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UID:20250924T080817EDT-3159w4inO2@132.216.98.100
DTSTAMP:20250924T120817Z
DESCRIPTION:'Railroads\, Reallocation\, and the Rise of American Manufactur
 ing'\n\nRichard Hornbeck (Chicago Booth)\n	Host: Nicolas Gendron-Carrier\n
 \nDate: 8 November\, 2019\n	Location: Leacock 429\n\nWebsite: https://facul
 ty.chicagobooth.edu/richard.hornbeck/\n\nAbstract: \n	We examine the impact
 s of market integration on the development of American manu- facturing\, a
 s railroads expanded through the latter half of the 19th century. Using ne
 w county-by-industry data from the Census of Manufacturers\, we estimate s
 ubstantial reduced-form impacts on manufacturing productivity from relativ
 e increases in county market access as the railroad network expanded. In g
 eneral equilibrium\, the railroads increased economic activity in marginal
 ly productive counties. We therefore estimate substantial aggregate econom
 ic gains from the railroads\, much larger than previous estimates\, by all
 owing for the presence of factor misallocation. Our estimates high- light 
 how broadly-used infrastructure or technologies can have much larger econo
 mic impacts when there are inefficiencies in the economy.\n
DTSTART:20191108T203000Z
DTEND:20191108T220000Z
LOCATION:Leacock 429\, Leacock Building\, CA\, QC\, Montreal\, H3A 2T7\, 85
 5 rue Sherbrooke Ouest
SUMMARY:Richard Hornbeck (Chicago Booth)\, 'Railroads\, Reallocation\, and 
 the Rise of American Manufacturing'
URL:/economics/channels/event/richard-hornbeck-chicago
 -booth-railroads-reallocation-and-rise-american-manufacturing-298030
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