IDEAS home Printed from https://ideas.repec.org/a/ris/actuec/v60y1984i3p280-307.html
   My bibliography  Save this article

La Grande dépression américaine et la neutralité de la monnaie : un test économétrique

Author

Listed:
  • Racette, Daniel

    (École des Hautes Études Commerciales, Montréal)

  • Bergeron, Pierre

    (Énergie, Mines et Ressources Canada)

Abstract

In this paper, the neutrality hypothesis is tested for the U.S. Great Depression. Neutrality is generally rejected by the data even when banking failures are excluded from the available information set in generating the anticipated rate of growth of money series. Hence our results are contrary to those of Barro (1977, 1978) and Barro and Rush (1980) for the Post War years. They confirm those of Mishkin (1982). Dans ce texte, nous utilisons des données de la période de l’entre-deux-guerres aux États-Unis pour vérifier l’hypothèse de la neutralité de la monnaie. Dans l’ensemble, nos résultats démontrent que l’hypothèse de la neutralité est rejetée par les données même dans le cas où l’on élimine la variable de faillites bancaires du domaine de l’information disponible dans l’équation d’anticipation de la monnaie. Ces résultats vont donc à l’encontre de ceux obtenus pour l’après-guerre par Barro (1977, 1978) et Barro et Rush (1980) mais vont dans le sens de ceux de Mishkin (1982).

Suggested Citation

  • Racette, Daniel & Bergeron, Pierre, 1984. "La Grande dépression américaine et la neutralité de la monnaie : un test économétrique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 60(3), pages 280-307, septembre.
    • Handle: RePEc:ris:actuec:v:60:y:1984:i:3:p:280-307
    as

    Download full text from publisher

    File URL: http://id.erudit.org/iderudit/601297ar
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:actuec:v:60:y:1984:i:3:p:280-307. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Benoit Dostie (email available below). General contact details of provider: https://edirc.repec.org/data/scseeea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.