Frank George Steindl University of Michigan Press

Monetary Interpretations of the Great Depression by Frank George Steindl

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Monetary Interpretations of the Great Depression

Author : Frank George Steindl

Publisher : University of Michigan Press

Published : 1995

ISBN-10 : 0472106007

ISBN-13 : 9780472106004

Number of Pages : 197 Pages

Language : en

Descriptions Monetary Interpretations of the Great Depression

Frank Steindl asks why, despite much monetary work in the intervening years, it was not until Friedman and Schwartz put forward their monetary interpretation of the depth of the Great Depression that the monetary approach was rescued from disrepute and established as one of the most widely held explanations for the Depression.To answer this question, the author explores the work of economists writing before Friedman and Schwartz. Among those investigated are Angell, Currie, Fisher, Hawtrey, Simons, Snyder, and Viner--economists of the first rank. Other approaches examined include those of Harry G. Brown, C. O. Hardy, Lionel Edie, Willford King, Arthur Marget, Lloyd Mints, Lionel Robbins, James Harvey Rogers, and H. Parker Willis.These analyses are examined in relation to the central elements of Friedman and Schwartz's framework, an analytical core that includes a money supply mechanism and an interpretation of the Federal Reserve's role in bringing about a dramatic decline in the money supply. A central finding is that their monetary interpretation stands alone and was not anticipated. The notable exception is Warburton, whose work was largely ignored because of its lack of clarity. Professor Steindl goes on to explore in terms of the nature of scientific inquiry why the other interpretations did not anticipate Friedman and Schwartz.This book will be of interest to monetary economists, especially historians of monetary thought, students of the Great Depression, and philosophers of science.Frank G. Steindl is Regents Professor of Economics, Oklahoma State University.

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Results Monetary Interpretations of the Great Depression

Great Depression in the United States - Wikipedia - Monetary interpretations Examining the causes of the Great Depression raises multiple issues: what factors set off the first downturn in 1929; what structural weaknesses and specific events turned it into a major depression; how the downturn spread from country to country; and why the economic recovery was so prolonged

PDF BIS Working Papers - Key words: Banking crisis, international monetary system, Great Depression, central bank liquidity. 1 The views expressed are those of the authors and should not be taken to reflect those of the BIS. We would like ... (1963) presented a monetary interpretation of the Great Depression. Bernanke and James (1991) presented empirical evidence from

Monetary Interpretations of the Great Depression - Goodreads - Monetary Interpretations of the Great Depression book. Read reviews from world's largest community for readers. Frank Steindl asks why, despite much

Monetary Interpretations of the Great Depression | History of Political - search input Search input auto suggest. filter your search

Monetary and Fiscal Policies during the Great Depression - Monetary policy is the use of interest rates and other tools, under the control of a country's central bank, to stabilize the economy. During the Great Depression, monetary policy was not actively used to stabilize the economy. A major component of stabilization after 1932 was restoring confidence in the banking system

A Monetary History of the United States, 1867-1960 - Steindl, Frank G., Monetary Interpretations of the Great Depression. Ann Arbor: University of Michigan Press, 1995. (Steindl provides a useful overview, which compares and contrasts the Friedman-Schwartz interpretation of the Great Depression with the interpretations offered by other monetary historians.)

Monetary Interpretations of the Great Depression - - Frank Steindl asks why, despite much monetary work in the intervening years, it was not until Friedman and Schwartz put forward their monetary interpretation of the depth of the Great Depression that the monetary approach was rescued from disrepute and established as one of the most widely held explanations for the Depression

PDF Monetarist Interpretations of The Great Depression - Wpmu Dev - (1963a) monetary explanation of the depression has helped to open up a new round of controversy, including the recent contributions of Meltzer (1976), Mayer (1978a. 1978b), and Schwartz (1981). A limitation of the Temin book and the subsequent debate has been its rela ... The debate surrounding monetarist interpretations of the Great Depression

