Real Business Cycle Models of the Great Depression
AbstractThis paper presents and assesses the recent application of models in the Real Business Cycle (RBC) tradition to the analysis of the Great Depression of the 1930s. The main conclusion is that the breaking of the depression taboo has been a desirable completion of the cliometric revolution: no historic event should be exempt from a dispassionate quantitative analysis. On the other hand, the substantive contribution of RBC models is not yet sufficient to establish a new historiography of the Great Depression.
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Bibliographic InfoPaper provided by Association Française de Cliométrie (AFC) in its series Working Papers with number 10-01.
Length: 27 pages
Date of creation: 2010
Date of revision:
Other versions of this item:
- Luca Pensieroso, 2011. "Real business cycle models of the Great Depression," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 5(2), pages 101-119, June.
- Luca PENSIEROSO, 2009. "Real Business Cycle Models of the Great Depression," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2009034, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-01-16 (All new papers)
- NEP-DGE-2011-01-16 (Dynamic General Equilibrium)
- NEP-HIS-2011-01-16 (Business, Economic & Financial History)
- NEP-MAC-2011-01-16 (Macroeconomics)
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