The Demand for Land: The United States, 1820–1860
研究了1820至1860年间美国土地需求如何受传统观念和资产创造影响，发现南方公地销售与预期货币回报和供给价格相关，1835–1837年的异常主要源于华盛顿的具体政策。
The demand for land in the United States was shaped by inherited attitudes and modern asset creation. Immigrants inherited the view that landowners had an enhanced chance of survival in a “starving time.” But the United States farmer also found that by clearing his unimproved acres he could create assets from otherwise idle time between seasonal peaks in the use of family labor. Public land sales in the South from 1820 to 1860 correlate well with variables that reflect expected money return and supply price. Substantial residuals for 1835–1837 chiefly trace to specific policy actions in Washington.