Was Expansionary Monetary Policy Feasible During the Great Contraction? An Examination of the Gold Standard Constraint
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The recent consensus view, that the gold standard was the leading cause of the worldwide Great Depression 1929-33, stems from two propositions: (1) Under the gold standard, deflationary shocks were transmitted between countries and, (2) for most countries, continued adherence to gold prevented
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美国国家经济研究局创建时间：
1999-05-01
