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The Fisher Relation in the Great Depression and the Great Recession

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Abstract

The Fisher relation played a very different role in debates surrounding the Great Depression and the more recent Great Recession. This paper explores some of these differences, and suggests an explanation for them derived from a sketch of the idea’s evolution between the two events, thus providing a brief case study of the interaction of economic ideas and economic events that is a central feature of the History of Economic Thought.

Suggested Citation

  • David Laidler, 2013. "The Fisher Relation in the Great Depression and the Great Recession," University of Western Ontario, Economic Policy Research Institute Working Papers 20132, University of Western Ontario, Economic Policy Research Institute.
    • Handle: RePEc:uwo:epuwoc:20132
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    File URL: https://ir.lib.uwo.ca/cgi/viewcontent.cgi?article=1069&context=economicsepri_wp
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    References listed on IDEAS

    as
    1. Laidler, David, 1988. "Some Macroeconomic Implications of Price Stickiness," The Manchester School of Economic & Social Studies, University of Manchester, vol. 56(1), pages 37-54, March.
    2. David E. Laidler, 1988. "Taking Money Seriously," Canadian Journal of Economics, Canadian Economics Association, vol. 21(4), pages 687-713, November.
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Links for 03-19-2013
      by Mark Thoma in Economist's View on 2013-03-19 05:06:00

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    More about this item

    Keywords

    Interest rates; nominal vs. real; Inflation; deflation; expectations; depression; recession; Keynesian Economics; Monetarism; Monetary Policy;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects

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