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Income distribution and the Great Depression
Belabed, Christian A. - 2015
capitalism, the Great Depression. However, the role of rising income inequality, which has risen dramatically before both crises …, is rarely discussed. In this paper we discuss the rise of top-end inequality and its effects on household consumption … period of interest. We argue that income inequality is linked to the increase of household consumption and the simultaneous …
Persistent link: https://www.econbiz.de/10011289390
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The Great Depression(s) of 1929-1933 and 2007-2009? Parallels, Differences and Policy Lessons
Eigner, Peter - 2015
financial institutions, as well as pronounced economic inequality. Measures taken during each of the crises differed markedly …
Persistent link: https://www.econbiz.de/10013021968
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Liquidity traps and large-scale financial crises
Caggiano, Giovanni; Castelnuovo, Efrem; Damette, Olivier; … - 2018
This paper estimates a nonlinear Threshold-VAR to investigate if a Keynesian liquidity trap due to a speculative motive was in place in the U.S. Great Depression and the recent Great Recession. We find clear evidence in favor of a breakdown of the liquidity effect after an unexpected increase in...
Persistent link: https://www.econbiz.de/10011863616
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Businesses and Borrowing during the Roaring '20s and at the Onset of the Great Depression
Richardson, Gary; Angel, Marco del - National Bureau of Economic Research - 2024
Which firms relied on commercial banks for credit and which firms did not at the onset of the Great Depression would seem to be an important question given the vast literature discussing banking distress in the United States during the 1930s. The question, however, has not been answered. This...
Persistent link: https://www.econbiz.de/10015072860
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The London Monetary and Economic Conference of 1933 and the end of the Great Depression
Edwards, Sebastian - In: Open economies review 28 (2017) 3, pp. 431-459
Persistent link: https://www.econbiz.de/10012126520
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Accelerating into the Abyss : Financial Dependence and the Great Depression
Mladjan, Mrdjan - 2019
This paper gives new evidence for the importance of bank suspensions during the Great Depression. I establish that more financially dependent manufacturing industries exhibited steeper declines in output relative to peers. This differential is largest in states that were most affected by banking...
Persistent link: https://www.econbiz.de/10012905100
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Treatment of the Banking Holiday of March 1933 in Growth Regressions
Mladjan, Mrdjan - 2019
Government intervention during the banking holiday of March 1933 resolved the uncertainty usually created by bank suspensions. Including banking holiday suspensions in growth regressions therefore biases downwards the estimates of the real effects of bank suspensions. In this paper, I propose a...
Persistent link: https://www.econbiz.de/10012865724
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Previous financial crises leading to stagnation : selected case studies
Dodig, Nina; Herr, Hansjörg - 2014
This paper analyses several severe financial crises observed in the history of capitalism which led to a longer period of stagnation or low growth. Comparative case studies of the Great Depression, the Latin American debt crisis of the 1980s and the Japanese crisis of the 1990s and 2000s are...
Persistent link: https://www.econbiz.de/10010242870
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What ended the Great Depression? : re-evaluating the role of fiscal policy
Perry, Nathan; Vernengo, Matías - In: Cambridge journal of economics 38 (2014) 2, pp. 349-367
Persistent link: https://www.econbiz.de/10010401603
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Die Große Depression, der New Deal, ihre Bewertung durch den Mainstream und die Krise Europas
Schulmeister, Stephan - In: Für eine bessere gesamteuropäische Wirtschaftspolitik, (pp. 161-202). 2015
Persistent link: https://www.econbiz.de/10010480947