| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w3546 |
| 来源ID | Working Paper 3546 |
| \"Liquidation\" Cycles: Old-Fashioned Real Business Cycle Theory and the Great Depression | |
| J. Bradford De Long | |
| 发表日期 | 1990-12-20 |
| 出版年 | 1990 |
| 语种 | 英语 |
| 摘要 | During the 1929-33 slide into the Great Depression, the Federal Reserve took almost no steps to keep the money supply or the price level stable. Instead, the Federal Reserve acted - disastrously - as if the gathering Great Depression could not be avoided, and was best endured. Such a liquidationist' theory of depressions was in fact common before the Keynesian Revolution, and was held and advanced by economists like Kayek and Schumpeter. This paper tries to reconstruct the logic of the liquidationist' view. It argues that the perspective was carefully thought out (although not adequate to the Depression), may hold some truth in other times and places, and could be the core of a more productive research program that currently popular real' business cycle theories. |
| 主题 | Macroeconomics |
| URL | https://www.nber.org/papers/w3546 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560867 |
| 推荐引用方式 GB/T 7714 | J. Bradford De Long. \"Liquidation\" Cycles: Old-Fashioned Real Business Cycle Theory and the Great Depression. 1990. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w3546.pdf（580KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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