Planning on the Potomac: A review essay on Jason e. Taylor’s deconstructing the monolith: The microeconomics of the national industrial recovery act
By: Hausman, Joshua K
.
Material type: 
BookPublisher: Journal of Economic Literature Description: 59(1), Mar, 2021: p.244-264.
In:
Journal of Economic LiteratureSummary: Taylor (2019) details heterogeneity in the effects of the National Industrial Recovery Act (NIRA) across industries and across time. Through first the President's Reemployment Act (PRA) and then industry-specific "codes of fair competition," the NIRA raised wages and restricted working hours. In some—but far from all—cases industries also used a NIRA code to collude, raising prices and restricting output. The effect of the NIRA peaked in fall 1933 and winter 1934; thereafter, compliance declined. I review the intellectual history of the NIRA, the implementation of the PRA and the NIRA codes, and Taylor's econometric evidence on their effects. I end with a discussion of the implications of Taylor's book for understanding the effect of the NIRA on US recovery from the Great Depression.- Reproduced
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
Articles
|
Indian Institute of Public Administration | 59(1), Mar, 2021: p.244-264 | Available | AR125302 |
Taylor (2019) details heterogeneity in the effects of the National Industrial Recovery Act (NIRA) across industries and across time. Through first the President's Reemployment Act (PRA) and then industry-specific "codes of fair competition," the NIRA raised wages and restricted working hours. In some—but far from all—cases industries also used a NIRA code to collude, raising prices and restricting output. The effect of the NIRA peaked in fall 1933 and winter 1934; thereafter, compliance declined. I review the intellectual history of the NIRA, the implementation of the PRA and the NIRA codes, and Taylor's econometric evidence on their effects. I end with a discussion of the implications of Taylor's book for understanding the effect of the NIRA on US recovery from the Great Depression.- Reproduced
There are no comments for this item.