Europe's Great Depression - Coordination Failure after the First World War
Abstract
In this paper I survey and reinterpret the extensive literature on Europe's Great Depression. I argue that Europe could not exploit her vast economic potential after 1918, because the war had not yet come to an end - indeed it did not end before 1945. Both, domestic and international institutions suffered from a lack of reciprocal trust and commitment, which can be clearly illustrated in the realm of monetary policy but affected many other areas of policymaking, such as energy or migration policies. These institutions in turn affected expectations and thereby the extent to which for example expansionary policies could be effective.Download Info
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 3164.Length:
Date of creation: 2010
Date of revision:
Handle: RePEc:ces:ceswps:_3164
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Related research
Keywords: Great Depression; Europe; coordination failure;Other versions of this item:
- Nikolaus Wolf, 2010. "Europe's Great Depression: coordination failure after the First World War," Oxford Review of Economic Policy, Oxford University Press, vol. 26(3), pages 339-369, Autumn.
- Wolf, Nikolaus, 2010. "Europe’s Great Depression: Coordination Failure after the First World War," CEPR Discussion Papers 7957, C.E.P.R. Discussion Papers.
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- F50 - International Economics - - International Relations and International Political Economy - - - General
- N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
References
References listed on IDEASPlease 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.:
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Barry Eichengreen, 2011.
"International Policy Coordination: The Long View,"
NBER Working Papers
17665, National Bureau of Economic Research, Inc.
- Barry Eichengreen, 2012. "International Policy Coordination: The Long View," NBER Chapters, in: Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century National Bureau of Economic Research, Inc.
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