| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27586 |
| 来源ID | Working Paper 27586 |
| The Ends of 30 Big Depressions | |
| Martin Ellison; Sang Seok Lee; Kevin Hjortshøj O'; Rourke | |
| 发表日期 | 2020-07-27 |
| 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, a finding that is supported by DSGE model-based counterfactuals as well. |
| 主题 | International Economics ; International Finance ; History ; Macroeconomic History |
| URL | https://www.nber.org/papers/w27586 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585257 |
| 推荐引用方式 GB/T 7714 | Martin Ellison,Sang Seok Lee,Kevin Hjortshøj O',et al. The Ends of 30 Big Depressions. 2020. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w27586.pdf（3643KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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