The Great Depression of 1929 and the Great Financial Crisis of 2008 have been the two big events of the last 75 years. Not only have they produced serious economic consequences but they also changed our view of economics and policymaking. The aim of this work is to compare these two great crises and highlight similarities as well as differences. Monetary policy, the exchange rate system and the role of banks are our fields of investigation. We find interesting parallels between the two big events but also differences in their specific developments.
The tale of two great crises / Fratianni, M.; Giri, F.. - In: JOURNAL OF ECONOMIC DYNAMICS & CONTROL. - ISSN 0165-1889. - 81:(2017), pp. 5-31. [10.1016/j.jedc.2017.05.004]
The tale of two great crises
Fratianni M.;Giri F.
2017-01-01
Abstract
The Great Depression of 1929 and the Great Financial Crisis of 2008 have been the two big events of the last 75 years. Not only have they produced serious economic consequences but they also changed our view of economics and policymaking. The aim of this work is to compare these two great crises and highlight similarities as well as differences. Monetary policy, the exchange rate system and the role of banks are our fields of investigation. We find interesting parallels between the two big events but also differences in their specific developments.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
