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Real Business Cycle Models of the Great Depression

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Author Info
Luca Pensieroso (FNRS, IRES, Université catholique de Louvain (Belgique).)

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Abstract

This 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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File URL: http://www.cliometrie.org/pdf/wp/AFC_WP_01-2010.pdf
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Publisher Info
Paper provided by Association Française de Cliométrie (AFC) in its series Working Papers with number 10-01.

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Length: 27 pages
Date of creation: 2010
Date of revision:
Handle: RePEc:afc:wpaper:10-01

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Web page: http://www.cliometrie.org
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This page was last updated on 2009-11-27.

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