Revisiting the 1929 Crisis: Was the Fed Pre-Keynesian? New Lessons from the Past

Diebolt, Claude; Parent, Antoine; Trabelsi, Jamel
This article is organized as follows: in section 1, the authors discuss the Bordo et al. (2002) monetarist counterfactual analysis. Section 2 presents data. In section 3, the authors address the following question: referring to Keynes' definition of liquidity trap, they ask th...
published 2012-06, Version 1
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Text : Journal article

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1

Language of Resource

English

Titles

Title

Revisiting the 1929 Crisis: Was the Fed Pre-Keynesian? New Lessons from the Past

Collective Title

  • Historical Social Research/Historische Sozialforschung, Vol. 37, No. 2 (2012)

Origin Information

Publication Date

2012-06

Publication Place

Cologne

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CC BY 4.0

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GESIS - Leibniz-Institut für Sozialwissenschaften

Description

  • Abstract

    This article is organized as follows: in section 1, the authors discuss the Bordo et al. (2002) monetarist counterfactual analysis. Section 2 presents data. In section 3, the authors address the following question: referring to Keynes' definition of liquidity trap, they ask themselves whether there were episodes of liquidity trap over the pre and post 1929 crisis period and whether the Fed modified its reaction function in consequence? Following this, in section 4 and using a SVAR approach, the authors simulate how US economic activity would have reacted following an expansionary monetary policy after the 1929 crisis. In conclusion, the authors suggest a renewed monetary lesson from the past.
  • Series Information

    Historical Social Research Vol. 37, No. 2 (2012): Special Issue: Political and Functional Elites in Post-Socialist Transformation: Central and East Europe since 1989/90

    Starting Point and Frequency: Year: 1979, Issues per volume: 4, Volumes per year: 1

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  • Is part of
    URL: https://www.gesis.org/en/hsr/archive/2012/372-elite-transformation/
  • Is part of
    ISSN: 0172-6404

Update Metadata: 2017-12-13 | Issue Number: 2 | Registration Date: 2017-10-26