Non-Monetary Effects of the Financial Crisis in the Propagation of the Great Depression
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This paper examines the effects of the financial crisis of the 1930s onthe path of aggregate output during that period. Our approach is complementary to that of Friedman and Schwartz, who emphasized the monetary impact of the bank failures; we focus on non-monetary (primarily credit-related) aspects
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美国国家经济研究局创建时间：
1983-01-01
