growth Off the Rails: Aggregate Productivity Growth in Distorted Economies\",\"authors\":\"R. Hornbeck, M. Rotemberg\",\"doi\":\"10.1086/730548\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"We examine impacts on aggregate productivity growth 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.\",\"PeriodicalId\":16875,\"journal\":{\"name\":\"Journal of Political Economy\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":6.9000,\"publicationDate\":\"2024-03-25\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"5\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Political Economy\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1086/730548\",\"RegionNum\":1,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Political Economy","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1086/730548","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
Growth Off the Rails: Aggregate Productivity Growth in Distorted Economies
We examine impacts on aggregate productivity growth 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.
期刊介绍:
Established in 1892, the Journal of Political Economy (JPE) stands as one of the oldest and most esteemed journals in economics. It showcases significant research and scholarship in economic theory and practice, with a focus on publishing highly selective, widely cited articles of current relevance. JPE's analytical, interpretive, and empirical studies cover diverse areas such as monetary theory, fiscal policy, labor economics, development, micro- and macroeconomic theory, international trade and finance, industrial organization, and social economics. Essential reading for economists seeking to stay abreast of groundbreaking research in the field.