The Fisher Relation in the Great Depression and the Great Recession

David Laidler

No 20132, University of Western Ontario, Economic Policy Research Institute Working Papers from University of Western Ontario, Economic Policy Research Institute

Abstract: The Fisher relation played a very different role in debates surrounding the Great Depression and the more recent Great Recession. This paper explores some of these differences, and suggests an explanation for them derived from a sketch of the idea’s evolution between the two events, thus providing a brief case study of the interaction of economic ideas and economic events that is a central feature of the History of Economic Thought.

Keywords: Interest rates, nominal vs. real, Inflation, deflation, expectations, depression, recession, Keynesian Economics; Monetarism; Monetary Policy (search for similar items in EconPapers)
JEL-codes: B22 B26 E31 E32 E43 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-his, nep-hpe, nep-mon and nep-pke
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