We Investigate the Impact of Passenger Shipping Cartels on Trans-Atl. Migration during the Early Twentieth Century. We Assemble from Prim. Sources A Detailed Database of Passenger Flows and Cartel Operations and Show That Cartel Oper. Reduced Migratory Flows by Approx. 20% to 25%. Further, we Show That There Was no Strong Intertemporal Substitution, in Migration to N. Amer. (At Least in the Short Run) And, Therefore, That the Effects of Cartel Oper. Were Not Undone by Later Migration. Lastly, we Find That Cartel Oper. Had no Appreciable Effect on the Variability of Migration Flows, Providing Evidence Against the Notion That Unfettered Competition Was Destabilizing to Turn-of-the-century Transp. Markets. 2008 by the Pres. and Fellows of Harvard Coll. and the Massachusetts Inst. of Technol.
ASJC Scopus subject areas
- Social Sciences (miscellaneous)
- Economics and Econometrics