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A critique of Powell, Woods, and Murphy on the 1920–1921 depression

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  • Daniel Kuehn

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  • Daniel Kuehn, 2011. "A critique of Powell, Woods, and Murphy on the 1920–1921 depression," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(3), pages 273-291, September.
    • Handle: RePEc:kap:revaec:v:24:y:2011:i:3:p:273-291
    DOI: 10.1007/s11138-010-0131-3
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    References listed on IDEAS

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    1. Romer, Christina D., 1988. "World War I and the postwar depression A reinterpretation based on alternative estimates of GNP," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 91-115, July.
    2. J. Bradford De Long, "undated". "`Liquidation' Cycles: Old-Fashioned Real Business Cycle Theory and the Great Depression," J. Bradford De Long's Working Papers _135, University of California at Berkeley, Economics Department.
    3. Mauro Boianovsky, 2004. "The IS-LM Model and the Liquidity Trap Concept: From Hicks to Krugman," History of Political Economy, Duke University Press, vol. 36(5), pages 92-126, Supplemen.
    4. Howson, Susan, 1973. ""A Dear Money Man"?: Keynes on Monetary Policy, 1920," Economic Journal, Royal Economic Society, vol. 83(330), pages 456-464, June.
    5. Broadberry, S N, 1986. "Aggregate Supply in Interwar Britain," Economic Journal, Royal Economic Society, vol. 96(382), pages 467-481, June.
    6. Lawrence H. White, 2008. "Did Hayek and Robbins Deepen the Great Depression?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 751-768, June.
    7. William Butos, 2003. "Knowledge Questions: Hayek, Keynes and Beyond," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 16(4), pages 291-307, December.
    8. Peter Temin, 1998. "Causes of American business cycles: an essay in economic historiography," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 42(Jun), pages 37-64.
    9. J. M. Keynes, 1997. "The General Theory of Employment," Voprosy Ekonomiki, NP Voprosy Ekonomiki, vol. 5.
    10. Cagan, Phillip & Gandolfi, Arthur, 1969. "The Lag in Monetary Policy as Implied by the Time Pattern of Monetary Effects on Interest Rates," American Economic Review, American Economic Association, vol. 59(2), pages 277-284, May.
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    Cited by:

    1. Patrick Newman, 2016. "The depression of 1920–1921: a credit induced boom and a market based recovery?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 29(4), pages 387-414, December.

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    More about this item

    Keywords

    Macroeconomics; Economic history; Keynesianism; Austrian School; Monetary policy; Fiscal policy; B53; E12; E31; E32; E58; E62; N12;
    All these keywords.

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-

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