The United States and Argentina both experienced severe financial crises in the early 1890s. The causes of these crises have been studied in depth. Here, I analyze the recoveries from these crises, comparing the factors that propelled or hindered renewed economic growth, focusing on how changes...

The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed. This paper develops a model of the Chinese economy using a DSGE framework with a banking sector to shed light on this episode. It differs from other applications in the use of...

Was the collapse of world trade between 1928 and 1937 caused by higher transport costs, increased protectionism or the collapse of the gold standard? Using recent advances in the estimation of gravity equations, I examine the partial and general equilibrium effects of bilateral distance,...