Railroads, Reallocation, and the Rise of American Manufacturing

For helpful comments and suggestions, we thank many colleagues and seminar participants at: Brown, Census, Chicago Booth, Chicago Federal Reserve, Clemson, Columbia, Columbia-NYU, Duke, Florida State, Harvard, Hunter, Iowa State, Indiana, LSE, NBER, New Economic School, Northwestern, NYU, OECD, Oxford, PERC, Princeton, Queens, SED, Sciences Po, Toronto, UCLA, Wharton, Williams, and Zurich. Andrea Cerrato, William Cockriel, and Julius Luettge provided extensive research assistance. This research was funded in part by the Initiative on Global Markets at the University of Chicago Booth School of Business, the Neubauer Family Faculty Fellowship, NBER Innovation Policy grant program, and PERC. This material is based upon work supported by the National Science Foundation under Grant Number SES-1757050/1757051. Any opinions, findings, and conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of the National Science Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.