THE EFFECTIVENESS OF GOVERNMENT POLICIES TO ALLEVIATE AGRICULTURAL DISTRESS: A CASE STUDY OF THE 1930's

Farm failure rates in the U. S. reached historic heights in the inter-war years. We estimate the dynamic relationship between farm earnings and farm failures and assess the effectiveness of government intervention - state farm foreclosure moratoria, an expanded federal role in farm mortgage lending, and the programs instituted under the Agricultural Adjustment Administration. Our empirical results indicate that the influence of past earnings on farm failures is important and complex. Our counterfactual estimates of a world without government programs suggest that government intervention saved about two hundred thousand farms from failure.


Issue Date:
Jun 01 1986
Publication Type:
Working or Discussion Paper
Language:
English
Total Pages:
38




 Record created 2017-07-12, last modified 2017-08-29

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