History Commons^™

Financial Factors And The Propagation Of The Great Depression, Gustavo S. Cortes, Bryan Taylor, Marc D. Weidenmier

Business Faculty Articles and Research

We investigate the role of forward-looking financial factors in propagating the Great Depression. We find that a new hand-collected bank stock index is better at predicting the onset of the Great Depression than the aggregate stock market or failed bank deposits. The bank stock index explains almost one-third of the fluctuations in industrial production after five years. Analysis disaggregated at each Federal Reserve district shows that bank stocks capture forward-looking information about debt defaults and credit. Our results suggest that future studies of the credit channel during the Great Depression should incorporate bank stocks to better identify the impact of …

3rd Place Contest Entry: “The Good Of The Country Rises Above Party”: Roosevelt, La Guardia, And O’Connor And The Works Progress Administration In New York City During The Great Depression, Kristine Avena

Kevin and Tam Ross Undergraduate Research Prize

This is Kristine Avena's submission for the 2016 Kevin and Tam Ross Undergraduate Research Prize, which won third place. She wrote about the cooperative efforts of President Franklin D. Roosevelt, New York Mayor Fiorello LaGuardia, and New York Congressman John O'Connor during the Great Depression.

Kristine is a senior at Chapman University, majoring in History. Her faculty mentor was Dr. Leland L. Estes.