| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22140 |
| 来源ID | Working Paper 22140 |
| Supply-Side Policies in the Depression: Evidence from France | |
| Jérémie Cohen-Setton; Joshua K. Hausman; Johannes F. Wieland | |
| 发表日期 | 2016-04-04 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | The effects of supply-side policies in depressed economies are controversial. We shed light on this debate using evidence from France in the 1930s. In 1936, France departed from the gold standard and implemented mandatory wage increases and hours restrictions. Deflation ended but output stagnated. We present time-series and cross-sectional evidence that these supply-side policies, in particular the 40-hour law, contributed to French stagflation. These results are inconsistent both with the standard one-sector new Keynesian model and with a medium scale, multi-sector model calibrated to match our cross-sectional estimates. We conclude that the new Keynesian model is a poor guide to the effects of supply-side shocks in depressed economies. |
| 主题 | Macroeconomics ; Business Cycles ; Fiscal Policy ; History ; Macroeconomic History |
| URL | https://www.nber.org/papers/w22140 |
| 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/579813 |
| 推荐引用方式 GB/T 7714 | Jérémie Cohen-Setton,Joshua K. Hausman,Johannes F. Wieland. Supply-Side Policies in the Depression: Evidence from France. 2016. |
| 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 | ||
| w22140.pdf（1030KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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