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Comment la croissance américaine aurait-elle réagi à une politique monétaire expansionniste en 1929 ? Les enseignements cliométriques d’une simulation SVAR

  • Claude Diebolt

    (BETA/CNRS et Association Française de Cliométrie)

  • Antoine Parent

    (BETA/CNRS et Association Française de Cliométrie)

  • Jamel Trabelsi

    (BETA/CNRS et Association Française de Cliométrie)

This article deals with the relevancy of expansionary monetary policy in a situation of financial crisis in an historical perspective. We simulate, within a svar framework, the effects of expansionary monetary policy over the period 1929-1933, in the us. We suggest a renewed monetary lesson in order to enrich current monetary policies. Classification JEL : B23 ; E58 ; N12

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Paper provided by Association Française de Cliométrie (AFC) in its series Working Papers with number 11-10.

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Length: 14 pages
Date of creation: 2011
Date of revision:
Handle: RePEc:afc:wpaper:11-10
Contact details of provider: Web page: http://www.cliometrie.org

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  9. Bordo, Michael D. & Choudhri, Ehsan U. & Schwartz, Anna J., 2002. "Was Expansionary Monetary Policy Feasible during the Great Contraction? An Examination of the Gold Standard Constraint," Explorations in Economic History, Elsevier, vol. 39(1), pages 1-28, January.
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  11. Julio J. Rotemberg & Michael Woodford, 1998. "Interest-Rate Rules in an Estimated Sticky Price Model," NBER Working Papers 6618, National Bureau of Economic Research, Inc.
  12. Olivier Blanchard & Giovanni Dell'Ariccia & Paolo Mauro, 2010. "Rethinking Macroeconomic Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 199-215, 09.
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