Work

Lessons from the 1930s' Great Depression

Year: 2010

Type: report

Abstract: This paper provides a survey of the Great Depression comprising both a narrative account and a detailed review of the empirical evidence, focusing especially on the experience of the United States. We examine the reasons for and flawed resolution of the American banking crisis, as well as the conduct of fiscal and monetary policy. We also consider the pivotal role of the gold standard in the international transmission of the slump and leaving gold as a route to recovery. Policy lessons for today from the Great Depression are discussed, as are some implications for macroeconomics.

Source: Warwick Research Archive Portal (University of Warwick)

Authors: Nicholas Crafts, Peter Fearon

Institutions: University of Warwick, Centre for Economic Policy Research, University of Leicester

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W3123801056

Cites: 30

Cited by: 1

Related to: 10