Collaborative Proposal: Government, Housing, and the Changing Income Distribution During the Great Depression: A Disaggregated and Microeconomic Approach

合作提案：政府、住房和大萧条期间不断变化的收入分配：一种分类的微观经济方法

• 批准号: 0617972
• 负责人: Price Fishback
• 金额: --
• 依托单位: University of Arizona
• 依托单位国家: 美国
• 项目类别: Continuing Grant
• 财政年份: 2006
• 资助国家: 美国
• 起止时间: 2006-08-01 至 2009-07-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=0617972&HistoricalAwards=false
• 关键词: Collaborative; Proposal; Government; Housing; Changing

This project performs microeconomic studies of housing markets, housing finance institutions, and changes in the income distribution during the Great Depression using panels of city and neighborhood level data to analyze how these markets were influenced by various factors, including federal, state, and local government policies. Current worries about a possible bursting of a housing bubble pale in comparison to the Great Depression. After a housing boom in the late 1920s, housing markets and construction ground to a halt in some markets and housing values plummeted. Only a handful of modern economists and economic historians and several NBER economists in the 1950s have published studies on the microeconomics of housing during the 1930s. Housing is particularly important because it accounts for a large percentage of household assets and mortgage loans are typically the major form of debt owed by households. The New Deal administrators saw housing as a major concern and established several programs to resolve housing problems, including the Home Owners' Loan Corporation's (HOLC), which refinanced 20 percent of all mortgages in 1933-1934 and the Federal Housing Administration, which began providing insurance of mortgages and loans for repair and reconstruction. This project analyzes housing markets during the Great Depression using a series of panel data sets that we will construct from original sources and government documents. It analyzes annual building permit activity for over 200 cities in the 1920s and 1930s. For all U.S. counties, it examines changes in the distribution of home ownership, housing values, and rents for 7 to 11 value ranges between the census years 1930 and 1940 for all counties in the U.S. After matching information from detailed property inventories from the mid-1930s for over major 200 cities and towns with the 1930 and 1940 information, the project examines the decline in home ownership rates, average housing values and rents from the late 1920s into the mid-1930s and the recovery in these values in 1939 for up to 200 cities in the United States. Based on formerly confidential HOLC housing studies, the project examines the bust and recovery in housing values for different qualities of housing for thousands of neighborhoods across 200 cities with emphasis on the impact of neighborhood amenities and disamenities, income levels, and racial and ethnic differences across the neighborhoods.The investigators trace how variations in the 1929-1933 decline across cities influenced the incomes of specific groups of households in 1929, 1932, and 1933 in different parts of the income distribution using retrospective information from housing finance surveys in at least 22 cities. The investigators also examine for a larger number of cities how shares of households in different income ranges changed between 1933 and 1940. Using HOLC surveys of all the mortgage lenders in roughly 200 cities, they analyze the dramatic cross-sectional differences in the types of institutions offering mortgages in different parts of the county and the changes in the institutions roles and the types of mortgages contracts that they agreed to during the 1930s. Throughout this project examines the interactions between Federal government programs and state and local taxing and spending programs on these housing markets and on the income distributions.Broader Impact: The project broadens our understanding of the factors that influence housing markets, particularly in Depressions. The datasets created and the .pdf file copies of the records that are posted provide a large public good to other researchers interested in these and other topics related to the 1930s and in discerning long run trends in during the 20th century.

该项目对住房市场，住房金融机构进行了微观经济研究，并使用城市和邻里水平数据的大萧条时期的收入分配变化，以分析这些市场如何受到包括联邦，州和地方政府政策在内的各种因素的影响。 与大萧条相比，目前担心房屋气泡可能会爆裂。在1920年代后期的住房繁荣之后，房屋市场和建筑地面在某些市场中停止了，住房价值暴跌。 1950年代，只有少数几个现代经济学家和经济历史学家以及几位NBER经济学家发表了关于1930年代住房微观经济学的研究。 住房尤其重要，因为它占家庭资产和抵押贷款的很大一部分通常是家庭欠下的主要债务形式。新交易管理人员将住房视为主要关注点，并建立了一些解决住房问题的计划，包括房主的贷款公司（HOLC），该公司在1933 - 1934年为所有抵押贷款的20％和联邦住房管理局（Federal Housing Administration）和联邦住房管理（Federal Housing Adminissmation）进行了再融资，该公司开始提供抵押和贷款的维修和贷款保险。 该项目使用我们将从原始资料和政府文件中构建的一系列小组数据集分析了大萧条期间的住房市场。它分析了1920年代和1930年代200多个城市的年度建筑许可活动。对于美国所有县，它检查了房屋所有权，住房价值的分布以及1930年至1940年之间的7至11个价值范围的变化，在美国所有县的人口普查年度之间，在与1930年和1940年的房屋中的详细财产清单中匹配了从1930年和1940年的大型城镇中的详细财产清单中匹配的信息，该项目的平均值是平均值，该项目的平均价值，该项目的平均值，该项目的平均值，该项目的平均价值，是房屋的平均值。 1930年代中期以及1939年这些价值的回收率在美国最多200个城市。根据以前的机密性HOLC住房研究，该项目研究了200个城市中数千个社区不同住房质量的萧条和恢复，重点是社区便利性和障碍，收入水平，种族和种族差异的影响，以及整个社区的种族和种族差异。 1933年，在收入分配的不同部分，使用至少22个城市的住房融资调查中的回顾性信息。 调查人员还研究了更多城市，在1933年至1940年之间，不同收入范围内的家庭的份额如何发生变化。使用大约200个城市中所有抵押贷款人的HOLC调查，他们分析了在县的不同地区以及在交易中的各种范围内的机构类型的巨大横截面差异，并在交易中及其在交易中的各种范围以及他们的契约范围的变化以及他们的范围的变化以及他们的范围的变化以及他们的范围阶段的变化以及他们的范围阶段，并以这些方式构成了这些机构。在整个项目中，探讨了联邦政府计划与州和地方税收和支出计划之间在这些房屋市场以及收入分配上的互动之间的互动。BROADER的影响：该项目扩大了我们对影响住房市场的因素的理解，尤其是在抑郁症上。创建的数据集和发布的记录的.pdf文件副本为对与1930年代有关的这些和其他主题感兴趣的其他研究人员提供了大量的公共利益，并辨别了20世纪的长期趋势。