We examine the impact of the Great Depression on the share of votes for right- wing anti-system parties in elections in the 1920s and 1930s.We confirm the existence of a link between political extremism and economic hard times as captured by growth or contraction of the economy.What mattered was...

We derive monthly and quarterly series of UK GDP for the inter-war period from a set of monthly indicators that were constructed by The Economist at the time. The monthly information is complemented with data for quarterly industrial production, allowing us to employ mixed-frequency methods to...

Interwar macroeconomic history is a natural place to look for evidence on the correlation between output growth and inflation or unexpected inflation. We apply time-series methods to measure unexpected inflation for more than twenty countries using both retail and wholesale prices. There is a...

We examine the impact of the Great Depression on the share of votes for right-wing anti-system parties in elections in the 1920s and 1930s. We confirm the existence of a link between political extremism and economic hard times as captured by growth or contraction of the economy. What mattered...

The Great Depression of the 1930s and the Great Credit Crisis of the 2000s had similar causes but elicited strikingly different policy responses. It may still be too early to assess the effectiveness of current policy responses, but it is possible to analyze monetary and fiscal policies in the...

This paper presents and assesses the recent application of models in the Real Business Cycle (RBC) tradition to the analysis of the Great Depression of the 1930s. The main conclusion is that the breaking of the depression taboo has been a desirable completion of the cliometric revolution: no...

This paper analyzes the ongoing international macroeconomic crisis and compares it with the Great Depression of the 1930s. It also discusses whether the government’s financial support program will be enough as to ensure the return to economic normality after the crisis is contained. The paper...

Interwar macroeconomic history is a natural place to look for evidence on the correlations between (a) deflation and depression and (b) unexpected deflation and depression. We apply time-series methods to measure unexpected deflation or inflation for 26 countries from 1922 to 1939. The results...

This paper investigates the dynamics of income distribution, private debt, and aggregate demand in the United States in the era before the Great Depression. Based on a post-Keynesian model, I estimate the effects of the wage share and private debt on aggregate demand for private domestic output....

This paper surveys the evolution of international capital mobility since the late-nineteenth century. It begins with an overview of empirical evidence on the fall and rise of integration in the global capital market. A discussion of institutional developments focuses on the use of capital...