| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14874 |
| 来源ID | Working Paper 14874 |
| The Finnish Great Depression: From Russia with Love | |
| Yuriy Gorodnichenko; Enrique G. Mendoza; Linda L. Tesar | |
| 发表日期 | 2009-04-08 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | During the period 1991-93, Finland experienced the deepest economic downturn in an industrialized country since the 1930s. We argue that the culprit behind this Great Depression was the collapse of Finnish trade with the Soviet Union, because it induced a costly restructuring of the manufacturing sector and a sudden, large increase in the cost of energy. We develop and calibrate a multi-sector dynamic general equilibrium model with labor market frictions, and show that the collapse of Soviet-Finnish trade can explain key features of Finland's Great Depression. We also show that Finland's Great Depression mirrors the macroeconomic dynamics of the transition economies of Eastern Europe. These economies experienced a similar trade collapse. However, as a western democracy with developed capital markets and institutions, Finland faced none of the large institutional adjustments that other transition economies experienced. Thus, by studying the Finnish experience we isolate the adjustment costs due solely to the collapse of Soviet trade. |
| 主题 | Macroeconomics ; Business Cycles ; International Economics ; International Macroeconomics ; Other ; Economic Systems |
| URL | https://www.nber.org/papers/w14874 |
| 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/572549 |
| 推荐引用方式 GB/T 7714 | Yuriy Gorodnichenko,Enrique G. Mendoza,Linda L. Tesar. The Finnish Great Depression: From Russia with Love. 2009. |
| 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 | ||
| w14874.pdf（565KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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