In Search of the Multiplier for Federal Spending in the States During the Great Depression
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https://www.nber.org/papers/w16561
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If there was any time to expect a large peace-time multiplier effect from federal spending in the states, it would have been during the period from 1930 through 1940. Interest rates were near the zero bound, and unemployment rates never fell below 10 percent and there was ample idle capacity. We
提供机构：
美国国家经济研究局
创建时间：
2010-11-01
