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Lessons from the 1930s Great Depression
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Crafts, N. F. R. and Fearon, Peter (2010) Lessons from the 1930s Great Depression. Oxford Review of Economic Policy, Vol.26 (No.3). pp. 285-317. doi:10.1093/oxrep/grq030 ISSN 0266-903X.
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Official URL: http://dx.doi.org/10.1093/oxrep/grq030
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 for today from the Great Depression are discussed, as are some implications for macroeconomics.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HC Economic History and Conditions | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Journal or Publication Title: | Oxford Review of Economic Policy | ||||
Publisher: | Oxford University Press | ||||
ISSN: | 0266-903X | ||||
Official Date: | 2010 | ||||
Dates: |
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Volume: | Vol.26 | ||||
Number: | No.3 | ||||
Number of Pages: | 33 | ||||
Page Range: | pp. 285-317 | ||||
DOI: | 10.1093/oxrep/grq030 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access | ||||
Version or Related Resource: | A working paper version appears in WRAP (http://wrap.warwick.ac.uk/44713/). | ||||
Related URLs: |
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