Real Business Cycle Models of the Great Depression: a Critical Survey

Luca Pensieroso

No 2005005, Discussion Papers (ECON - Département des Sciences Economiques) from Université catholique de Louvain, Département des Sciences Economiques

Abstract: Recent years have witnessed a revival of interest in the Great Depression of the 1930s. Among the differing new interpretations, that of the real business cycle (RBC) is particularly significant. It represents an outstanding methodological innovation in trying to cast the Great Depression within an “equilibrium” framework. This paper critically reiews the RBC interpretation of the Great Depression, clarifying its theoretical and methodological foundations, and paving the way for future assessments of its validity.

Keywords: Great Depression; Real Business Cycle Theory (search for similar items in EconPapers)
JEL-codes: B22 N12 (search for similar items in EconPapers)
Pages: 42
Date: 2005-02-01
New Economics Papers: this item is included in nep-dge, nep-his and nep-hpe
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: REAL BUSINESS CYCLE MODELS OF THE GREAT DEPRESSION: A CRITICAL SURVEY (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvec:2005005

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