| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4481 |
| 来源ID | Working Paper 4481 |
| Could Stable Money Have Averted The Great Contraction? | |
| Michael D. Bordo; Ehsan U. Choudhri; Anna J. Schwartz | |
| 发表日期 | 1993-10-01 |
| 出版年 | 1993 |
| 语种 | 英语 |
| 摘要 | We test the hypothesis that the Great Contraction would have been attenuated had the Fed not allowed the money stock to decline. We do so by simulating a model that estimates separate relations for output and the price level and assumes that output and price dynamics are not especially sensitive to policy changes. The simulations include a strong and a weak form of Friedman's constant money growth rule. The results support the hypothesis that the Great Contraction would have been mitigated and shortened had the Fed followed a constant money growth rule. |
| 主题 | Macroeconomics ; Monetary Policy |
| URL | https://www.nber.org/papers/w4481 |
| 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/561858 |
| 推荐引用方式 GB/T 7714 | Michael D. Bordo,Ehsan U. Choudhri,Anna J. Schwartz. Could Stable Money Have Averted The Great Contraction?. 1993. |
| 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 | ||
| w4481.pdf（1804KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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