全球智库信息集成服务系统(G2TT): The Impact of Cartelization, Money, and Productivity Shocks on the International Great Depression

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来源类型	Working Paper
规范类型	报告
DOI	10.3386/w18823
来源ID	Working Paper 18823
	The Impact of Cartelization, Money, and Productivity Shocks on the International Great Depression
	Harold L. Cole; Lee E. Ohanian
发表日期	2013-02-21
出版年	2013
语种	英语
摘要	This study exploits panel data from 18 countries to assess the contributions of cartelization policies, monetary shocks, and productivity shocks on macroeconomic activity during the Great Depression. To construct a parsimonious and common model framework, we use the fact that many cartel policies are observationally equivalent to a country-specific labor tax wedge. We estimate a monetary DSGE model with cartel wedges along with productivity and monetary shocks. Our main finding is that cartel policy shocks account for the bulk of the Depression in the countries that adopted significant cartel policies, including the large depressions in the U.S., Germany, Italy, and Australia, and that the estimated cartel policy shocks plausibly coincide with the actual evolution of policies in these countries. In contrast, cartel policy shocks in the countries that did not significantly change policies were small and account for little of their Depressions.
主题	International Economics ; Trade ; History ; Macroeconomic History
URL	https://www.nber.org/papers/w18823
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/576497
推荐引用方式 GB/T 7714	Harold L. Cole,Lee E. Ohanian. The Impact of Cartelization, Money, and Productivity Shocks on the International Great Depression. 2013.

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
w18823.pdf（296KB）	智库出版物		限制开放	CC BY-NC-SA	浏览