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作者:University of New Mexico
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作者:Communaute Universite Grenoble Alpes; Universite Grenoble Alpes (UGA)
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作者:University System Of New Hampshire; University of New Hampshire
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作者:Western University (University of Western Ontario)
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作者:University of Arizona
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作者:Montana State University System; Montana State University Bozeman
摘要:This article uses 1937 and 1940 Census data to estimate the effect that hiring an additional relief worker in a county had on unemployment statistics for that county. The fundamental estimation problem arises because one cannot easily control for economic conditions that influenced both the number of individuals holding relief jobs and the number counted as jobless. To solve the problem, electoral data are used as instrumental variables. The econometric results suggest that additional relief h...
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作者:Seattle University
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作者:University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
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作者:Macalester College; Providence College
摘要:This study examines the interplay between financial crises, uncertainty, and economic growth during the interwar period. Comparing the experiences often countries, we provide evidence that reductions in the credibility of a country's commitment to the gold standard generated capital flight and higher interest rate volatility. This volatility, in turn, was inversely correlated with economic growth. These results suggest that financial crises helped propagate the Great Depression, in part, by in...
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作者:American University
摘要:I examine the change in prices of foreign foreign sovereign dollar bonds over several weeks in 1930 that marked major legislative progress for the Smoot-Hawley tariffs. If the market was preoccupied by anticipated debt-repayment problems arising from the tariffs, this should be visible in the cross country pattern of bond prices. The bond price data are compared to indicators of country sensitivity to the tariffs and debt service. A significant relationship is found for bond price changes in J...