Farm Foreclosures in the United States During the Interwar Period
研究了1920-1930年代美国各州农场丧失赎回权率差异的原因，发现农场收入低迷、一战引发的农业扩张乐观情绪以及抵押债务结构差异是主要影响因素。
Farm foreclosures in the United States during the 1920s and 1930s reached heights never previously or since exceeded. In this paper hypotheses are proposed and tested to account for the cross-state variation in farm foreclosures during the interwar period. Foreclosures are modeled to depend on depressed farm earnings throughout the 1920s and 1930s, optimistic agricultural expansion brought on by World War I, and cross-state variation in mortgage debt structure. The empirical results are consistent with the proposed multiple causal model.