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Did New Deal Grant Programs Stimulate Local Economies? A Study of Federal Grants and Retail Sales During the Great Depression

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  • FISHBACK, PRICE V.
  • HORRACE, WILLIAM C.
  • KANTOR, SHAWN

Abstract

Using data on New Deal grants to each U.S. county from 1933 to 1939, we estimate how relief and public works spending and payments to farmers through the Agricultural Adjustment Administration influenced retail consumption. On a per capita basis, we find that an additional dollar of public works and relief spending was associated with a 44 cent increase in 1939 retail sales. In contrast, the AAA seems to have had a negative effect on retail sales, suggesting that nonlandowners in the farm sector suffered disproportionate declines in income as a result of the AAA.

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Bibliographic Info

Article provided by Cambridge University Press in its journal The Journal of Economic History.

Volume (Year): 65 (2005)
Issue (Month): 01 (March)
Pages: 36-71

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Handle: RePEc:cup:jechis:v:65:y:2005:i:01:p:36-71_05

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Cited by:
  1. Richard Hornbeck & Suresh Naidu, 2012. "When the Levee Breaks: Black Migration and Economic Development in the American South," NBER Working Papers 18296, National Bureau of Economic Research, Inc.
  2. Hatton, Timothy J. & Thomas, Mark, 2010. "Labour Markets in the Interwar Period and Economic Recovery in the UK and the USA," CEPR Discussion Papers 7983, C.E.P.R. Discussion Papers.
  3. Verma, Ashish & Sudhira, H.S. & Rathi, Sujaya & King, Robin & Dash, Nibedita, 2013. "Sustainable urbanization using high speed rail (HSR) in Karnataka, India," Research in Transportation Economics, Elsevier, vol. 38(1), pages 67-77.
  4. Depew, Briggs & Fishback, Price V. & Rhode, Paul W., 2013. "New deal or no deal in the Cotton South: The effect of the AAA on the agricultural labor structure," Explorations in Economic History, Elsevier, vol. 50(4), pages 466-486.
  5. Richard Hornbeck & Suresh Naidu, 2014. "When the Levee Breaks: Black Migration and Economic Development in the American South," American Economic Review, American Economic Association, vol. 104(3), pages 963-90, March.
  6. Emi Nakamura & Jón Steinsson, 2011. "Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions," NBER Working Papers 17391, National Bureau of Economic Research, Inc.
  7. Kantor, Shawn & Fishback, Price V. & Wallis, John Joseph, 2013. "Did the New Deal solidify the 1932 Democratic realignment?," Explorations in Economic History, Elsevier, vol. 50(4), pages 620-633.
  8. Price V. Fishback & John Joseph Wallis, 2012. "What Was New About the New Deal?," NBER Working Papers 18271, National Bureau of Economic Research, Inc.
  9. Edward L. Glaeser, 2012. "Urban Public Finance," NBER Working Papers 18244, National Bureau of Economic Research, Inc.
  10. Timothy J. Hatton & Mark Thomas, 2012. "Labour Markets in Recession and Recovery: The UK and the USA in the 1920s and 1930s," CEH Discussion Papers 001, Centre for Economic History, Research School of Economics, Australian National University.
  11. 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.
  12. Price V. Fishback & Valentina Kachanovskaya, 2010. "In Search of the Multiplier for Federal Spending in the States During the Great Depression," NBER Working Papers 16561, National Bureau of Economic Research, Inc.
  13. Richard Hornbeck & Pinar Keskin, 2012. "Does Agriculture Generate Local Economic Spillovers? Short-run and Long-run Evidence from the Ogallala Aquifer," NBER Working Papers 18416, National Bureau of Economic Research, Inc.
  14. Joseph P. Ferrie & Karen Rolf, 2011. "Socioeconomic Status in Childhood and Health After Age 70: A New Longitudinal Analysis for the U.S., 1895-2005," NBER Working Papers 17016, National Bureau of Economic Research, Inc.
  15. Carl Kitchens & Price Fishback, 2013. "Flip the Switch: The Spatial Impact of the Rural Electrification Administration 1935-1940," NBER Working Papers 19743, National Bureau of Economic Research, Inc.

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