Did Monetary Forces Cause the Great Depression? PDF Download
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Author: Peter Temin
Publisher: New York : Norton
ISBN: 9780393092097
Category : Business & Economics
Languages : en
Pages : 201
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Book Description
"Given the magnitude and importance of this event [the Great Depression], it is surprising how little we know about its causes." —Peter Temin
Author: Peter Temin
Publisher: New York : Norton
ISBN: 9780393092097
Category : Business & Economics
Languages : en
Pages : 201
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Book Description
"Given the magnitude and importance of this event [the Great Depression], it is surprising how little we know about its causes." —Peter Temin
Author: Albrecht Ritschl
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper recasts Temin's (1976) question of whether monetary forces caused the Great Depression in a modern time series framework. We evaluate the effects of monetary policy against nonmonetary alternatives in a Bayesian updating framework with time-varying parameters. The predictive power of monetary policy for output is very small for the early phase of the depression and breaks down almost entirely after 1931. During the propagation phase of 1930-31, monetary policy is able to forecast correctly at short time horizons put invariably predicts recovery at longer horizons. In contrast, nonmonetary leading indicators on residential construction and equipment investment have impressive predictive power. Recursive calculation of the impulse response functions exhibits remarkable structural instability and strong reactions to monetary regime changes during the depression, just as predicted by the Lucas (1976) critique.
Author: Albrecht Ritschl
Publisher:
ISBN:
Category : Depressions
Languages : en
Pages : 44
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Book Description
Author: Albrecht Ritschl (Wirtschaftshistoriker)
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Peter TEMIN
Publisher:
ISBN:
Category :
Languages : en
Pages : 8
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Author: Arthur E. Gandolfi
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Peter Temin
Publisher:
ISBN:
Category : Depressions
Languages : en
Pages : 60
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Book Description
Author: Ben S. Bernanke
Publisher: Princeton University Press
ISBN: 0691259666
Category : Business & Economics
Languages : en
Pages : 352
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Book Description
From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. Essays on the Great Depression brings together Bernanke’s influential work on the origins and economic lessons of the Depression, and this new edition also includes his Nobel Prize lecture.
Author: Peter Temin
Publisher: MIT Press
ISBN: 9780262261197
Category : Business & Economics
Languages : en
Pages : 220
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Book Description
Lessons from the Great Depression provides an integrated view of the depression, covering the experience in Britain, France, Germany, and the United States. Do events of the 1930s carry a message for the 1990s? Lessons from the Great Depression provides an integrated view of the depression, covering the experience in Britain, France, Germany, and the United States. It describes the causes of the depression, why it was so widespread and prolonged, and what brought about eventual recovery. Peter Temin also finds parallels in recent history, in the relentless deflationary course followed by the U.S. Federal Reserve Board and the British government in the early 1980s, and in the dogged adherence by the Reagan administration to policies generated by a discredited economic theory—supply-side economics.
Author: R. Glenn Hubbard
Publisher: University of Chicago Press
ISBN: 9780226355887
Category : Business & Economics
Languages : en
Pages : 420
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Book Description
Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse? Using both historical and contemporary episodes of breakdowns in financial trade, contributors to this volume draw insights from theory and empirical data, from the experience of closed and open economies worldwide, and from detailed case studies. They explore the susceptibility of American corporations to economic downturns; the origins of banking panics; and the behavior of financial markets during periods of crisis. Sever papers specifically address the current thrift crisis—including a detailed analysis of the over 500 FSLIC-insured thrifts in the southeast—and seriously challenge the value of recent measures aimed at preventing future collapse in that industry. Government economists and policy makers, scholars of industry and banking, and many in the business community will find these timely papers an invaluable reference.
