Arbeitspapier
Did sunspot cause the Great Depression?
We apply a dynamic general equilibrium model to the period of the Great Depression. In particular, we examine a modification of the real business cycle model in which the possibility of indeterminacy of equilibria arises. In other words, agents' self-fulfilling expectations can serve as a primary impulse behind fluctuations. We find that the model, driven only by these measured sunspot shocks, can explain well the entire Depression era. That is, the decline from 1929-1932, the subsequent slow recovery, and the recession that occurred in 1937-1938.
- Sprache
-
Englisch
- Erschienen in
-
Series: SFB 373 Discussion Paper ; No. 2002,35
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: U.S.; Canada: 1913-
- Thema
-
Great Depression
Sunspots
Dynamic General Equilibrium
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Harrison, Sharon G.
Weder, Mark
- Ereignis
-
Veröffentlichung
- (wer)
-
Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
- (wo)
-
Berlin
- (wann)
-
2002
- Handle
- URN
-
urn:nbn:de:kobv:11-10048937
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Harrison, Sharon G.
- Weder, Mark
- Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
Entstanden
- 2002
Ähnliche Objekte (12)
Did Sunspot Cause the Great Depression?
Did Austerity Cause Brexit?
Did science cause the industrial revolution?
Lessons from the New Deal: Did the New Deal prolong or worsen the Great Depression?
Japan's Great Depression
Did inequality cause the U.S. financial crisis?
On the Great Depression
The great demand depression
On the Great Depression
Did monetary forces cause the Hungarian crises of 1931?
Perhaps the FOMC did what it said it did: An alternative interpretation of the Great Inflation
Tariffs and the Great Depression revisited
Did Sunspot Cause the Great Depression?
Did Austerity Cause Brexit?
Did science cause the industrial revolution?
Lessons from the New Deal: Did the New Deal prolong or worsen the Great Depression?
Japan's Great Depression
Did inequality cause the U.S. financial crisis?
On the Great Depression
The great demand depression
On the Great Depression
Did monetary forces cause the Hungarian crises of 1931?
Perhaps the FOMC did what it said it did: An alternative interpretation of the Great Inflation
Tariffs and the Great Depression revisited
Did Sunspot Cause the Great Depression?
Did Austerity Cause Brexit?
Did science cause the industrial revolution?
Lessons from the New Deal: Did the New Deal prolong or worsen the Great Depression?
Japan's Great Depression
Did inequality cause the U.S. financial crisis?
On the Great Depression
The great demand depression
On the Great Depression
Did monetary forces cause the Hungarian crises of 1931?
Perhaps the FOMC did what it said it did: An alternative interpretation of the Great Inflation