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The Great Depression(s) of 1929-1933 and 2007-2009? Parallels, Differences and Policy Lessons
Eigner, Peter - 2015
This paper provides a comparative analysis of the Great Depression (1929-1933) and the Great Financial Crisis (2007-2009) by contrasting the crises' main driving forces and how they relate to each other with respect to the United States. To this end, causes, consequences and measures undertaken...
Persistent link: https://www.econbiz.de/10013021968
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The Cyclically Adjusted Budget : History and Exegesis of a Fateful Estimate
Costantini, Orsola - 2017
This paper traces the evolution of the concept of the cyclically adjusted budget from the 1930s to the present. The idea of balancing the budget over the cycle was first conceived in Sweden in the 1930s by the economists of the Stockholm School and was soon reinterpreted and incorporated into...
Persistent link: https://www.econbiz.de/10012970752
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Short-run macro after the crisis : the end of the "new" neoclassical synthesis?
Landmann, Oliver - 2014 - Rev.
The Financial Crisis of 2008, and the Great Recession in its wake, have shaken up macroeconomics. The paradigm of the "New" Neoclassical Synthesis, which seemed to provide a robust framework of analysis for short-run macro not long ago, fails to capture key elements of the recent crisis. This...
Persistent link: https://www.econbiz.de/10010242840
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Goodwin, Baumol & Lewis: how structural change can lead to inequality and stagnation
Rada, Codrina; Schiavone, Ansel; Von Arnim, Rudiger - 2021
cycle in employment rate and labor share, and (ii) a Keynes-Kalecki distributive cycle that adds the incomecapital ratio as … model variants, the adverse effect of structural change on labor productivity leads to stagnation. However, only the Keynes …
Persistent link: https://www.econbiz.de/10012621640
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Stimulating growth amid recession : entrepreneurship, innovation, and the Keynesian revolution
Baumol, William J. - In: Journal of policy modeling : JPMOD ; a social science … 36 (2014) 4, pp. 629-635
Persistent link: https://www.econbiz.de/10010398996
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The role of sentiment in the U.S. economy : 1920 to 1934
Kabiri, Ali; James, Harold; Landon-Lane, John S.; … - 2022
This paper investigates sentiment in the US economy from 1920 to 1934 using digitized articles from the Wall St Journal. We derive a monthly sentiment index and use a ten variable vector error correction model to identify sentiment shocks that are orthogonal to fundamentals. We show the timing...
Persistent link: https://www.econbiz.de/10013168278
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Where Keynes went wrong
Glasner, David - In: Studies in the history of monetary theory : …, (pp. 313-330). 2021
This chapter examines the development of Keynes's monetary thought in the context of Britain's return to the gold … standard (opposed by Keynes) in 1925 and his unsuccessful attempt to develop a theory of macroeconomic fluctuations in his … Treatise on Money. Keynes, who had predicted that rejoining the gold standard at the prewar parity would lead to economic …
Persistent link: https://www.econbiz.de/10012705234
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The role of sentiment in the economy: 1920 to 1934
Kabiri, Ali; James, Harold; Landon-Lane, John S.; … - 2021 - This version: February 2021
Persistent link: https://www.econbiz.de/10012487398
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The role of sentiment in the economy of the 1920s
Kabiri, Ali; James, Harold; Landon-Lane, John S.; … - 2020
John Maynard Keynes composed The General Theory as a response to the Great Crash and Great Depression with all their … Wall St Journal to construct a sentiment series that we use to measure the role of emotion at the time Keynes wrote. An …
Persistent link: https://www.econbiz.de/10012224228
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Sylos Labini's Unpublished Notes on Schumpeter's Business Cycles
Ferlito, Carmelo - 2015
Paolo Sylos Labini (1920-2005) was the one of the most influential economists in Italy after the Second World War. After graduating in 1942, Sylos Labini won a fellowship in the USA. After an initial period in Chicago, he moved to Harvard, where he was able to attend Schumpeter's lectures from...
Persistent link: https://www.econbiz.de/10013015537