Factor Price Convergence in the Late Nineteenth Century

We examine a dramatic historical episode of factor price convergence in the late nineteenth century. Our focus is convergence between Old World and New, and the analysis centers on land and labor. Wage-rental ratios boomed in the Old World and collapsed in the New, moving the resource-rich, labor-sc...

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Veröffentlicht in:	International economic review (Philadelphia) 1996-08, Vol.37 (3), p.499-530
Hauptverfasser:	O'Rourke, Kevin H., Taylor, Alan M., Williamson, Jeffrey G.
Format:	Artikel
Sprache:	eng
Schlagworte:	19th century Agricultural land Commodities Commodity prices Convergence Econometrics Economic history Economic models Economic rent Economic theory Economic value Economics Endowments Factor prices Farm commodities Free trade Global economy Gross domestic product History Integration International markets International trade Land economics Population growth Prices Ratios Simulation Studies Tariffs Trends Wages & salaries World War II
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