| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15287 |
| DP15287 The Great Depression as a Saving Glut | |
| Victor Degorce; Eric Monnet | |
| 发表日期 | 2020-09-12 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Facing the Great Depression, Keynes blamed the detrimental consequences of precautionary savings on growth (paradox of thrift). Yet, the magnitude, forms and effects of savings accumulation remain unexplored in studies on the international economic crash of the 1930s. Based on new data for 22 countries, we document that the Great Depression was associated with a large international increase in savings institutions’ deposits. Banking crises spurred precautionary savings. Panel estimations show a negative conditional correlation between real GDP and deposits in savings institutions when a banking crisis hit. A back-of-the-envelope calculation suggests that the negative effect of precautionary savings on growth was at least as large as the direct effect of the decline in banking activity. The evolution of the saving rate began to reverse as countries left the gold standard. |
| 主题 | Economic History |
| 关键词 | Great depression Banking crises Precautionary savings Paradox of thrift Savings banks |
| URL | https://cepr.org/publications/dp15287 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/544265 |
| 推荐引用方式 GB/T 7714 | Victor Degorce,Eric Monnet. DP15287 The Great Depression as a Saving Glut. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Victor Degorce]的文章 |
| [Eric Monnet]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Victor Degorce]的文章 |
| [Eric Monnet]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Victor Degorce]的文章 |
| [Eric Monnet]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
