Lessons from the 1930s Great Depression
综述了大萧条，重点分析美国银行危机的成因与不当解决、财政货币政策执行、金本位在国际传导中的作用，并讨论对当今宏观经济的启示。
This paper provides a survey of the Great Depression comprising both a narrative account and a detailed review of the empirical evidence, focusing especially on the experience of the United States. We examine the reasons for and flawed resolution of the American banking crisis, as well as the conduct of fiscal and monetary policy. We also consider the pivotal role of the gold standard in the international transmission of the slump and leaving gold as a route to recovery. Policy lessons for today from the Great Depression are discussed, as are some implications for macroeconomics.