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Precedence and Wealth: Evidence from Nineteenth-Century Utah

In: Strategic Factors in Nineteenth Century American Economic History: A Volume to Honor Robert W. Fogel

  • David W. Galenson
  • Clayne L. Pope

Earlier work has established a strong positive relationship between a household's wealth and its duration in the local economy. This paper explores the possible connection between the magnitude of this wealth/duration relationship and the community's precedence rate--the percentage of households in a given year (1870) present in the same locale in an earlier year (1860). We hypothesize that a low precedence rate will be associated with a high return to the household's duration in the local economy, controlling for the size of the local population. This hypothesis is tested and tentatively confirmed for the counties of Utah in 1870. We also find that a low precedence rate is associated with increased inequality.

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This chapter was published in:
  • Claudia Goldin & Hugh Rockoff, 1992. "Strategic Factors in Nineteenth Century American Economic History: A Volume to Honor Robert W. Fogel," NBER Books, National Bureau of Economic Research, Inc, number gold92-1, Abril.
  • This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 6963.
    Handle: RePEc:nbr:nberch:6963
    Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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