Railroad Bailouts in the Great Depression
收藏DataCite Commons2026-02-24 更新2026-05-03 收录
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https://www.icpsr.umich.edu/sites/jeh/view/studies/237962
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资源简介：
The Reconstruction Finance Corporation and Public Works Administration
loaned 50 U.S. railroads over $1.1 billion between 1932 and 1939. The
government’s goal was to increase employment and decrease the likelihood of
bond defaults. Bailouts appear to have had little effect on employment, but we
estimate that they did increase the average wage of railroad employees.
Bailouts are estimated to have reduced firm debt, but did not significantly
impact bond default. We find some evidence that manufacturing firms located
close to railroads benefited from bailout spillovers.
提供机构：
ICPSR - Interuniversity Consortium for Political and Social Research
创建时间：
2025-09-15
