A Small Open Economy In Depression
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| Author | : Caroline M. Betts |
| Publisher | : Department of Economics, University of British Columbia |
| Total Pages | : 78 |
| Release | : 1993 |
| Genre | : Canada |
| ISBN | : |
This paper tests the hypothesis that idiosyncratic U.S. disturbances and their international propagation can account for the global Depression. Exploiting common stochastic trends in U.S. and Canadian interwar data, we estimate a small open economy model for Canada that decomposes output fluctuations into sources identifiable with world and country-specific disturbances. We find that the onset, depth and duration of output collapse in both Canada and the U.S. are primarily attributable to a common, permanent output shock leaving little significant role for idiosyncratic disturbances originating in either economy.
| Author | : Angela Redish |
| Publisher | : |
| Total Pages | : |
| Release | : 1996 |
| Genre | : |
| ISBN | : |
This paper tests the hypothesis that idiosyncratic U.S. disturbances and their international propagation can account for the global Depression. Exploiting common stochastic trends in U.S. and Canadian interwar data, we estimate a small open economy model for Canada that decomposes output fluctuations into sources identifiable with world and country-specific disturbances. We find that the onset, depth and duration of output collapse in both Canada and the U.S. are primarily attributable to a common, permanent output shock leaving little significant role for idiosyncratic disturbances originating in either economy
| Author | : Peter Rosenkranz |
| Publisher | : |
| Total Pages | : 44 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
| Author | : Benjamin Roth |
| Publisher | : PublicAffairs |
| Total Pages | : 289 |
| Release | : 2009-07-22 |
| Genre | : History |
| ISBN | : 1586488376 |
When the stock market crashed in 1929, Benjamin Roth was a young lawyer in Youngstown, Ohio. After he began to grasp the magnitude of what had happened to American economic life, he decided to set down his impressions in his diary. This collection of those entries reveals another side of the Great Depression—one lived through by ordinary, middle-class Americans, who on a daily basis grappled with a swiftly changing economy coupled with anxiety about the unknown future. Roth's depiction of life in time of widespread foreclosures, a schizophrenic stock market, political unrest and mass unemployment seem to speak directly to readers today.
| Author | : Charles Poor Kindleberger |
| Publisher | : Univ of California Press |
| Total Pages | : 392 |
| Release | : 1986 |
| Genre | : Business & Economics |
| ISBN | : 9780520055919 |
"The World in Depression is the best book on the subject, and the subject, in turn, is the economically decisive decade of the century so far."--John Kenneth Galbraith
| Author | : Alan G. Green |
| Publisher | : |
| Total Pages | : 28 |
| Release | : 1985 |
| Genre | : Canada |
| ISBN | : 9780867846904 |
| Author | : James Rickards |
| Publisher | : Penguin |
| Total Pages | : 210 |
| Release | : 2021-01-12 |
| Genre | : Business & Economics |
| ISBN | : 0593330277 |
A Wall Street Journal and National Bestseller! The man who predicted the worst economic crisis in US history shows you how to survive it. The current crisis is not like 2008 or even 1929. The New Depression that has emerged from the COVID pandemic is the worst economic crisis in U.S. history. Most fired employees will remain redundant. Bankruptcies will be common, and banks will buckle under the weight of bad debts. Deflation, debt, and demography will wreck any chance of recovery, and social disorder will follow closely on the heels of market chaos. The happy talk from Wall Street and the White House is an illusion. The worst is yet to come. But for knowledgeable investors, all hope is not lost. In The New Great Depression, James Rickards, New York Times bestselling author of Aftermath and The New Case for Gold, pulls back the curtain to reveal the true risks to our financial system and what savvy investors can do to survive -- even prosper -- during a time of unrivaled turbulence. Drawing on historical case studies, monetary theory, and behind-the-scenes access to the halls of power, Rickards shines a clarifying light on the events taking place, so investors understand what's really happening and what they can do about it. A must-read for any fans of Rickards and for investors everywhere who want to understand how to preserve their wealth during the worst economic crisis in US history.
