Cover image for The economics of the great depression
Title:
The economics of the great depression
Author:
Wheeler, Mark, 1956-
Publication Information:
Kalamazoo, Mich. : W.E. Upjohn Institute for Employment Research, [1998]

©1998
Physical Description:
iii, 213 pages : illustrations ; 23 cm
General Note:
"Developed from lectures given at Western Michigan University as part of the 1996-1997 lecture series"--P. 6.
Language:
English
Contents:
Labor and labor markets in the 1930s / Uneven impacts of the Great Depression : industries, regions, and nations / Great Depression as a historical problem / Propagation of the Depression : theories and evidence / Monetary policy in the Great Depression and beyond : the sources of the Fed's inflation bias / Understanding the Great Depression : lessons for current policy
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ISBN:
9780880991926

9780880991919
Format :
Book

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Call Number
Material Type
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Status
Central Library HC106.3 .E18 1998 Adult Non-Fiction Central Closed Stacks
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Reviews 2

Choice Review

This interesting collection contains six essays dealing with the causes and consequences of the Great Depression. Relying mainly on microeconomic analysis, Robert Margo examines labor market effects of the Depression, including the bias of work-relief legislation and its influence on the labor supply and different measures of unemployment. From an international perspective, Carol Heim shows the highly uneven effects of the Depression on different industries and regions, especially in the US and UK. Michael Bernstein explores conflicting views concerning the origins of the Great Depression, ranging from traditional Keynesian macrocauses to the market distortions caused by imperfect competition. In contrast, James Fackler focuses on propagating rather than initiating factors of the Depression, particularly monetary versus real spending theories. He constructs an econometric model to evaluate the influence of alternative theories on output and employment. Remaining essays examine monetary institutions and policy. David Wheelock believes that changes in monetary institutions caused by the Great Depression ultimately gave monetary policy an inflationary bias. Stephen Cecchetti examines several fallacies associated with the Great Depression and their implications for current monetary policy. Recommended for economic history collections, upper-division undergraduate and up. F. Petrella College of the Holy Cross


Choice Review

This interesting collection contains six essays dealing with the causes and consequences of the Great Depression. Relying mainly on microeconomic analysis, Robert Margo examines labor market effects of the Depression, including the bias of work-relief legislation and its influence on the labor supply and different measures of unemployment. From an international perspective, Carol Heim shows the highly uneven effects of the Depression on different industries and regions, especially in the US and UK. Michael Bernstein explores conflicting views concerning the origins of the Great Depression, ranging from traditional Keynesian macrocauses to the market distortions caused by imperfect competition. In contrast, James Fackler focuses on propagating rather than initiating factors of the Depression, particularly monetary versus real spending theories. He constructs an econometric model to evaluate the influence of alternative theories on output and employment. Remaining essays examine monetary institutions and policy. David Wheelock believes that changes in monetary institutions caused by the Great Depression ultimately gave monetary policy an inflationary bias. Stephen Cecchetti examines several fallacies associated with the Great Depression and their implications for current monetary policy. Recommended for economic history collections, upper-division undergraduate and up. F. Petrella College of the Holy Cross


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