Essays on the Great Depression

By Ben S. Bernanke. 2024

378 citations recorded by the source corpus.

Preface vii PART ONE: OVERVIEW 3 1. The Macroeconomics of the Great Depression: A Comparative Approach 5 PART TWO: MONEY AND FINANCIAL MARKETS 39 2. Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression 41 3. The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison - With Harold James 70 4. Deflation and Monetary Contraction in the Great Depressim An Analysis by Simple Ratios - With Ilian Mihov 108 PART THREE: LABOR MARKETS 161 5. The Cyclical Behavior of Industrial Labor Markets: A Comparison of the Prewar and Postwar Eras - With James L. Powell 163 6. Employment, Hours, and Earnings in the Depression: An Analysis of Eight Manufacturing Industries 206 7. Unemployment, Inflation, and Wages in the American Depression: Are There Lessons for Europe? - With Martin Parkinson 247 8. Procyclical Labor Productivity and Competing Theories of the Business Cycle: Some Evidence from Interwar U.S. Manufacturing Industries - With Martin Parkinson 255 9. Nominal Wage Stickiness and Aggregate Supply in the Great Depression - With Kevin Carey 276 Index 303

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/331d2e5bd310a7aabd1cf6b2654cf8e94a389411

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

In Finance

Citations in the corpus

From Great Depression to Great Credit Crisis: Similarities, Differences and Lessons (2010, neutral): “Source: Bernanke and Mihov (2000), Bank of England, ECB, Bank of Japan, St.”
Manufacturing Tail Risk: A Perspective on the Financial Crisis of 2007-09 (2010, positive): “This in turn led to debt deflation, a phenomenon by which the collateral underlying loans shrinks in value, causing the real burden of debt to rise, leading the economy to spiral further downward (Bernanke, 2000).”
The Financial Crisis of 2007–2009: Why Did It Happen and What Did We Learn? (2015, neutral): “The main point brought out by the Taylor and Williams (2009) analysis is that counterparty risk concerns generated by rising insolvency risk perceptions were an important driver of short-term funding strains for 58 See, for example, Bernanke (2000).”
The Magnitude and Cyclical Behavior of Financial Market Frictions (2004, background): “6The role of financial factors in the Great Depression was originally emphasized by Fisher (1933) and has recently been considered by Bernanke (2000) and Christiano, Motto, and Rostagno (2004).”