Crafts, N. F. R. and Fearon, Peter (2010) Lessons from the 1930s Great Depression. Working Paper. Coventry: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2010 (Number 23).

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Abstract

This paper provides a survey of the Great Depression comprising both a narrative account and a detailed review of the empirical evidence focusing especially on the experience of the United States. We examine the reasons for and flawed resolution of the American banking crisis as well as the conduct of fiscal and monetary policy. We also consider the pivotal role of the gold standard in the international transmission of the slump and leaving gold as a route to recovery. Policy lessons from the Great Depression for today are discussed as are some implications for macroeconomics.

Item Type:	Working or Discussion Paper (Working Paper)
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions
Divisions:	Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH):	Depressions -- 1929 -- United States, Stock Market Crash, 1929, Financial crises, United States -- Economic conditions -- 1918-1945, Gold standard -- United States
Series Name:	CAGE Online Working Paper Series
Publisher:	Department of Economics, University of Warwick
Place of Publication:	Coventry
Official Date:	September 2010
Dates:	Date Event September 2010 Published
Volume:	Volume 2010
Number:	Number 23
Number of Pages:	59
Institution:	University of Warwick
Status:	Not Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Open Access
Related URLs:	Related item in WRAP

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