Sophisticated empirical work consists of taking a single data set and using the best econometric techniques to arrive at estimates of the interesting parameters.
In contrast, when I have an empirical question, I look at a variety of data sources.
Even the process of building the railroad helped stimulate specific industries like the copper, steel and iron industri...
The quote is from the paper, which is gated, and the link is to the abstract, which is not. ] I easily found ungated versions of replies by Chris Sims and by Ed Leamer. I place myself on one side of it (the minority, naturally). The question, broadly speaking, is whether sophisticated empirical work in economics is persuasive.
¡§The Railroad has a justly deserved place as the pivotal integrator of the national space-economy between 18 and as a major component of the late 19th-century economic growth. R Meyer, p.323) The railroad fostered a more diverse and competitive America by introducing new markets into each region and allowing the acquisition of different or simply cheaper goods from other regions.