IDEAS home Printed from https://ideas.repec.org/p/nbr/nberwo/15645.html
   My bibliography  Save this paper

The Great Recession and the Great Depression

Author

Listed:
  • Peter Temin

Abstract

This paper discusses parallels between our current recession and the Great Depression for the intelligent general public. It stresses the role of economic models and ideas in public policy and argues that gold-standard mentality still holds sway today. The parallels are greatest in the generation of the crises, and they also illuminate the policy choices being made today. We have escaped a repeat of the Depression, but we appear to have lost the opportunity for significant financial reform.

Suggested Citation

  • Peter Temin, 2010. "The Great Recession and the Great Depression," NBER Working Papers 15645, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:15645
    Note: DAE EFG ME
    as

    Download full text from publisher

    File URL: http://www.nber.org/papers/w15645.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Klein, Alexander & Otsuy, Keisuke, 2013. "Efficiency, Distortions and Factor Utilization during the Interwar Period," CAGE Online Working Paper Series 147, Competitive Advantage in the Global Economy (CAGE).
    2. Philip Du Caju & Guillaume Périlleux & François Rycx & Ilan Tojerow, 2021. "A Bigger House at the Cost of an Empty Fridge? The Effect of Households' Indebtedness on Their Consumption: Micro-Evidence Using Belgian HFCS Data," LIDAM Discussion Papers IRES 2021008, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    3. Alex Klein & Keisuke Otsu, 2013. "Efficiency, Distortions and Factor Utilization during the Interwar Period," Studies in Economics 1317, School of Economics, University of Kent.
    4. Flandreau, Marc, 2017. "Reputation, Regulation and the Collapse of International Capital Markets, 1920-1935," CEPR Discussion Papers 11747, C.E.P.R. Discussion Papers.
    5. Philip Caju & Guillaume Périlleux & François Rycx & Ilan Tojerow, 2023. "A bigger house at the cost of an empty stomach? The effect of households’ indebtedness on their consumption: micro-evidence using Belgian HFCS data," Review of Economics of the Household, Springer, vol. 21(1), pages 291-333, March.
    6. Fabio C. Bagliano & Claudio Morana, 2011. "Macro-finance interactions in the US: A global perspective," Working papers 23, Former Department of Economics and Public Finance "G. Prato", University of Torino.
    7. Ralph Hippe & Damien Demailly & Claude Diebolt, 2022. "The Digital Transition for a Sustainable Mobility Regime? A Long-Run Perspective," Working Papers of BETA 2022-19, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    8. Uddin, Godwin, 2020. "Prudential guidelines and financial system stability in Nigeria," MPRA Paper 104964, University Library of Munich, Germany.
    9. Liu, Guoping & Sun, Jerry, 2021. "Independent directors’ legal expertise, bank risk-taking and performance," Journal of Contemporary Accounting and Economics, Elsevier, vol. 17(1).
    10. Parimal Kumar Giri & Sagar S. De & Sachidananda Dehuri & Sung‐Bae Cho, 2021. "Biogeography based optimization for mining rules to assess credit risk," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 28(1), pages 35-51, January.
    11. Bagliano, Fabio C. & Morana, Claudio, 2012. "The Great Recession: US dynamics and spillovers to the world economy," Journal of Banking & Finance, Elsevier, vol. 36(1), pages 1-13.
    12. Uribe Gil, Jorge Mario & Ulloa Villegas, Inés Maria, 2012. "La medición del riesgo en eventos extremos. Una revisión metodológica en contexto," Revista Lecturas de Economía, Universidad de Antioquia, CIE, June.
    13. Borce Trenovski & Biljana Tashevska & Suzana Makreshanska, 2015. "The Global Economic Crisis - What Should Not Be Forgotten," Journal Articles, Center For Economic Analyses, pages 99-112, June.
    14. Byeong U. Park & Léopold Simar & Valentin Zelenyuk, 2020. "Forecasting of recessions via dynamic probit for time series: replication and extension of Kauppi and Saikkonen (2008)," Empirical Economics, Springer, vol. 58(1), pages 379-392, January.
    15. Jimenez, Edgar & Suau-Sanchez, Pere, 2020. "Reinterpreting the role of primary and secondary airports in low-cost carrier expansion in Europe," Journal of Transport Geography, Elsevier, vol. 88(C).
    16. Gary Hawke, 2011. "Financial Crises And Knowledge, Historical And Analytical," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 51(1), pages 1-21, March.
    17. Xiao, Zengqi & Lam, Jasmine Siu Lee, 2019. "Willingness to take contractual risk in port public-private partnerships under economic volatility: The role of institutional environment in emerging economies," Transport Policy, Elsevier, vol. 81(C), pages 106-116.
    18. Susanne Bärenthaler-Sieber & Sandra Bilek-Steindl & Christian Glocker, 2013. "Trade Synchronisation During Major Economic Crises," WIFO Working Papers 449, WIFO.
    19. Brent A. Evans, 2015. "Did Economic Literacy Influence Macroeconomic Policy Preferences of the General Public during the Financial Crisis?," The American Economist, Sage Publications, vol. 60(2), pages 132-141, September.
    20. Alois Guger, 2012. "Einkommensverteilung als Krisenursache," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 38(2), pages 345-356.
    21. repec:clr:wugarc:y:2012:v:38i:2p:345 is not listed on IDEAS
    22. Riccardo De Bonis & Giuseppe Marinelli & Francesco Vercelli, 2023. "Bank lending in the Great Recession and in the Great Depression," Empirical Economics, Springer, vol. 64(2), pages 567-602, February.
    23. Feng Ma & Xinjie Lu & Lu Wang & Julien Chevallier, 2021. "Global economic policy uncertainty and gold futures market volatility: Evidence from Markov regime‐switching GARCH‐MIDAS models," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 40(6), pages 1070-1085, September.

    More about this item

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:15645. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/nberrus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.