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https://hdl.handle.net/2440/35183
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Type: | Journal article |
Title: | Some observations on the Great Depression in Germany |
Author: | Weder, M. |
Citation: | German Economic Review, 2006; 7(1):113-133 |
Publisher: | Blackwell Publishing Ltd. |
Issue Date: | 2006 |
ISSN: | 1465-6485 1468-0475 |
Abstract: | This paper evaluates the role of preference shocks during the Great Depression in Germany. From Euler equation residuals, I am able to identify a series of contractionary shocks that struck the German economy from 1929 to 1932. I apply the sequence of these taste innovations to a dynamic general-equilibrium model and find that the size and the order of shocks can generate a pattern that can explain the lion's share of the decline in economic activity. The artificial economy also predicts a swift recovery after 1932, thereby questioning any significant effects of Nazi economic policy. |
Description: | The definitive version of this paper can be found at www.blackwell-synergy.com |
DOI: | 10.1111/j.1468-0475.2006.00149.x |
Published version: | http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0475.2006.00149.x |
Appears in Collections: | Aurora harvest 6 Economics publications |
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