The multiplier for federal spending in the states during the great depression

Price Fishback; Valentina Kachanovskaya

doi:10.1017/S0022050715000054

The multiplier for federal spending in the states during the great depression

Price Fishback, Valentina Kachanovskaya

Economics

Research output: Contribution to journal › Article › peer-review

17 Scopus citations

Abstract

To estimate the impact of federal spending on state incomes, we develop an annual panel data set between 1930 and 1940. Using panel methods we estimate that an added dollar of federal spending in the state increased state per capita income by between 40 and 96 cents. The point estimates for nonfarm grants are higher and for AAA farm grants are much smaller and negative in some cases. The spending led to increase in durable good spending on automobiles but had no positive effects on private employment.

Original language	English (US)
Pages (from-to)	125-162
Number of pages	38
Journal	Journal of Economic History
Volume	75
Issue number	1
DOIs	https://doi.org/10.1017/S0022050715000054
State	Published - Mar 13 2015

ASJC Scopus subject areas

History
Economics and Econometrics
Economics, Econometrics and Finance (miscellaneous)

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