The Great Depression in Belgium from a Neoclassical Perspective

This article casts the Belgian Great Depression of the 1930s within a dynamic stochastic general equilibrium (DSGE) framework. The results show that a DSGE model with total factor productivity and monetary shocks, coupled with sticky nominal wages a la Taylor is able to account reasonably well for most of the data on the Depression, but it overestimates real wages. (Copyright: Elsevier)

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Year of publication:	2011
Authors:	Pensieroso, Luca
Published in:	Review of Economic Dynamics. - Society for Economic Dynamics - SED. - Vol. 14.2011, 2, p. 389-402
Publisher:	Society for Economic Dynamics - SED
Subject:	Great Depression \| Belgium \| Sticky wages \| Dynamic stochastic general equilibrium

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Type of publication:	Article
Notes:	Published
Other identifiers:	10.1016/j.red.2010.10.004 [DOI]
Classification:	E13 - Neoclassical ; N14 - Europe: 1913-
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008670384