AGRICULTURAL CRISES AND THE INTERNATIONAL TRANSMISSION OF THE GREAT DEPRESSION
研究了农业危机在大萧条国际传导中的作用，利用16国面板数据表明农产品价格下跌对物价、消费和投资产生负面影响，并成为萧条跨国传导的重要渠道。
This article examines the role of the agricultural crisis in the international transmission of the Great Depression and assesses the direct and indirect macroeconomic effects of the agricultural price decline. Using panel data for 16 countries, it is shown that the decline in agricultural prices adversely affected the general price level, consumption and investment. Furthermore, it is shown that the agricultural price decline was an important vehicle by which the Depression was transmitted internationally.