کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5068869 | 1373014 | 2013 | 19 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The French Great Depression: A business cycle accounting analysis
ترجمه فارسی عنوان
افسردگی بزرگ فرانسه: تجزیه و تحلیل حسابداری چرخه تجاری
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
علوم انسانی و هنر
تاریخ
چکیده انگلیسی
Using the business cycle accounting framework [Chari V., P. Kehoe and E. McGrattan 2007. Business cycle accounting. Econometrica 75, 781-836.], this paper sheds new light on the French Great Depression. Frictions that reduce the efficiency with which factor inputs are used (efficiency wedge) were the primary factor in the economic downturn. The decline in consumption can be attributed to distortions in the Euler equation (investment wedge). In addition, frictions creating a gap between the marginal rate of substitution and the marginal product of labor (labor wedge) contributed to the slowdown of the economy after 1936. This drop in the efficiency wedge might have resulted from financial frictions, whereas the investment wedge might have been caused by financial frictions due to agency costs. Institutional changes in the labor market could serve as a potential explanation for the decline of the labor wedge after 1936.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Explorations in Economic History - Volume 50, Issue 3, July 2013, Pages 427-445
Journal: Explorations in Economic History - Volume 50, Issue 3, July 2013, Pages 427-445
نویسندگان
Slim Bridji,