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Closing Time: The Local Equilibrium Effects of Prohibition

  • How do different local policies in a federal system affect local land values, production, and sorting? We study the question exploiting a large historical policy change: U.S. Alcohol Prohibition in the early twentieth century. Comparing same- state early and late adopters of county dry laws in a difference-in-differences design, we find that early Prohibition adoption increased population and farm real estate values. Moreover, we find strong effects on farm productivity consistent with increased investment due to a land price channel. In equilibrium, the policy change disproportionately attracted immigrants and African-Americans.

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Metadaten
Document Type:Article
Language:English
Author(s):Greg Howard, Arianna Ornaghi
Parent Title (English):Journal of Economic History
Publication year:2021
Publishing Institution:Hertie School
First Page:792
Last Page:830
DOI:https://doi.org/10.1017/S0022050721000346
Release Date:2021/09/10
Volume:81
Issue:3
Notes:
"This is a post-peer-review, pre-copyedit version of an article published in Journal of Economic History. The final authenticated version is available online at: https://doi.org/10.1017/S0022050721000346
AY 21/22:AY 21/22
Licence of document (English):Metadaten (öffentlich), manuscript version
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