Monetary factors in the great depression
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Cited by (132)
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Liquidity from two lending facilities
2021, Journal of Financial Intermediation -
Decomposing the U.S. Great Depression: How important were loan supply shocks?
2021, Explorations in Economic HistoryCitation Excerpt :Bernanke (1983) shows that proxies for nonmonetary effects of the banking crises are negatively related to the growth of industrial production. Hamilton (1987) concludes that the banking sector was an important channel for the transmission of monetary policy in the 1930s (see also Hamilton, 1992). Proxies for financial distress and financial crises, such as the deposits and liabilities of failed banks, have also been used to study nonmonetary effects in VAR models (Anari et al., 2005; Chin and Warusawitharana, 2010; Fackler and Parker, 1994).
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Debt and taxes: Fiscal strain and US city budgets during the Great Depression
2020, Explorations in Economic History -
The Ends of 27 Big Depressions
2024, American Economic Review -
Biophysical economic interpretation of the Great Depression: A critical period of an energy transition
2023, Journal of Industrial Ecology -
Measuring inflation expectations in interwar Britain
2023, Economic History Review
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I am most grateful to Ben Bernanke, Charles Engel, Roger Farmer, Allen Meltzer, Ron Michener, and Anna Schwartz for comments on earlier drafts of this paper.
Copyright © 1987 Published by Elsevier B.V.