The tale of two great crises

Michele Fratianni and Federico Giri

No 51, FinMaP-Working Papers from Collaborative EU Project FinMaP - Financial Distortions and Macroeconomic Performance: Expectations, Constraints and Interaction of Agents

Abstract: The great depression of 1929 and the great financial crisis of 2008 have been the two big events of the last 75 years. Not only have they produced serious economic consequences but they also changed our view of economics and policymaking. The aim of this work is to compare these two great crises and highlight similarities as well as differences. Monetary policy, the exchange rate system and the role of the banks are our fields of investigation. Our findings are that two big events have more similarities than dissimilarities.

Keywords: Great Depression; Great Financial Crisis; gold standard; Eurozone; money multiplier; shadow banking (search for similar items in EconPapers)
JEL-codes: E31 E42 E5 G21 (search for similar items in EconPapers)
Date: 2015
New Economics Papers: this item is included in nep-fdg, nep-his, nep-hpe, nep-mac and nep-opm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Related works:
Journal Article: The tale of two great crises (2017)
Working Paper: The Tale of Two Great Crises (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:fmpwps:51

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