Federal Funding During the Great Depression (free access extended)

The Editors of the Journal of Economic History are pleased to announce the publication of “The Multiplier for Federal Spending in the States During the Great Depression” in the March issue of The Journal.

Fishback and Kachanovskaya measure the multiplier for New Deal spending in the states during the 1930s. They find that a dollar of federal public works and relief spending raised state incomes by about a dollar, payments to farmers to take land out of production led to small or even negative effects on state incomes, and federal spending led to small or negative effects on private employment.

The paper can be read by clicking on the following link: DOI: http://dx.doi.org/10.1017/S0022050715000054

Free access to the link in available until Monday, May 4, 2015