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dc.contributor.authorPerry, Nathanen
dc.contributor.authorVernengo, Matíasen
dc.date.accessioned2011-09-01-
dc.date.accessioned2012-04-12T14:22:09Z-
dc.date.available2012-04-12T14:22:09Z-
dc.date.issued2011-
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
dc.language.isoengen
dc.publisher|aLevy Economics Institute of Bard College |cAnnandale-on-Hudson, NYen
dc.relation.ispartofseries|aWorking Paper |x678en
dc.subject.jelE62en
dc.subject.jelE63en
dc.subject.jelN12en
dc.subject.ddc330en
dc.subject.keywordfiscal policyen
dc.subject.keywordGreat Depressionen
dc.titleWhat ended the great depression? Reevaluating the role of fiscal policy-
dc.typeWorking Paperen
dc.identifier.ppn667588175en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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