Wages in California during the Gold Rush
In: Wages and Labor Markets in the United States, 1820-1860
The California Gold Rush was an unexpected shock of tremendous size that prompted the costly re-allocation of labor to a frontier region. Using newly-collected archival data, this paper presents estimates of nominal and real wages in Gold Rush California. Consistent with a simple dynamic model of labor market adjustment, real wages rose sharply during the early years of the Rush (1848-1852), declined abruptly following massive in-migration 1850s. However, although the Rush itself was a transitory event, it left California wages permanently higher. Estimates based on census data suggest that the supply of labor into Gold Rush California was about half as elastic as the supply of labor into Alaska during the Pipeline Era.
(This abstract was borrowed from another version of this item.)
|This chapter was published in: ||This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number
11514.||Handle:|| RePEc:nbr:nberch:11514||Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:nbr:nberch:11514. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.