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dc.contributor.authorCarlson, Bennyen_US
dc.contributor.authorJonung, Larsen_US
dc.date.accessioned2012-02-28en_US
dc.date.accessioned2012-03-28T13:10:46Z-
dc.date.available2012-03-28T13:10:46Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/56343-
dc.description.abstractThis paper traces the development of Bertil Ohlin's views on issues such as the causes of the depression of the 1930's, policies against the depression, the use of fiscal and monetary policies, and tariffs and public works to stabilize the business cycle. We examine about 80 of his articles on the depression of the 1930's, published in Stockholms-Tidningen, a Stockholm daily, between 1926 and 1935. This is a small sample of Ohlin's total output of more than 2 300 contributions to the daily press - a number that makes him the most prolific economic journalist of all Swedish professors of economics in the 20th century. Our basic result is that Ohlin was an eager but cautious commentator on current affairs. Initially, he was quite optimistic, underestimating the depth of the depression. Later, as the depression worsened, he proposed bolder measures such as increased public works and public investments as well as an expansionary monetary policy to fight unemployment. By 1932, Ohlin had adopted a multiplier approach. He was strongly opposed to cuts in nominal wages and public expenditures during the depression. Summarizing his views on the depression in 1934, Ohlin concluded that it was not the result of any inherent weakness of capitalism. Turning to the perennial debate on the originality of the Stockholm School: Do Ohlin's daily articles show him as a pioneer or as an orthodox in macroeconomic thinking in the 1930's? We conclude that support for either interpretation can be heralded. However, Ohlin appears more radical in his academic writings than in his newspaper articles - a view supported by Ohlin himself in his memoirs.en_US
dc.language.isoengen_US
dc.publisherEkonomiska Forskningsinst. Stockholmen_US
dc.relation.ispartofseriesSSE/EFI Working Paper Series in Economics and Finance 431en_US
dc.subject.jelB20en_US
dc.subject.jelB31en_US
dc.subject.jelE24en_US
dc.subject.jelE60en_US
dc.subject.jelN14en_US
dc.subject.ddc330en_US
dc.subject.keywordBertil Ohlinen_US
dc.subject.keywordthe great depressionen_US
dc.subject.keywordthe Stockholm Schoolen_US
dc.subject.keywordfiscal and monetary policyen_US
dc.subject.keywordkeynesian macroeconomicsen_US
dc.titleOhlin on the Great Depression: The popular message in the daily pressen_US
dc.typeWorking Paperen_US
dc.identifier.ppn687618843en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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