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dc.contributor.authorPerry, Nathanen_US
dc.contributor.authorVernengo, Matíasen_US
dc.date.accessioned2011-09-01en_US
dc.date.accessioned2012-04-12T14:22:09Z-
dc.date.available2012-04-12T14:22:09Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/57057-
dc.description.abstractConventional wisdom contends that fiscal policy was of secondary importance to the economic recovery in the 1930s. The recovery is then connected to monetary policy that allowed non-sterilized gold inflows to increase the money supply. Often, this is shown by measuring the fiscal multipliers, and demonstrating that they were relatively small. This paper shows that problems with the conventional measures of fiscal multipliers in the 1930s may have created an incorrect consensus on the irrelevance of fiscal policy. The rehabilitation of fiscal policy is seen as a necessary step in the reinterpretation of the positive role of New Deal policies for the recovery.en_US
dc.language.isoengen_US
dc.publisherLevy Economics Inst. Annandale-on-Hudson, NYen_US
dc.relation.ispartofseriesWorking paper, Levy Economics Institute 678en_US
dc.subject.jelE62en_US
dc.subject.jelE63en_US
dc.subject.jelN12en_US
dc.subject.ddc330en_US
dc.subject.keywordfiscal policyen_US
dc.subject.keywordGreat Depressionen_US
dc.titleWhat ended the great depression? Reevaluating the role of fiscal policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn667588175en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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