Monetary and Financial Forces in the Great Depression

9 Pages Posted: 14 Jul 2006

See all articles by Satyajit Chatterjee

Satyajit Chatterjee

Federal Reserve Bank of Philadelphia

Philip Dean Corbae

University of Wisconsin - Madison - Department of Finance, Investment and Banking

Date Written: June 2006

Abstract

What caused the worldwide collapse in output from 1929 to 1933? Why was the recovery from the trough of 1933 so protracted for the U.S.? How costly was the decline in terms of welfare? Was the decline preventable? These are some of the questions that have motivated economists to study the Great Depression. In this paper, the authors review some of the economic literature that attempts to answer these.

Suggested Citation

Chatterjee, Satyajit and Corbae, Philip Dean, Monetary and Financial Forces in the Great Depression (June 2006). FRB of Philadelphia Working Paper No. 06-12. Available at SSRN: https://ssrn.com/abstract=916349 or http://dx.doi.org/10.2139/ssrn.916349

Satyajit Chatterjee (Contact Author)

Federal Reserve Bank of Philadelphia ( email )

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Philip Dean Corbae

University of Wisconsin - Madison - Department of Finance, Investment and Banking ( email )

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Madison, WI 53706
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