Author:
Fishback Price,Kachanovskaya Valentina
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.
Publisher
Cambridge University Press (CUP)
Subject
Economics, Econometrics and Finance (miscellaneous),Economics and Econometrics,History
Reference92 articles.
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Cited by
39 articles.
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