Real Business Cycle Models of the Great Depression : a Critical Survey

Pensieroso, Luca
(2005)

Files

2005-5.pdf
  • Open Access
  • Adobe PDF
  • 660.51 KB
Download

Details

Authors
Abstract
Recent years have witnessed a revival of interest in the Great Depression of the 1930s. Among the differing new interpretations, that of the real business cycle (RBC) is particularly significant. It represents an outstanding methodological innovation in trying to cast the Great Depression within an ?equilibrium? framework. This paper critically reviews the RBC interpretation of the Great Depression, clarifying its theoretical and methodological foundations, and paving the way for future assessments of its validity.
Affiliations

Citations

  • APA
  • Chicago
  • FWB

Pensieroso, L. (2005). Real Business Cycle Models of the Great Depression : a Critical Survey (ECON Working Papers 2005/05). https://hdl.handle.net/2078.5/130177