Why did income growth vary across states during the Great Depression?
By: by Thomas A. Garrett and David C. Wheelock.
Contributors: Wheelock, David C.; Federal Reserve Bank of St. Louis.
Series: Working paper ;; 2005-013A; Working paper (Federal Reserve Bank of St. Louis : Online) ;; 2005-013A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2005
Place of publication: [St. Louis, Mo.]
Language: eng
Format: Electronic resource
Subjects: Depressions -- 1929 -- United States -- Regional disparities.; Income -- United States -- Regional disparities.
Description: "State per capita incomes became more disperse during the contraction phase of the Great Depression, and less disperse during the recovery phase.  We investigate the effects of geography, industry structure, bank failures and fiscal policies on state income growth during each phase.  We find that industrial composition and spatial interdependencies contributed to negative state income growth during the contraction, whereas New Deal spending and spatial interdependencies contributed to positive state income growth during the expansion phase.  We find no evidence that banking conditions or state government expenditures influenced state income growth during the Great Depression"--Federal Reserve Bank of St. Louis web site.
Notes: Includes bibliographical references.
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Also available in print.
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Mode of access: World Wide Web.