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Some observations on the Great Depression [PDF]
The Great Depression in the United States was largely the result of changes in economic institutions that lowered the normal or steady-state market hours per person over 16. The difference in steady-state hours in 1929 and 1939 is over 20 percent.
Edward C. Prescott
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Financial Intermediation and The Great Depression: A Multiple Equilibrium Interpretation
, 1995 Russell Cooper, João Ejarque
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Monetary explanations of the Great Depression: a selective survey of empirical evidence [PDF]
Seventy years after the Great Depression, economists still debate the causes of this economic catastrophe. Two leading explanations are distinguished by whether or not the Federal Reserve’s monetary policies are perceived as being chiefly responsible for
Ellis W. Tallman +2 more
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On the aggregate welfare cost of Great Depression unemployment [PDF]
The potential benefit of policies that eliminate a small likelihood of economic crises is calculated. An economic crisis is defined as an increase in unemployment of the magnitude observed during the Great Depression. For the U.S., the maximum-likelihood
Dean Corbae, Satyajit Chatterjee
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Did Korekiyo Takahashi Rescue Japan from the Great Depression? [PDF]
Korekiyo Takahashi is remembered as a wise finance minister saving Japan from the Great Depression, but the role of his policy remains to be rigorously measured, with proper control for other forces also driving the recovery.
Cha, Myung Soo
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Inbreeding depression along a life‐history continuum in the great tit [PDF]
, 2007 Marta Szulkin +3 more
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Financial Fragility and the Great Depression [PDF]
We analyze a financial collapse, such as the one which occurred during the Great Depression, from the perspective of a monetary model with multiple equilibria. The economy we consider contains financial fragility due to increasing returns to scale in the
Dean Corbae, Russell Cooper
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