The great recession and the great depression: reflections and lessons

The great recession and the great depression: reflections and lessons

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My Economics Department colleagues are fond of telling me that as an economic historian I have the advantage that I don’t have to update my lectures in response to events. My history lectures don’t become outdated as quickly as their lectures on say the Great Moderation. The fallacy of this view is...

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Autor principal: Eichengreen, Barry J.
Formato: Artículo
Lenguaje:eng
Publicado: Banco Central de Chile 2019
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CRISIS FINANCIERA
CRISIS ECONÓMICA 1929
Acceso en línea:https://hdl.handle.net/20.500.12580/3899
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spelling oai-20.500.12580-38992021-04-24T11:17:37Z The great recession and the great depression: reflections and lessons Eichengreen, Barry J. CRISIS FINANCIERA CRISIS ECONÓMICA 1929 My Economics Department colleagues are fond of telling me that as an economic historian I have the advantage that I don’t have to update my lectures in response to events. My history lectures don’t become outdated as quickly as their lectures on say the Great Moderation. The fallacy of this view is that while the so-called 'facts' don’t change their interpretation does. To take the obvious example in light of recent events I have had to revise everything I say about the Great Depression. This is the case with regard to the causes of the 1929 crisis which included the Florida real estate bubble global imbalances (referred to then as 'the transfer problem') and lax supervision and regulation. And this is the case with regard to the debate over the effectiveness of monetary and fiscal stimulus in the 1930s. It is certainly the case when we ask whether 'it' could happen again. 2019-11-01T00:05:24Z 2019-11-01T00:05:24Z 2011 Artículo 978-956-7421-35-0 https://hdl.handle.net/20.500.12580/3899 eng Series on Central Banking Analysis and Economic Policies no. 16 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 49-58 application/pdf Banco Central de Chile
institution Banco Central
collection Banco Central
language eng
topic CRISIS FINANCIERA
CRISIS ECONÓMICA 1929
spellingShingle CRISIS FINANCIERA
CRISIS ECONÓMICA 1929
Eichengreen, Barry J.
The great recession and the great depression: reflections and lessons
description My Economics Department colleagues are fond of telling me that as an economic historian I have the advantage that I don’t have to update my lectures in response to events. My history lectures don’t become outdated as quickly as their lectures on say the Great Moderation. The fallacy of this view is that while the so-called 'facts' don’t change their interpretation does. To take the obvious example in light of recent events I have had to revise everything I say about the Great Depression. This is the case with regard to the causes of the 1929 crisis which included the Florida real estate bubble global imbalances (referred to then as 'the transfer problem') and lax supervision and regulation. And this is the case with regard to the debate over the effectiveness of monetary and fiscal stimulus in the 1930s. It is certainly the case when we ask whether 'it' could happen again.
format Artículo
author Eichengreen, Barry J.
author_facet Eichengreen, Barry J.
author_sort Eichengreen, Barry J.
title The great recession and the great depression: reflections and lessons
title_short The great recession and the great depression: reflections and lessons
title_full The great recession and the great depression: reflections and lessons
title_fullStr The great recession and the great depression: reflections and lessons
title_full_unstemmed The great recession and the great depression: reflections and lessons
title_sort great recession and the great depression: reflections and lessons
publisher Banco Central de Chile
publishDate 2019
url https://hdl.handle.net/20.500.12580/3899
work_keys_str_mv AT eichengreenbarryj thegreatrecessionandthegreatdepressionreflectionsandlessons
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