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dc.contributor.authorHarrison, Sharon G.en
dc.contributor.authorWeder, Marken
dc.date.accessioned2012-10-19T10:24:36Z-
dc.date.available2012-10-19T10:24:36Z-
dc.date.issued2002-
dc.identifier.piurn:nbn:de:kobv:11-10048937en
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
dc.language.isoengen
dc.publisher|aHumboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes |cBerlinen
dc.relation.ispartofseries|aSFB 373 Discussion Paper |x2002,35en
dc.subject.jelE32en
dc.subject.jelN12en
dc.subject.ddc330en
dc.subject.keywordGreat Depressionen
dc.subject.keywordSunspotsen
dc.subject.keywordDynamic General Equilibriumen
dc.titleDid sunspot cause the Great Depression?-
dc.typeWorking Paperen
dc.identifier.ppn726383627en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:sfb373:200235en

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