Data and Code for "Planning on the Potomac: A Review Essay on Jason E. Taylor’s Deconstructing the Monolith: The Microeconomics of the National Industrial Recovery Act"

Principal Investigator(s): View help for Principal Investigator(s) Joshua K. Hausman, University of Michigan

Name	File Type	Size	Last Modified
Fig2_3.do	text/x-stata-syntax	3.3 KB	03/27/2020 06:03:PM
readme.txt	text/plain	462 bytes	04/16/2020 07:56:AM
setup.do	text/x-stata-syntax	83 bytes	04/16/2020 07:56:AM

Project Citation:

Hausman, Joshua K. Data and Code for “Planning on the Potomac: A Review Essay on Jason E. Taylor’s Deconstructing the Monolith: The Microeconomics of the National Industrial Recovery Act.” Nashville, TN: American Economic Association [publisher], 2021. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2021-02-26. https://doi.org/10.3886/E118524V1

Project Description

Summary:

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 U.S. recovery from the Great Depression.

Scope of Project

JEL Classification:
L41 Monopolization; Horizontal Anticompetitive Practices
N12 Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: U.S.; Canada: 1913-

Geographic Coverage: United States

Data Type(s): program source code

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Published Versions

V1 [2021-02-26]

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DDI 2.5

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