This paper compares the depth of the recent crisis and the Great Depression. We use a new data set, namely seven activity indicators, to compare the drop in activity in industrialised countries. This is done under the assumption that the recent crisis levelled off in mid-2009 for production and...

This paper compares the depth of the Recent Crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the Recent Crisis leveled off in mid-2009 for production and...

"We focus on two international aspects of the Great Depression-financial crises and international trade- and try to discern lessons for the current economic crisis. Both downturns featured global banking crises which were generated by boom-slump macroeconomic cycles. During both crises, world...