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dc.contributor.authorHarrison, Sharon G.en_US
dc.contributor.authorWeder, Marken_US
dc.date.accessioned2012-10-19T10:24:36Z-
dc.date.available2012-10-19T10:24:36Z-
dc.date.issued2002en_US
dc.identifier.piurn:nbn:de:kobv:11-10048937en_US
dc.identifier.urihttp://hdl.handle.net/10419/65334-
dc.description.abstractWe 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.en_US
dc.language.isoengen_US
dc.publisherHumboldt-Universität Berlinen_US
dc.relation.ispartofseriesDiscussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes 2002,35en_US
dc.subject.jelE32en_US
dc.subject.jelN12en_US
dc.subject.ddc330en_US
dc.subject.keywordGreat Depressionen_US
dc.subject.keywordSunspotsen_US
dc.subject.keywordDynamic General Equilibriumen_US
dc.titleDid sunspot cause the Great Depression?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn726383627en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:sfb373:200235-
Appears in Collections:Discussion Papers, SFB 373, HU Berlin

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