What ended the great depression ? Reevaluating the role of fiscal policy
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چکیده
منابع مشابه
The Role of Real Wages, Productivity, and Fiscal Policy in Germany's Great Depression 1928¬タモ1937
We study the behavior of output, employment, consumption, and investment in Germany during the Great Depression of 1928-37. In this time period, real wages were countercyclical, and productivity and fiscal policy were procyclical. We use the neoclassical growth model to investigate how much these factors contribute to the Depression. We find that real wages, which were significantly above their...
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