IDEAS home Printed from https://ideas.repec.org/a/bla/jindec/v50y2002i1p1-10.html
   My bibliography  Save this article

The Output Effects of Government Sponsored Cartels During the New Deal

Author

Listed:
  • Jason E. Taylor

Abstract

This paper uses the National Industrial Recovery Act of 1933, which set up industry‐wide cartels in the manufacturing sector of the US economy, to gain empirical insight into the current debate on the output effects of cartels. Recent theoretical studies have demonstrated ways in which cartels could expand, rather than reduce output as is traditionally thought. The New Deal cartel experiment does not support this ‘efficient cartel’ view. On the contrary, the legislation brought about a reduction in manufacturing output, as traditional cartel theory would predict.

Suggested Citation

  • Jason E. Taylor, 2002. "The Output Effects of Government Sponsored Cartels During the New Deal," Journal of Industrial Economics, Wiley Blackwell, vol. 50(1), pages 1-10, March.
    • Handle: RePEc:bla:jindec:v:50:y:2002:i:1:p:1-10
    DOI: 10.1111/1467-6451.00164
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1467-6451.00164
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1467-6451.00164?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Iwan Bos & Erik Pot, 2012. "On the possibility of welfare-enhancing hard core cartels," Journal of Economics, Springer, vol. 107(3), pages 199-216, November.
    2. Thierry Kirat & Frédéric Marty, 2021. "The late emerging consensus among American economists on antitrust laws in the 2nd New Deal (1935-1941)," SciencePo Working papers Main halshs-03261721, HAL.
    3. Thierry Kirat & Frédéric Marty, 2020. "The Late Emerging Consensus Among American Economists on Antitrust Laws in the Second New Deal (1935-1941) (Revised Version)," CIRANO Working Papers 2020s-46, CIRANO.
    4. Taylor, Jason E. & Neumann, Todd C., 2016. "Recovery Spring, Faltering Fall: March to November 1933," Explorations in Economic History, Elsevier, vol. 61(C), pages 54-67.
    5. Chicu, Mark & Ziebarth, Nicolas L., 2013. "Multi-market contact and competition: evidence from the Depression-era portland cement industry," International Journal of Industrial Organization, Elsevier, vol. 31(5), pages 603-611.
    6. Todd C. Neumann & Jason E. Taylor & Jerry L. Taylor, 2012. "The Behavior of the Labor Market between SCHECHTER (1935) and JONES & LAUGHLIN (1937)," Cato Journal, Cato Journal, Cato Institute, vol. 32(3), pages 605-627, Fall.
    7. Grajzl, Peter & Murrell, Peter, 2007. "Allocating lawmaking powers: Self-regulation vs government regulation," Journal of Comparative Economics, Elsevier, vol. 35(3), pages 520-545, September.
    8. Jason E. Taylor, 2011. "Work‐sharing During the Great Depression: Did the ‘President's Reemployment Agreement’ Promote Reemployment?," Economica, London School of Economics and Political Science, vol. 78(309), pages 133-158, January.
    9. Taylor, Jason E. & Neumann, Todd C., 2013. "The effect of institutional regime change within the new deal on industrial output and labor markets," Explorations in Economic History, Elsevier, vol. 50(4), pages 582-598.
    10. Chicu, Mark & Vickers, Chris & Ziebarth, Nicolas L., 2013. "Cementing the case for collusion under the National Recovery Administration," Explorations in Economic History, Elsevier, vol. 50(4), pages 487-507.
    11. Adam Smith & Richard Wagner & Bruce Yandle, 2011. "A theory of entangled political economy, with application to TARP and NRA," Public Choice, Springer, vol. 148(1), pages 45-66, July.
    12. Jason E. Taylor, 2007. "Cartel Code Attributes and Cartel Performance: An Industry-Level Analysis of the National Industrial Recovery Act," Journal of Law and Economics, University of Chicago Press, vol. 50(3), pages 597-624.
    13. Taylor Jason E, 2010. "The Welfare Impact of Collusion under Various Industry Characteristics: A Panel Examination of Efficient Cartel Theory," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-29, October.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jindec:v:50:y:2002:i:1:p:1-10. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.