Was the Gold Exchange Standard the Source of the Great Depression?

L’étalon de change-or a-t-il été à l’origine de la Grande dépression ?

Samuel Maveyraud and Antoine Parent

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Abstract: The aim of this article is to clearly identify the mechanisms of the money market spillovers between the United States, the United Kingdom and France during the interwar period. To describe these mechanisms in detail, a BEKK model, in which we introduce a structural break, is adopted. Our analysis sheds new light on key historical issues: Was the crisis imported into the US? Did France set off interest rate volatility in the rest of the world during the thirties? Does the propagation process of interest rate volatility corroborate the "Golden Fetters" hypothesis?

Keywords: volatilité des taux d’intérêt; modèle BEKK; mécanismes de diffusion (search for similar items in EconPapers)
Date: 2015
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Published in Revue Française d'Economie, 2015, Crises financières et contagions internationales : une mise en perspective macroéconomique et cliométrique, XXX (3), ⟨10.3917/rfe.153.0053⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01475242

DOI: 10.3917/rfe.153.0053

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