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2010-02-04Buch DOI: 10.18452/4242
Crisis? What Crisis?
dc.contributor.authorRitschl, Albrecht
dc.contributor.authorSarferaz, Samad
dc.date.accessioned2017-06-16T00:05:59Z
dc.date.available2017-06-16T00:05:59Z
dc.date.created2010-05-27
dc.date.issued2010-02-04
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4894
dc.description.abstractThis paper examines the role of currency and banking in the German financial crisis of 1931 for both Germany and the U.S. We specify a structural dynamic factor model to identify financial and monetary factors separately for each of the two economies. We find that monetary transmission through the Gold Standard played only a minor role in causing and propagating the crisis, while financial distress was important. We also find evidence of crisis propagation from Germany to the U.S. via the banking channel. Banking distress in both economies was apparently not endogenous to monetary policy. Results confirm Bernanke's (1983) conjecture that an independent, non-monetary financial channel of crisis propagation was operative in the Great Depression.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectGreat Depressioneng
dc.subject1931 financial crisiseng
dc.subjectinternational business cycle transmissioneng
dc.subjectBayesian factor analysiseng
dc.subjectcurrencyeng
dc.subjectbankingeng
dc.subject.ddc330 Wirtschaft
dc.titleCrisis? What Crisis?
dc.typebook
dc.subtitleCurrency vs. Banking in the Financial Crisis of 1931
dc.identifier.urnurn:nbn:de:kobv:11-100111275
dc.identifier.doihttp://dx.doi.org/10.18452/4242
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages59
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2010
local.edoc.container-issue14
local.edoc.container-year2010
local.edoc.container-erstkatid2195055-6

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