A Heliocentric Journey into Germany's Great Depression
University of Adelaide - School of Economics
Oxford Economic Papers, Vol. 58, No. 2, pp. 288-316, 2006
The paper finds empirical evidence on the ripple effect of sunspots on the interwar German economy. It identifies a sequence of negative shocks to expectations for the 1927-32 period. The artificial economy predicts the 1928-32 depression and a long boom from 1933 onwards. Overall, a tangible fraction of interwar output volatility is attributed to sunspots.
JEL Classification: E32, N14
Date posted: February 29, 2008
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