Transmission of the Great Depression
To a first approximation, the question of how the Great Depression spread from country to country is short and straightforward: fixed exchange rates under the gold standard transmitted negative demand shocks. The first half of this paper will describe current thinking about the relationship between the gold standard and the Great Depression. The second half of the paper will look at a phenomenon not included in this first approximation: financial crises. Many have noted that banking panics and currency crises are bad for national economies, but few have tried to model their international spread.
Volume (Year): 7 (1993)
Issue (Month): 2 (Spring)
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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.:
- Barry Eichengreen, 1992.
"Golden Fetters: The Gold Standard and the Great Depression, 1919-1939,"
National Bureau of Economic Research, Inc, number eich92-1, September.
- Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133, December.
- Hamilton, James D., 1987. "Monetary factors in the great depression," Journal of Monetary Economics, Elsevier, vol. 19(2), pages 145-169, March.
- Barry J. Eichengreen & Jeffrey Sachs, 1984.
"Exchange Rates and Economic Recovery in the 1930s,"
NBER Working Papers
1498, National Bureau of Economic Research, Inc.
- Garber, Peter M. & Grilli, Vittorio U., 1989.
"Bank runs in open economies and the international transmission of panics,"
Journal of International Economics,
Elsevier, vol. 27(1-2), pages 165-175, August.
- Peter M. Garber & Vittorio U. Grilli, 1988. "Bank Runs in Open Economies and The International Transmission of Panics," NBER Working Papers 2764, National Bureau of Economic Research, Inc.
- Garber, P.M. & Grilli, V.U., 1988. "Bank Runs In Open Economies And The International Transmission Of Panics," RCER Working Papers 122, University of Rochester - Center for Economic Research (RCER).
- Garber, P.M. & Grilli, V., 1988. "Bank Runs In Open Economies And The International Transmission Of Panics," Papers 552, Yale - Economic Growth Center.
- Field, Alexander J., 1984. "A New Interpretation of the Onset of the Great Depression," The Journal of Economic History, Cambridge University Press, vol. 44(02), pages 489-498, June.
- Campa, José Manuel, 1990. "Exchange Rates and Economic Recovery in the 1930s: An Extension to Lation America," The Journal of Economic History, Cambridge University Press, vol. 50(03), pages 677-682, September.
- Eichengreen, Barry & Sachs, Jeffrey, 1986. "Competitive devaluation and the Great Depression : A theoretical reassessment," Economics Letters, Elsevier, vol. 22(1), pages 67-71.
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