Shattered rails, ruined credit: Financial fragility and railroad operations in the great depression

نتاج البحث: نشر في مجلةمقالةمراجعة النظراء

12 اقتباسات (Scopus)

ملخص

This article uses a new panel dataset to investigate the relationship between financial fragility and real activity on U.S. railroads during 1929-1940. Leverage had a negative effect on maintenance, within small firms only. Bankruptcy had a positive effect on maintenance and employment, within large firms only. Both leverage and bankruptcy effects were significantly larger during the worst depression years. Had all railroads been bankrupt during 1930-1933, GDP would have increased by 0.2 percent annually, and employment by 0.125 percent annually. Loans by the Reconstruction Finance Corporation had no impact on maintenance or employment.

اللغة الأصليةالإنجليزيّة
الصفحات (من إلى)802-825
عدد الصفحات24
دوريةJournal of Economic History
مستوى الصوت63
رقم الإصدار3
المعرِّفات الرقمية للأشياء
حالة النشرنُشِر - سبتمبر 2003
منشور خارجيًانعم

بصمة

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