| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16204 |
| 来源ID | Working Paper 16204 |
| Money and Interest Rates in the United States during the Great Depression | |
| Peter F. Basile; John Landon-Lane; Hugh Rockoff | |
| 发表日期 | 2010-07-22 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper reexamines the debate over whether the United States fell into a liquidity trap in the 1930s. We first review the literature on the liquidity trap focusing on Keynes's discussion of "absolute liquidity preference" and the division that soon emerged between Keynes, who believed that a liquidity trap had not been reached, and the American Keynesians who believed that the United States had fallen into a liquidity trap. We then explore several interest rates that have been neglected in previous analyses: yields on corporate debt (from Aaa to junk), bank lending rates, and mortgage rates. In general, our results strengthen the case for believing that there was no liquidity trap in the 1930s in the sense of one that covered the full spectrum of interest rates. The small segment of time in which a liquidity trap might have been present, however, makes drawing firm conclusions risky. |
| 主题 | History ; Financial History |
| URL | https://www.nber.org/papers/w16204 |
| 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/573879 |
| 推荐引用方式 GB/T 7714 | Peter F. Basile,John Landon-Lane,Hugh Rockoff. Money and Interest Rates in the United States during the Great Depression. 2010. |
| 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 | ||
| w16204.pdf（427KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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