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Journal Article
Monetary explanations of the Great Depression: a selective survey of empirical evidence
Seventy years after the Great Depression, economists still debate the causes of this economic catastrophe. Two leading explanations are distinguished by whether or not the Federal Reserve?s monetary policies are perceived as being chiefly responsible for propagating and magnifying the initial contraction into a depression. ; This article surveys recent modeling efforts and empirical work that examine aggregate explanations for the Great Depression from both the extensive literature using vector autoregression techniques and the more recent literature using dynamic stochastic general ...
Journal Article
Kemp-Roth and saving
Journal Article
Why have interest rates been so volatile?
Conference Paper
Why have interest rates been so volatile?
Conference Paper
Unanticipated money growth and the nominal rate of interest