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Full-Text Articles in Social and Behavioral Sciences
Lessons From The U.S. Great Depression And The German Hyperinflation, Lester G. Telser
Lessons From The U.S. Great Depression And The German Hyperinflation, Lester G. Telser
Lester G Telser
Abstract. The German hyperinflation and the U.S. Great Depression have in common the effects of an insufficient amount of useful media of exchange. In Germany too much currency was printed and in the U.S. widespread bank failures undermined confidence in all demand deposits so all bank checks were regarded suspiciously. The effects were the same in both countries, very high rates of unemployment coupled with collapse of their economies. The German Hyperinflation gives evidence against the Phillips Curve. JEL E65 Study of Particular Policy Episodes
Inflations, Hyperinflations, And Will We Have One?, Warren Coats
Inflations, Hyperinflations, And Will We Have One?, Warren Coats
Warren Coats
Reviews Zimbabwe's recent hyperinflation and contrast it with inflation prospects in the U.S.
Economics Becomes A Science:1900-1999, Lester G. Telser
Economics Becomes A Science:1900-1999, Lester G. Telser
Lester G Telser
No abstract provided.
The Reconstruction Finance Corporation And The Great Depression: How Good Intentions Led To Calamity I, Lester G. Telser
The Reconstruction Finance Corporation And The Great Depression: How Good Intentions Led To Calamity I, Lester G. Telser
Lester G Telser
An ordinary recession starting in late spring 1929 became the Great Depression in winter 1933 owing to the collapse of the banking system, an unintended consequences of the well-intentioned Reconstruction Finance Corporation. This Federal corporation had ample resources it could lend to distressed banks, even those outside the Federal Reserve System. After the Democratic victory in November 1932. Garner, Vice-President-elect and still Speaker of the House in January 1933, set in motion events that turned the RFC into the unwitting spring of economic disaster. During the New Deal the RFC’s preferred stock program gave it substantial control over private banks …
Key Issues In The Reform Of Central Bank Legislation, Warren Coats, Henry Schiffman
Key Issues In The Reform Of Central Bank Legislation, Warren Coats, Henry Schiffman
Warren Coats
In order to improve the performance of central banks, monetary arrangements should be designed to anchor monetary policy to long-run considerations and to establish specific accountability for its implementation. In order to strengthen the long-run view needed for monetary stability against the short-run problem solving perspective more typical of governments and parliaments, there has been a growing movement in recent years in all regions of the world toward increasing central banks' independence from governments and parliaments. In all countries, the responsibility for the monetary system is ultimately the state’s. This responsibility is often explicit in a country's constitution. Central bank …