The Adversity/Hysteresis Effect: Depression Era Productivity Growth in the U.S. Railroad Sector

in The Rate and Direction of Inventive Activity Revisited, eds. Josh Lerner and Scott Stern, Chicago: University of Chicago Press for the NBER, 2012, pp. 579-610.

17 Pages Posted: 3 May 2018

See all articles by Alexander J. Field

Alexander J. Field

Santa Clara University - Leavey School of Business - Economics Department

Date Written: April 15, 2012

Abstract

Is there a silver lining to Depression? This paper examines one instance where economic downturn appears to have given a permanent boost to productivity: the U.S. railroad industry during the Depression.

Keywords: Railroads, Productivity, Great Depression

JEL Classification: D24, E32, N31

Suggested Citation

Field, Alexander J., The Adversity/Hysteresis Effect: Depression Era Productivity Growth in the U.S. Railroad Sector (April 15, 2012). in The Rate and Direction of Inventive Activity Revisited, eds. Josh Lerner and Scott Stern, Chicago: University of Chicago Press for the NBER, 2012, pp. 579-610., Available at SSRN: https://ssrn.com/abstract=3163952

Alexander J. Field (Contact Author)

Santa Clara University - Leavey School of Business - Economics Department ( email )

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