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2010

Great Depression

Articles 1 - 4 of 4

Full-Text Articles in Social and Behavioral Sciences

Ua37/29 Gary Ransdell - Federal Reserve Board - Ben Bernanke Town Hall Meeting, St. Louis Federal Reserve Board Oct 2010

Ua37/29 Gary Ransdell - Federal Reserve Board - Ben Bernanke Town Hall Meeting, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's town hall meeting with educators.

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The Procyclical Behavior Of Total Factor Productivity In The United States, 1890-2004, Alexander J. Field Jun 2010

The Procyclical Behavior Of Total Factor Productivity In The United States, 1890-2004, Alexander J. Field

Economics

Between 1890 and 2004 total factor productivity (TFP) growth in the United States has been strongly procyclical, while labor productivity growth has been mildly so. This article argues that these results are not simply a statistical artifact, as Mathew Shapiro and others have argued. Procyclicality resulted principally from demand shocks interacting with capital services which are relatively invariant over the cycle. This account contrasts with explanations emphasizing labor hoarding as well as those offered by the real business cycle (RBC) program, in which TFP shocks (deviations from trend) are themselves the cause of cycles.

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They Built Our Community: Relief Work During The Great Depression, Lois M. Quinn Jan 2010

They Built Our Community: Relief Work During The Great Depression, Lois M. Quinn

ETI Publications

This booklet describes a number of work relief projects operating in Milwaukee County in the 1930s with lasting positive impacts on the county. Highlights include construction of the Village of Greendale by the WPA and Resettlement Authority, support for health department inoculations of children, introduction of hot lunch programs for rural school children, construction of the Milwaukee water filtration plant, toy loan projects, and development of one of the finest park systems in the nation.

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The Great Depression In Belgium: An Open-Economy Analysis, Luca Pensieroso Dec 2009

The Great Depression In Belgium: An Open-Economy Analysis, Luca Pensieroso

Luca Pensieroso

This paper studies the Great Depression in Belgium within the open-economy dynamic general equilibrium approach. Results from the simulations show that a two-good model with total factor productivity shocks and nominal exchange rate shocks can account for most of the 1929-1934 output drop. The data mimicking ability of the model is good along other dimensions as well, most notably hours worked, the consumption price index and the terms of trade. The model is also able to catch some of the dynamics of imports and exports.

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