| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15061 |
| DP15061 The Ends of 30 Big Depressions | |
| Martin Ellison; Sang Seok Lee; Kevin O'Rourke | |
| 发表日期 | 2020-07-18 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | How did countries recover from the Great Depression? In this paper we explore the argument that leaving the gold standard helped by boosting inflationary expectations and lowering real interest rates. We do so for a sample of 30 countries, using modern nowcasting methods and a new dataset containing more than 230,000 monthly and quarterly observations for over 1,500 variables. In those cases where the departure from gold happened on clearly defined dates, it seems clear that inflationary expectations rose in the wake of departure. IV regressions and synthetic matching techniques suggest that the relationship is causal. |
| 主题 | Economic History ; International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| 关键词 | Gold standard Great depression Inflationary expectations |
| URL | https://cepr.org/publications/dp15061-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544015 |
| 推荐引用方式 GB/T 7714 | Martin Ellison,Sang Seok Lee,Kevin O'Rourke. DP15061 The Ends of 30 Big Depressions. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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