The Railroad’s Impact on Land Values in the Upper Great Plains at the Closing of the Frontier

We show that the impact of transportation improvements on land values is complex with a direct, positive relationship on the price of land and also a positive relationship with the ratio of improved acres to total acres, another important influence on the per acre price of land. We construct a two step estimation that removes the impact of transportation outlets on the ratio of improved to total acres before including the transportation variables and the adjusted ratio variable as independent variables in a regression on price per acre. This estimation gives us the expected positive impact of railroads on land price. We also use Box-Cox regressions to show the semi-log form, a common model specification, may be inappropriate for our data and possibly then for other land price research.Box-Cox, Railroads, Great Plains

The Calumet Area Hazardous Substance Data Base : A User's Guide with Documentation

HWRIC Project 88/89-055NTIS PB90-25193

Geography and intra-national home bias : U.S. domestic trade in 1949 and 2007

This paper examines home bias in U.S. domestic trade in 1949 and 2007. We use a unique data set of 1949 carload waybill statistics produced by the Interstate Commerce Commission, and 2007 Commodity Flow Survey data. The results show that home bias was considerably smaller in 1949 than in 2007 and that home bias in 1949 was even negative for several commodities. We argue that the difference between the geographical distribution of the manufacturing activities in 1949 and that of 2007 is an important factor explaining the differences in the magnitudes of home-bias estimates in those years

Technological Revolutions and Stock Prices

We develop a general equilibrium model in which stock prices of innovative firms exhibit "bubbles" during technological revolutions. In the model, the average productivity of a new technology is uncertain and subject to learning. During technological revolutions, the nature of this uncertainty changes from idiosyncratic to systematic. The resulting "bubbles" in stock prices are observable ex post but unpredictable ex ante, and they are most pronounced for technologies characterized by high uncertainty and fast adoption. We find empirical support for the model’s predictions in 1830-1861 and 1992-2005 when the railroad and Internet technologies spread in the United States.

Analysis of the changes in composition of 150 largest corporations in the United States, 1909-1949

Thesis (M.B.A.)--Boston Universit

Abandoned Railroad Corridors in Kentucky: An Inventory and Assessment

This report provides an inventory of Kentucky\u27s abandoned rail lines and a detailed assessment to highlight the lines that may be the most suitable for future trail use. A secondary purpose of the report was to inventory historic railroad structures. Over 125 different abandoned rail lines were identified, mapped using GIS technology, and assessed for their current use and condition. These abandoned rights of way exist in all regions of the state, in urban and rural areas