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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2009034.
Date of creation: 19 Oct 2009
Date of revision:
Great Depression; Real Business Cycle; Dynamic Stochastic General Equilibrium; Cliometrics;
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), Association Française de Cliométrie (AFC), vol. 5(2), pages 101-119, June.
- Luca Pensieroso, 2010. "Real Business Cycle Models of the Great Depression," Working Papers, Association FranÃ§aise de CliomÃ©trie (AFC) 10-01, Association Française de Cliométrie (AFC).
- 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-2009-12-11 (All new papers)
- NEP-DGE-2009-12-11 (Dynamic General Equilibrium)
- NEP-HIS-2009-12-11 (Business, Economic & Financial History)
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anne DAVISTER-LOGIST).
If references are entirely missing, you can add them using this form.