Eichengreen, Barry; Wyplosz, Charles - C.E.P.R. Discussion Papers - 1986
this period emphasize the undervaluation of the Franc Poincare of 1926 and the attendant export-led recovery. The … onslaught of the Great Depression and identify investment as the proximate driving force. We also claim that fiscal policy … played a major role explaining simultaneously the undervaluation of the franc and the investment boom. The paper presents a …