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More on Hawtrey, Harvard and Chicago

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Abstract

In this paper, I shall discuss in turn: the views of Hawtrey and Friedman on the powers of monetary and fiscal policy, and contrast them with those of Douglas and Director to which Tavlas draws attention; the role of monetary factors in causing and exacerbating the Great Contraction of 1929-1933, and what monetary policy might have accomplished to mitigate it; and the relationship between Douglas' work and that of some of his Chicago colleagues.

Suggested Citation

  • Laidler, D, 1997. "More on Hawtrey, Harvard and Chicago," UWO Department of Economics Working Papers 9711, University of Western Ontario, Department of Economics.
  • Handle: RePEc:uwo:uwowop:9711
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    File URL: https://ir.lib.uwo.ca/cgi/viewcontent.cgi?article=1420&context=economicsresrpt
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    Cited by:

    1. Russell W. Cooper & John Haltiwanger & Jonathan L. Willis, 2010. "Euler-equation estimation for discrete choice models: a capital accumulation application," Research Working Paper RWP 10-04, Federal Reserve Bank of Kansas City.
    2. Sánchez Mangas, Rocío, 2001. "Estimation of a dynamic discrete choice model of irreversible investment," DES - Working Papers. Statistics and Econometrics. WS ws015628, Universidad Carlos III de Madrid. Departamento de Estadística.
    3. Sánchez Mangas, Rocío, 2002. "Another look at the estimation of dynamic programming models with censored decision variables," DES - Working Papers. Statistics and Econometrics. WS ws022404, Universidad Carlos III de Madrid. Departamento de Estadística.
    4. Polder, Michael & Verick, Sher, 2004. "Dynamics of Labour and Capital Adjustment – A Comparison of Germany and the Netherlands," IZA Discussion Papers 1212, Institute of Labor Economics (IZA).
    5. Yaman, F., 2016. "Structural Estimation of Labor Adjustment Costs," Working Papers 15/22, Department of Economics, City University London.
    6. Rosa Papalia, 2003. "Generalized Maximum Entropy Estimation of Dynamic Programming Models with Sample Selection Bias," Computational Statistics, Springer, vol. 18(3), pages 463-475, September.
    7. Graciela Sanromán, 2002. "A Discrete Choice Analysis of the Household Shares of Risky Assets," Documentos de Trabajo (working papers) 0702, Department of Economics - dECON.

    More about this item

    Keywords

    MONETARY POLICY; FISCAL POLICY;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

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