| Author | : |
| Publisher | : GRIN Verlag |
| Total Pages | : 19 |
| Release | : 2017-02-07 |
| Genre | : Social Science |
| ISBN | : 3668393443 |
Seminar paper from the year 2016 in the subject Business economics - Economic and Social History, grade: 5, University of Zurich, language: English, abstract: In this paper, we apply an empirical analysis to provide an answer to the Bullionist Controversy in Great Britain in the 18th century adopted to the Netherlands in the Great Depression. Therefore, we answer the question whether the price evolution in this period has been mostly driven by demand or supply shocks and whether remaining in the gold standard was a good decision for the economic development or not. For our analysis we estimated a vector autoregressive model (VAR) and applied the Blanchard-Quah decomposition to identify the demand and supply shocks on the output growth and inflation. Therefore, we use an impulse response and a Forecast Error Variance Decomposition to illustrate our results. We argue in this paper that the impact of the Great Depression on the economy of the Netherlands has been bigger because it stayed part of the Gold Bloc and therefore maintain convertibility. Thus, we bring forward the argument of the bullionist that the price shock has been a result of a demand shock. he gold standard as a consequence has led to an overvaluation of the Dutch currency (guilder). For a small open economy like the Netherlands which is highly dependent of exports and has a big shipping sector the exchange rate plays a crucial role. Thus, the overvaluation resulted in a negative demand shock. Furthermore the persistent deflation and downward pressure on wages have led to even higher deflation expectations of the population, what dampened the aggregate supply. Finally, the policy decisions of the government were incapable to reduce the problem and get out of the depression. Only after the suspension of the convertibility to the gold standard and a devaluation of the currency the economy was able to recover. For this reason an earlier suspension would have had reduced the length and the intensity of the Great Depression for the economy of the Netherlands.
| Author | : Robert J. Shiller |
| Publisher | : Princeton University Press |
| Total Pages | : 408 |
| Release | : 2020-09-01 |
| Genre | : Business & Economics |
| ISBN | : 0691212074 |
From Nobel Prize–winning economist and New York Times bestselling author Robert Shiller, a groundbreaking account of how stories help drive economic events—and why financial panics can spread like epidemic viruses Stories people tell—about financial confidence or panic, housing booms, or Bitcoin—can go viral and powerfully affect economies, but such narratives have traditionally been ignored in economics and finance because they seem anecdotal and unscientific. In this groundbreaking book, Robert Shiller explains why we ignore these stories at our peril—and how we can begin to take them seriously. Using a rich array of examples and data, Shiller argues that studying popular stories that influence individual and collective economic behavior—what he calls "narrative economics"—may vastly improve our ability to predict, prepare for, and lessen the damage of financial crises and other major economic events. The result is nothing less than a new way to think about the economy, economic change, and economics. In a new preface, Shiller reflects on some of the challenges facing narrative economics, discusses the connection between disease epidemics and economic epidemics, and suggests why epidemiology may hold lessons for fighting economic contagions.
| Author | : Peter Temin |
| Publisher | : MIT Press |
| Total Pages | : 220 |
| Release | : 1991-10-08 |
| Genre | : Business & Economics |
| ISBN | : 9780262261197 |
Lessons from the Great Depression provides an integrated view of the depression, covering the experience in Britain, France, Germany, and the United States. Do events of the 1930s carry a message for the 1990s? Lessons from the Great Depression provides an integrated view of the depression, covering the experience in Britain, France, Germany, and the United States. It describes the causes of the depression, why it was so widespread and prolonged, and what brought about eventual recovery. Peter Temin also finds parallels in recent history, in the relentless deflationary course followed by the U.S. Federal Reserve Board and the British government in the early 1980s, and in the dogged adherence by the Reagan administration to policies generated by a discredited economic theory—supply-side economics.
