The Great Recession and the Great Depression: Reflections and Lessons

Barry Eichengreen

Working Papers Central Bank of Chile from Central Bank of Chile

Abstract: The Great Recession that started in 2008 has drawn constant comparisons with the Great Depression that unfolded in 1929. This paper documents how the response of policy makers in the current episode has been markedly different from the one observed in the 1920s and 1930s and to what extent this different behavior has followed the lessons from the historical analysis of the Great Depression. The historical account is also used to discuss probable changes to the world’s economic landscape regarding both trade and financial globalization.

Date: 2010-09
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Related works:
Chapter: The Great Recession and the Great Depression: Reflections and Lessons (2011)
Journal Article: The Great Recession and the Great Depression: Reflections and Lessons (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchwp:593

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