Real Business Cycle Models of the Great Depression

Luca Pensieroso

No 2009034, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: This paper presents and assesses the recent application of models in the Real Business Cycle (RBC) tradition to the analysis of the Great Depression of the 1930s. The main conclusion is that the breaking of the depression taboo has been a desirable completion of the cliometric revolution: no historic event should be exempt from a dispassionate quantitative analysis. On the other hand, the substantive contribution of RBC models is not yet sufficient to establish a new historiography of the Great Depression.

Keywords: Great Depression; Real Business Cycle; Dynamic Stochastic General Equilibrium; Cliometrics (search for similar items in EconPapers)
JEL-codes: E13 N01 N10 (search for similar items in EconPapers)
Pages: 27
Date: 2009-10-19
New Economics Papers: this item is included in nep-dge and nep-his
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Citations: View citations in EconPapers (15)

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Related works:
Journal Article: Real business cycle models of the Great Depression (2011)
Working Paper: Real Business Cycle Models of the Great Depression (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:2009034

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