Yes, monetary policy did cause the Great Depression - Econlib - As with the depression of the 1930s, the recession that began in December 2007 was triggered by a tight money policy that cased the growth rate of the monetary base to slow sharply. As in the 1930s, roughly a year into the 2008 recession a severe banking crisis caused a big increase in base money demand. As in the 1930s, the Fed partially

A Monetary History of the United States - Wikipedia - A Monetary History of the United States, 1867-1960 is a book written in 1963 by Nobel Prize-winning economist Milton Friedman and Anna J. uses historical time series and economic analysis to argue the then-novel proposition that changes in the money supply profoundly influenced the economy, especially the behavior of economic fluctuations

Comments on "Monetarist Interpretations of the Great Depression - Gandolfi, A. E., and Lothian, J. R. 1976. "The Demand for Money during the Great Depression to the Present." American Economic Review 66: 46-51. Google Scholar —. 1977. "'Did Monetary Forces Cause the Great Depression?' A Review Essay." Journal of Money, Credit and Banking 9: 679-91

PDF Monetary Explanations of the Great Depression: A Selective Survey of - the Fed exacerbated the Great Depression through "idiotic" monetary policies. Wheelock (1991) examines Fed monetary pol-icy during the Great Depression and suggests that it was more restrictive than policy in the 1920s. At the same time, he shows that the 1930s' monetary policy was consistent with an inadequate operating

Monetarist Interpretations of the Great Depression: An ... - NBER - Monetarist Interpretations of the Great Depression: An Evaluation and Critique. This paper rejects the proposition that there is only a single interesting question to ask about the decade of the 1930s. It is concerned not only with the role of money in the 1929-33 contraction but also with the relative role of monetary and nonmonetary factors

The Great Depression According to Milton Friedman - Friedman, the great free-market champion of the last 50 years and one of the most influential economists of the last 200 years, died in November 2006 at 94. He left us an immense intellectual legacy, including his explanation of the causes of the Great Depression, which, while persuading a majority of the economics profession, has yet to fully

Great Depression | Definition, History, Dates, Causes, Effects, & Facts - Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory. Although it originated in the United States, the Great Depression caused drastic declines in output

Monetarist Interpretations of the Great Depression: - Between the early 1960s and mid-1970s the Great Depression received surprisingly little attention from economists. This fascinating period, the original combat zone that pitted monetarists against nonmonetarists, seemed until recently a neglected orphan, too young to be worthy of serious study by economic historians but too old to possess the

Government policies and the collapse in trade during the Great Depression - Today's great trade collapse has brought world trade to a point that is still substantially below the corresponding period during the Great Depression. The collapse, however, seems to be turning around along with the economic recovery. This chapter draws two critical Great-Depression lessons for today. First, policy makers must ensure that the recovery continues; many of the worst political

17.1 The Great Depression and Keynesian Economics - Figure 17.1 The Depression and the Recessionary Gap. The dark-shaded area shows real GDP from 1929 to 1942, the upper line shows potential output, and the light-shaded area shows the difference between the two—the recessionary gap. The gap nearly closed in 1941; an inflationary gap had opened by 1942. The chart suggests that the recessionary

The Great Depression | Federal Reserve History - "The Origins and Nature of the Great Slump Revisited." Economic History Review 45, no. 2 (May 1992): 213-239. Friedman, Milton and Anna Schwartz. A Monetary History of the United States: 1867-1960. Princeton: Princeton University Press, 1963. Kindleberger, Charles P. The World in Depression, 1929-1939: Revised and Enlarged Edition

How a radical interpretation of the Great Depression became the - By the end of the 20th century, their interpretation of the Great Depression had become sufficiently dominant in economics and economic history to qualify as the orthodoxy

Monetary interpretations of the great depression - University of - Frank Steindl asks why, despite much monetary work in the intervening years, it was not until Friedman and Schwartz put forward their monetary interpretation of the depth of the Great Depression that the monetary approach was rescued from disrepute and established as one of the most widely held explanations for the Depression. To answer this question, the author explores the work of economists

