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Financial Factors in the Great Depression

Charles W. Calomiris

Title:
Financial Factors in the Great Depression
Author(s):
Calomiris, Charles W.
Date:
Type:
Articles
Department:
Business
Volume:
7
Permanent URL:
Book/Journal Title:
Journal of Economic Perspectives
Abstract:
Beginning with Irving Fisher (1933) and John Maynard Keynes (1931 B [1963]), macroeconomists have argued that financial markets were important sources and propagators of decline during the Great Depression. Turning points during the Depression often coincided with or were preceded by dramatic events in financial markets: stock market collapse, waves of bankruptcy and bank failure, and contractions in the money stock. But the mechanism through which financial factors contributed to the Depression has been a source of controversy, as has been the relative importance of financial factors in explaining the origins and persistence of the Depression.
Subject(s):
Finance
Economic history
Item views:
195
Metadata:
text | xml
Suggested Citation:
Charles W. Calomiris, 1993, Financial Factors in the Great Depression, Columbia University Academic Commons, http://hdl.handle.net/10022/AC:P:11142.

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