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Great depressions of the twentieth century

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Author Info
Timothy J. Kehoe
Edward C. Prescott ()

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Abstract

The worldwide Great Depression of the 1930s was a watershed for both economic thought and economic policymaking. It led to the belief that market economies are inherently unstable and to the revolutionary work of John Maynard Keynes. Its impact on popular economic wisdom is still apparent today. ; This book, which uses a common framework to study sixteen depressions, from the interwar period in Europe and America as well as from more recent times in Japan and Latin America, challenges the Keynesian theory of depressions. It develops and uses a methodology for studying depressions that relies on growth accounting and the general equilibrium growth model.

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This book is provided by Federal Reserve Bank of Minneapolis in its series Monograph with number 2007gdott and published in .

Handle: RePEc:fip:fedmmo:2007gdott

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Postal: 90 Hennepin Avenue, P.O. Box 291, Minneapolis, MN 55480-0291
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Related research
Keywords: Depressions

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This item is featured on the following reading lists:
  1. Quantitative Macroeconomics and Real Business Cycles (QM&RBC)
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Crucini, Mario J. & Kahn, James, 1996. "Tariffs and aggregate economic activity: Lessons from the Great Depression," Journal of Monetary Economics, Elsevier, vol. 38(3), pages 427-467, December. [Downloadable!] (restricted)
    Other versions:
  2. Martin Neil Baily & Robert M. Solow, 2001. "International Productivity Comparisons Built from the Firm Level," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 151-172, Summer. [Downloadable!] (restricted)
  3. Michael D. Bordo & Christopher J. Erceg & Charles L. Evans, 2000. "Money, Sticky Wages, and the Great Depression," American Economic Review, American Economic Association, vol. 90(5), pages 1447-1463, December. [Downloadable!] (restricted)
    Other versions:
  4. Harold L. Cole & Lee E. Ohanian, 1999. "The Great Depression in the United States from a neoclassical perspective," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 2-24. [Downloadable!]
  5. Andrew Atkeson & Patrick J. Kehoe, 1995. "Industry evolution and transition: measuring investment in organization," Staff Report 201, Federal Reserve Bank of Minneapolis. [Downloadable!]
  6. Lucas, Robert E., 1977. "Understanding business cycles," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 5, pages 7-29. [Downloadable!] (restricted)
  7. Russell Cooper & Dean Corbae, 2001. "Financial collapse and active monetary policy: a lesson from the Great Depression," Staff Report 289, Federal Reserve Bank of Minneapolis. [Downloadable!]
  8. S. Harrison & M. Weder, . "Did Sunspot Cause the Great Depression?," Sonderforschungsbereich 373 2002-35, Humboldt Universitaet Berlin.
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This page was last updated on 2008-8-24.

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