| 来源类型 | VoxEU Column
|
| 规范类型 | 评论
|
| The Great Depression, banking crises, and Keynes' paradox of thrift |
| Victor Degorce; Eric Monnet
|
| 发表日期 | 2020-10-21
|
| 出版年 | 2020
|
| 语种 | 英语
|
| 摘要 | The surge in savings following the 2008-2009 Global Crisis and the recent pandemic have rekindled the interest of economists and policymakers in the paradox of thrift, formulated by Keynes in the 1930s. Subsequent research on the Great Depression of the 1930s, however, has not addressed the link between precautionary savings and growth. Using data on deposits in savings institutions of 22 countries, this column studies the fate of savings during the Great Depression and shows that Keynes' intuition was right. Banking crises had an impact on economic growth not only through the direct lending channel, but also indirectly through an increase in precautionary savings. This bears important lessons for today. |
| 主题 | Global crisis
; Macroeconomic policy
; Monetary Policy
|
| 关键词 | Great depression
Banking crisis
Keynes
Paradox of thrift
|
| URL | https://cepr.org/voxeu/columns/great-depression-banking-crises-and-keynes-paradox-thrift
|
| 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/555586
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推荐引用方式
GB/T 7714 |
Victor Degorce,Eric Monnet. The Great Depression, banking crises, and Keynes' paradox of thrift. 2020.
|
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