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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/46484
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| Title: | | Europe's great depression: Coordination failure after the first World War  |
| Authors: | | Wolf, Nikolaus |
| Issue Date: | | 2010 |
| Series/Report no.: | | CESifo working paper: Monetary Policy and International Finance 3164 |
| Abstract: | | In this paper I survey and reinterpret the extensive literature on Europe's Great Depression. I argue that Europe could not exploit her vast economic potential after 1918, because the war had not yet come to an end - indeed it did not end before 1945. Both, domestic and international institutions suffered from a lack of reciprocal trust and commitment, which can be clearly illustrated in the realm of monetary policy but affected many other areas of policymaking, such as energy or migration policies. These institutions in turn affected expectations and thereby the extent to which for example expansionary policies could be effective. |
| Subjects: | | Great Depression Europe coordination failure |
| JEL: | | E50 F50 N14 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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