Europe's Great Depression - Coordination Failure after the First World War

Nikolaus Wolf

No 3164, CESifo Working Paper Series from CESifo

Abstract: In this paper I survey and reinterpret the extensive literature on Europe's Great Depression. I argue that Europe could not exploit her vast economic potential after 1918, because the war had not yet come to an end - indeed it did not end before 1945. Both, domestic and international institutions suffered from a lack of reciprocal trust and commitment, which can be clearly illustrated in the realm of monetary policy but affected many other areas of policymaking, such as energy or migration policies. These institutions in turn affected expectations and thereby the extent to which for example expansionary policies could be effective.

Keywords: Great Depression; Europe; coordination failure (search for similar items in EconPapers)
JEL-codes: E50 F50 N14 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Europe's Great Depression: coordination failure after the First World War (2010)
Working Paper: Europe?s Great Depression: Coordination Failure after the First World War (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_3164

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