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Lecciones de la Gran Depresión para la recuperación económica en 2009

Author

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  • Christina D. Romer

    (Consejo de asesores económicos del Presidente Barack Obama)

Abstract

This article compares the Great Depression of the thirties with the current global crisis and offers some useful lessons for designing policies to overcome the crisis and begin a strong recovery. One of the lessons is that a small fiscal expansion has only small effects and that a monetary expansion may help to stabilize the economy even if interest rates are near to zero. In addition, policymakers should avoid reducing the incentives early and should consider that the financial and the real recovery go together

Suggested Citation

  • Christina D. Romer, 2009. "Lecciones de la Gran Depresión para la recuperación económica en 2009," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 11(21), pages 25-35, July-Dece.
  • Handle: RePEc:rei:ecoins:v:11:y:2009:i:21:p:25-35
    as

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/cromer21.pdf
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    References listed on IDEAS

    as
    1. Christina D. Romer, 1990. "The Great Crash and the Onset of the Great Depression," The Quarterly Journal of Economics, Oxford University Press, vol. 105(3), pages 597-624.
    2. 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 257-276, June.
    3. Romer, Christina D., 1992. "What Ended the Great Depression?," The Journal of Economic History, Cambridge University Press, vol. 52(04), pages 757-784, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    economic crises; Great Depression;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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