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Analysing State Spending and Revenues in Oklahoma During the Great Depression
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The LaFollettes, Progressivism, and the Wisconsin Idea: The 1930s in the Badger State
No full textThis paper investigates the political economy of the state of Wisconsin during the years of the Great Depression. In the existing literature, state responses to the economic downturn have been overshadowed by the changes happening in the federal government during the period. The paper is broken into nine sections. Section I is an introduction. Section II gives an overview of Wisconsin during the 1930s. Section III explores the LaFollette family and the growth of the Progressive Party in Wisconsin. Section IV is a detailed discussion of the Unemployment Reserves and Compensation Act of 1932, the first of its kind in the United States. Section V looks into the debate over income taxes versus property taxes. Section VI discusses Chapter 15 of the 1935 Session Laws. Section VII describes data categorization I did to fill a gap in federal records. Section VIII is an early empirical look at the drivers of state tax revenue during the 1930s. Section IX is a bibliography
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An Analysis of State Spending in Tennessee From 1929-1940
No full textThis thesis analyzes the effects of both federal and state programs on the state of Tennessee's revenues and expenditures during and following the Great Depression. A historical review of the time period spanning from 1929 to 1940 in conjunction with sorting and analysis of data on state revenue and expenditure contribute to a better understanding of the overall economic interaction between Tennessee and the federal government
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Colorado's Fiscal Choices During the Great Depression
No full textThe Great Depression was a tough time of economic downturn throughout the United States. Each state responded to this time period differently. Throughout this thesis, I will examine the fiscal choices of the state of Colorado specifically from 1929 to 1940. I will provide a comprehensive overview of the Colorado state government's choices in their attempt to revitalize the state's economy and provide relief to the people of Colorado throughout the Great Depression. I will analyze the taxes and spending choices outlined in state record and session laws, focusing specifically on the key industries of Colorado. The paper uses two major tools to explain these phenomena. The first is a series of narratives, which explain the social and political climate in Colorado from 1929-1940 throughout changes in leadership. The second is a quantitative analysis. I will identify key variables and then explore their causal relationship with Colorado's per capita state tax revenue. I will then compare the revenue and expenditures of Colorado's bordering states for comparison and run regressions to identify nationwide trends
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The Minnesota State Government in the Great Depression
No full textMinnesota had a number of industries in the 1930s that played key roles in determining state policy. These industries included agriculture, flour, and lumber. During the time period, Minnesota politics became more radical in order to address the vast changes taking place that were brought on by the Great Depression. This radicalism brought on one of the most powerful state level third parties the nation has ever seen and possibly Minnesota's most successful governor. From 1929 to 1940, Minnesota's state legislature had many obstacles to overcome including an economic bubble in the agriculture industry, teamster strikes within the Twin Cities, and radical state-level politics. The legislature implemented numerous programs and tax policy changes to face these challenges, while the federal government passed the New Deal to address many of the same issues from a federal level. Many of these policies have been described by historians as successful while others have not. Based upon the statistics provided by the University of Arizona Economics Department, there may have been underlying economic factors that were overlooked
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OREGON: ANALYSIS OF OREGON’S RESPONSE TO THE GREAT DEPRESSION
No full textThe following paper details some of the most important reactions the State of Oregon had to the Great Depression during the 1930s.The majority of the work available today on the Great Depression deals with what the federal government did to help the states, but seldom is there information on what the states did themselves. Professor Price Fishback, of the University of Arizona, has provided his honors students with an opportunity to work on a project that has never been done before. With the data we now have, we are able to talk about what the states did during the Great Depression and back it up with hard evidence. By looking through state statutes and newspapers from the 1930s, I was able to construct a narrative describing Oregon during that time. A regression analysis is also included to find the effects of five variables on state tax revenue per capita and I was able to compare these variables with Oregon’s surrounding states to see how they all fared in comparison. The thesis paper provides us with greater insight to the State of Oregon during the Great Depression as well as a better understanding to the data that we currently have
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The firm's capital structure decision: Market power, debt maturity, and uncertain cash flows
No full textA current outgrowth of the nearly four decades of research in capital structure is the investigation of linkages between the firm's decisions and factors outside of strictly financial determinants. The three essays that comprise this dissertation offer contributions to this area of research. The first essay explores the connection between the product market and the firm's financial decisions. I hypothesize that market power acts as a buffer against strategic action on the part of a competitor and the existence of market power allows the firm to hold more debt in its capital structure. Using a binary choice model, I find that firms with market power have a higher propensity to issue public debt rather than public equity. In addition, no evidence is found suggesting agency costs have a significant impact on the security issue decision. The second essay is an extension of an analytical model of the free-cash-flow hypothesis developed by Stulz (1990). Debt can increase the value of a firm by reducing the amount of cash the manager can misappropriate or invest in personal projects. The extension is developed under the assumption that the stockholders do not know with certainty the mean of the cash flow distribution. The extension drives two main results: one, the amount of debt in the capital structure of a firm is dependent upon the precision of the shareholders' a priori estimate of future cash flows; and, two, the maturity of the firm's debt is dependent upon the shareholders' estimate of the mean of future cash flow. The third essay empirically explores the relationship between the firm's maturity structure of debt and the firm's maturity structure of assets. New variables are constructed to specifically test the maturity-matching hypothesis. The dependent variable is the change in average maturity of debt caused by a new issue. An independent variable measures the difference between the average maturity of debt and the average maturity of assets. I find statistically significant evidence supporting the maturity-matching hypothesis and inconsistent support for the agency hypothesis.This item was digitized from a paper original and/or a microfilm copy. If you need higher-resolution images for any content in this item, please contact us at [email protected] file replaced with corrected file October 2023
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The Rise and Fall of Building and Loans in the U.S., 1920-1940
No full textThe financial crises of 2008 have inflamed the interest in looking back at the Great
Depression and reexamining its causes and consequences. Although unlike the recent financial
crises mortgages are not considered as the primary reason for the Great Depression, extensive
research from Brocker and Hanes (2013) indicates that the 1920s real estate boom was a major
contributor to the severity of the Great Depression. Also, the interventionist policies of the
Roosevelt administration followed by the Great Depression triggered some of the significant
changes in the US housing market that are still in effect.
In this paper, I present information on the growth in institutional lending within the US
mortgage market in the 1920s. I outline major structural changes in mortgages, in particular
mortgages from Building and Loan Associations (B&Ls), and finally I use data from the balance
sheets of B&Ls in the states of New York, Iowa, Wisconsin and North Carolina to examine how
building and loan mortgages grew in the 1920s and then estimate the relationship between
mortgages and building permits, interest rates and real estate owned assets
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North Dakota during the Great Depression
No full textThis paper examines North Dakota's response to the Great Depression. By establishing a historical background, combined with the qualitative data, it shows that North Dakota's agricultural economy and progressive legacy played major roles in how the Great Depression affected the state, as well as how North Dakota reacted to the economic crisis. In forming a historically narrative, the paper aims to show the political turbulence the Depression helped cause and the outrages attempts North Dakotan politicians made to aid their citizens. The qualitative side aims to explain North Dakota's place among its neighbors and examine some of the potential factors that affected the economy of the state
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The Effect of the BAWI Program on Industrial Growth in Mississippi
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