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https://hdl.handle.net/10419/65334
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Harrison, Sharon G. | en |
dc.contributor.author | Weder, Mark | en |
dc.date.accessioned | 2012-10-19T10:24:36Z | - |
dc.date.available | 2012-10-19T10:24:36Z | - |
dc.date.issued | 2002 | - |
dc.identifier.pi | urn:nbn:de:kobv:11-10048937 | en |
dc.identifier.uri | http://hdl.handle.net/10419/65334 | - |
dc.description.abstract | We apply a dynamic general equilibrium model to the period of the Great Depression. In particular, we examine a modification of the real business cycle model in which the possibility of indeterminacy of equilibria arises. In other words, agents' self-fulfilling expectations can serve as a primary impulse behind fluctuations. We find that the model, driven only by these measured sunspot shocks, can explain well the entire Depression era. That is, the decline from 1929-1932, the subsequent slow recovery, and the recession that occurred in 1937-1938. | en |
dc.language.iso | eng | en |
dc.publisher | |aHumboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes |cBerlin | en |
dc.relation.ispartofseries | |aSFB 373 Discussion Paper |x2002,35 | en |
dc.subject.jel | E32 | en |
dc.subject.jel | N12 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | Great Depression | en |
dc.subject.keyword | Sunspots | en |
dc.subject.keyword | Dynamic General Equilibrium | en |
dc.title | Did sunspot cause the Great Depression? | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 726383627 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:sfb373:200235 | en |
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