Yale and the monetary interpretation of the Great Depression - The monetary interpretation of the Great Depression is intimately associated with Friedman and Schwartz. Their analytical core consists of three elements: (a) the documentation of the sharp fall in the money stock; (b) the Federal Reserve's role therein and (c) the monetary mechanism whereby the Federal Reserve could have increased the money supply

Economic impact of the Great Depression - Britannica - The Great Depression also played a crucial role in the development of macroeconomic policies intended to temper economic downturns and upturns. The central role of reduced spending and monetary contraction in the Depression led British economist John Maynard Keynes to develop the ideas in his General Theory of Employment, Interest, and Money (1936). ). Keynes's theory suggested that

Monetary Interpretations of the Great Depression - Google Books - Frank Steindl asks why, despite much monetary work in the intervening years, it was not until Friedman and Schwartz put forward their monetary interpretation of the depth of the Great Depression that the monetary approach was rescued from disrepute and established as one of the most widely held explanations for the answer this question, the author explores the work of economists

PDF Anticipating the Great Depression? Gustav Cassel'S Analysis of The - gold standard interpretation of the Great Depression. Furthermore, Cassel was not an unknown 3 Before the work on the gold standard in the 1980s and 1990s, Milton Friedman and Anna J. Schwartz's Monetary History of the United States (1963) was the most influential interpretation of the Great Depression in the United States

(PDF) Monetarist Interpretations of the Great Depression ... - ResearchGate - This chapter compares alternative explanations of the Great Depression: the Monetarist explanation of (Friedman and Schwartz,.A Monetary History of the United States, 1867-1960, Princeton

32.1 The Great Depression and Keynesian Economics - Figure 32.1 The Depression and the Recessionary Gap. The dark-shaded area shows real GDP from 1929 to 1942, the upper line shows potential output, and the light-shaded area shows the difference between the two—the recessionary gap. The gap nearly closed in 1941; an inflationary gap had opened by 1942. The chart suggests that the recessionary

Understanding Economic Recovery in the 1930s - University of Michigan Press - Professor Steindl is also the author of many articles and the book Monetary Interpretations of the Great Depression(University of Michigan Press, 1995). Praise / Awards "A reconsideration as well as a favorable assessment of monetarist (quantity theory) explanation of the recovery phase of the Great Depression. . . a valuable addition to our

- ISSN 0033-5797 Yale and the Monetary Interpretation of the Great Depression FRANK G. STEINDL Oklahoma State University The monetary interpretation of the Great Depression is intimately associated with Friedman and Schwartz , Their analytical core consists of three elts: (a) the documentation of the sham fall in the money stock; (b) the Federal Reserve's role therein and (c) the monetary mechanism whereby the Federal Reserve could have increased the money supply

Monetary Interpretations of the Great Depression - - This book will be of interest to monetary economists, especially historians of monetary thought, students of the Great Depression, and philosophers of science. Frank G. Steindl is Regents Professor of Economics, Oklahoma State University

MONETARIST INTERPRETATIONS OF THE GREAT DEPRESSION - WPMU DEV - 2 MONETARIST INTERPRETATIONS OF THE GREAT DEPRESSION: An Evaluation and Critique Robert J. Gordon and James A. Wilcox Explanations which run in terms of one single cause have been more and more discredited and should be regarded with suspicion. -Haberler (1958, p. 5)

Monetary Interpretations of the Great Depression - Frank - Professor Steindl goes on to explore in terms of the nature of scientific inquiry why the other interpretations did not anticipate Friedman and book will be of interest to monetary economists, especially historians of monetary thought, students of the Great Depression, and philosophers of G. Steindl is Regents

Monetarist Interpretations of the Great Depression: An - Monetarist Interpretations of the Great Depression: An Evaluation and Critique Robert J. Gordon & James A. Wilcox Chapter 199 Accesses 24 Citations Part of the Rochester Studies in Economics and Policy Issues book series (RSEP,volume 2) Abstract