In their introduction to the special issue of the Review of Economic Dynamics on Great Depressions of the 20th Century (Vol. 5, 2002), Timothy J. Kehoe and Edward C. Prescott argue that in the last few years great depressions have hit two rich countries: New Zealand and Switzerland. We briefly...

In their introduction to the special issue of the Review of Economic Dynamics on "Great Depressions of the 20th Century" (Vol. 5, 2002), Timothy J. Kehoe and Edward C. Prescott argue that in the last few years "great depressions" have hit two rich countries: New Zealand and Switzerland. We...