caa a22 4500 475841271 CHVBK 20180406123902.0 cr unu---uuuuu 170329e20000401xx s 000 0 eng 10.1023/A:1005054019819 doi (NATIONALLICENCE)springer-10.1023/A:1005054019819 Anderson William Department of Economics, Auburn University, 36849, AL, U.S.A. aut Risk and the National Industrial Recovery Act: An Empirical Evaluation [Elektronische Daten] [William Anderson] This paper examines the National Industrial Recovery Act of 1933 to see if the law helped "stabilize” the U.S. economy during the Great Depression. The test measures sample variances of the rates of return in stock price indices for six major U.S. industries as well as the overall stock market and compares those variances across five time periods. The statistics reveal that the NIRA did not reduce risks faced by these firms. Stocks for NIRA-regulated industries did not significantly decline in risk during the NIRA period, as compared with sample variance changes elsewhere during the Great Depression. The paper then interprets the results from a public choice point of view. Kluwer Academic Publishers, 2000 Public Choice Kluwer Academic Publishers 103/1-2(2000-04-01), 139-161 0048-5829 103:1-2<139 2000 103 11127 https://doi.org/10.1023/A:1005054019819 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1023/A:1005054019819 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Anderson William Department of Economics, Auburn University, 36849, AL, U.S.A aut NATIONALLICENCE 773 0- Public Choice Kluwer Academic Publishers 103/1-2(2000-04-01), 139-161 0048-5829 103:1-2<139 2000 103 11127 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer