This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Real Business Cycle Models of the Great Depression : a Critical Survey Author info | Abstract | Publisher info | Download info | Related research | Statistics Luca, PENSIEROSO () (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))
Additional information is available for the following
registered author(s):
Recent years have witnessed a revival of interest in the Great Depression of the 1930s. Among the differing new interpretations, that of the real business cycle (RBC) is particularly significant. It represents an outstanding methodological innovation in trying to cast the Great Depression within an “equilibrium” framework. This paper critically reiews the RBC interpretation of the Great Depression, clarifying its theoretical and methodological foundations, and paving the way for future assessments of its validity.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Paper provided by Université catholique de Louvain, Département des Sciences Economiques in its series Université catholique de Louvain, Département des Sciences Economiques Working Paper with number
2005005.
Download reference. The following formats are available: HTML ,
plain text ,
BibTeX ,
RIS (EndNote),
ReDIF
Length: 42
Date of creation: 09 Feb 2005Date of revision:
Handle: RePEc:ctl:louvec:2005005Contact details of provider: Postal: Place Montesquieu 3, 1348 Louvain-la-Neuve (Belgium) Fax: +32 10473945 Email: Web page: http://www.uclouvain.be/econ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Maryvonne NEYTS).
Keywords: Great Depression Real Business Cycle Theory Other versions of this item:
Find related papers by JEL classification: B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics N12 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - U.S.; Canada: 1913-
This paper has been announced in the following NEP Reports :
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.: George W. Stadler, 1994.
"Real Business Cycles ,"
Journal of Economic Literature ,
American Economic Association, vol. 32(4), pages 1750-1783, December.
[Downloadable!] (restricted)
John B. Taylor, 1980.
"Aggregate Dynamics and Staggered Contracts ,"
NBER Reprints
0126, National Bureau of Economic Research, Inc.
Other versions: Edward C. Prescott, 1998.
"Business cycle research: methods and problems ,"
Working Papers
590, Federal Reserve Bank of Minneapolis.
[Downloadable!]
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: Plosser, Charles I, 1989.
"Understanding Real Business Cycles ,"
Journal of Economic Perspectives ,
American Economic Association, vol. 3(3), pages 51-77, Summer.
[Downloadable!] (restricted)
Other versions:
Plosser, C.I., 1989.
"Understanding Real Business Cycles ,"
Papers
89-03, Rochester, Business - General.
Plosser, C.I., 1989.
"Understanding Real Business Cycles ,"
RCER Working Papers
198, University of Rochester - Center for Economic Research (RCER).
Charles I. Plosser, 1990.
"Understanding Real Business Cycles ,"
NBER Reprints
1416, National Bureau of Economic Research, Inc.
Lawrence J. Christiano & Roberto Motto, 2004.
"The Great Depression and the Friedman-Schwartz Hypothesis ,"
Computing in Economics and Finance 2004
169, Society for Computational Economics.
[Downloadable!]
Harold L. Cole and Lee E. Ohanian, 2004.
"New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis ,"
Journal of Political Economy ,
University of Chicago Press, vol. 112(4), pages 779-816, August.
Other versions: Ben S. Bernanke & Kevin Carey, 1996.
"Nominal Wage Stickiness and Aggregate Supply in the Great Depression ,"
NBER Working Papers
5439, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Timothy J. Kehoe & Edward C. Prescott, 2002.
"Great Depressions of the Twentieth Century ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 5(1), pages 1-18, January.
[Downloadable!] (restricted)
Other versions: Pedro Amaral & James C. MacGee, 2002.
"The Great Depression in Canada and the United States: A Neoclassical Perspective ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 5(1), pages 45-72, January.
[Downloadable!] (restricted)
Other versions: Romer, Christina D, 1993.
"The Nation in Depression ,"
Journal of Economic Perspectives ,
American Economic Association, vol. 7(2), pages 19-39, Spring.
[Downloadable!] (restricted)
Fabrizio Perri & Vincenzo Quadrini, 2002.
"The Great Depression in Italy: Trade Restrictions and Real Wage Rigidities ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 5(1), pages 128-151, January.
[Downloadable!] (restricted)
Other versions: Ron Leung & Harold L. Cole & Lee E. Ohanian, 2004.
"Deflation, Real Wages, and the International Great Depression: A Productivity Puzzle ,"
Econometric Society 2004 North American Winter Meetings
75, Econometric Society.
Lawrence Christiano & Roberto Motto & Massimo Rostagno, 2004.
"The great depression and the Friedman-Schwartz hypothesis ,"
Working Paper Series
326, European Central Bank.
[Downloadable!]
Bernanke, Ben S, 1983.
"Nonmonetary Effects of the Financial Crisis in Propagation of the Great Depression ,"
American Economic Review ,
American Economic Association, vol. 73(3), pages 257-76, June.
[Downloadable!] (restricted)
Other versions: Harold L. Cole & Lee E. Ohanian, 2000.
"Re-examining the contributions of money and banking shocks to the U.S. Great Depression ,"
Staff Report
270, Federal Reserve Bank of Minneapolis.
[Downloadable!]
Hartley, James E & Hoover, Kevin D & Salyer, Kevin D, 1997.
"The Limits of Business Cycle Research: Assessing the Real Business Cycle Model ,"
Oxford Review of Economic Policy ,
Oxford University Press, vol. 13(3), pages 34-54, Autumn.
Lawrence J. Christiano & Roberto Motto & Massimo Rostagno, 2003.
"The Great Depression and the Friedman-Schwartz hypothesis ,"
Proceedings ,
Federal Reserve Bank of Cleveland, pages 1119-1215.
Other versions: M. Weder, .
"The Great Demand Depression ,"
Sonderforschungsbereich 373
2001-53, Humboldt Universitaet Berlin.
Other versions: 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:
Michael D. Bordo & Christopher J. Erceg & Charles L. Evans, 1997.
"Money, sticky wages, and the great depression ,"
International Finance Discussion Papers
591, Board of Governors of the Federal Reserve System (U.S.).
[Downloadable!] Michael D. Bordo & Christopher J. Erceg & Charles N. Evans, 1997.
"Money, Sticky Wages, and the Great Depression ,"
NBER Working Papers
6071, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Michael D. Bordo & Christopher J. Erceg & Charles L. Evans, 1997.
"Money, sticky wages, and the Great Depression ,"
Working Paper Series, Macroeconomic Issues
WP-97-2, Federal Reserve Bank of Chicago.
[Downloadable!] Edward C. Prescott, 1999.
"Some observations on the Great Depression ,"
Quarterly Review ,
Federal Reserve Bank of Minneapolis, issue Win, pages 25-29.
[Downloadable!]
N. Gregory Mankiw, 1989.
"Real Business Cycles: A New Keynesian Perspective ,"
NBER Working Papers
2882, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Lee E. Ohanian, 2002.
"Why did productivity fall so much during the Great Depression? ,"
Quarterly Review ,
Federal Reserve Bank of Minneapolis, issue Spr.
[Downloadable!]
Other versions: Bernanke, Ben S, 1995.
"The Macroeconomics of the Great Depression: A Comparative Approach ,"
Journal of Money, Credit and Banking ,
Blackwell Publishing, vol. 27(1), pages 1-28, February.
[Downloadable!] (restricted)
Other versions: 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!]
Marvin Goodfriend & Robert G. King, 1998.
"The new neoclassical synthesis and the role of monetary policy ,"
Working Paper
98-05, Federal Reserve Bank of Richmond.
[Downloadable!]
Harold L. Cole & Lee E. Ohanian, 2002.
"The Great U.K. Depression: A Puzzle and Possible Resolution ,"
Review of Economic Dynamics ,
Elsevier for the Society for Economic Dynamics, vol. 5(1), pages 19-44, January.
[Downloadable!] (restricted)
Other versions: Calvo, Guillermo A., 1983.
"Staggered prices in a utility-maximizing framework ,"
Journal of Monetary Economics ,
Elsevier, vol. 12(3), pages 383-398, September.
[Downloadable!] (restricted)
Lucas, Robert E, Jr & Rapping, Leonard A, 1969.
"Real Wages, Employment, and Inflation ,"
Journal of Political Economy ,
University of Chicago Press, vol. 77(5), pages 721-54, Sept./Oct.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , 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.)
Michel De Vroey & Luca Pensieroso, 2006.
"Real Business Cycle Theory and the Great Depression: The Abandonment of the Abstentionist Viewpoint ,"
Contributions to Macroeconomics ,
Berkeley Electronic Press, vol. 6(1), pages 1403-1403.
[Downloadable!] (restricted)
Other versions: Brian Snowdon, 2007.
"The New Classical Counter-Revolution: False Path or Illuminating Complement? ,"
Eastern Economic Journal ,
Eastern Economic Association, vol. 33(4), pages 541-562, Fall.
[Downloadable!]
Access and
download statistics Did you know? RePEc encourages publishers to make their bibliographic data freely available to the public.
This page was last updated on 2008-8-24.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .