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The prelude and global impact of the Great Depression: Evidence from a new macroeconomic dataset

Albers, Thilo LU (2018) In Explorations in Economic History 70. p.150-163
Abstract
Based on a novel dataset of about 1150 time series, this study provides monthly economic activity estimates for 28 countries during the Great Depression. Due to their high frequency, the indices reveal that steady growth was far from universal even in the second half of the 1920s. Monetary and financial instability, agricultural crises, and labor conflict continued to plague economies around the globe. The high frequency of the data also facilitates a global comparison of the severity of the Great Depression along two dimensions: the cumulative loss and duration. The variation along these two dimensions across and within countries indicates a rising importance of the trade channel at the later stages of the crisis. Finally, the study... (More)
Based on a novel dataset of about 1150 time series, this study provides monthly economic activity estimates for 28 countries during the Great Depression. Due to their high frequency, the indices reveal that steady growth was far from universal even in the second half of the 1920s. Monetary and financial instability, agricultural crises, and labor conflict continued to plague economies around the globe. The high frequency of the data also facilitates a global comparison of the severity of the Great Depression along two dimensions: the cumulative loss and duration. The variation along these two dimensions across and within countries indicates a rising importance of the trade channel at the later stages of the crisis. Finally, the study highlights promising avenues for future research on the Great Depression.
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author
publishing date
type
Contribution to journal
publication status
published
subject
in
Explorations in Economic History
volume
70
pages
150 - 163
publisher
Elsevier
external identifiers
  • scopus:85053840395
ISSN
0014-4983
DOI
10.1016/j.eeh.2018.08.004
language
English
LU publication?
no
id
b0e13ac6-6d67-41c8-aed1-b57c8ea0f22b
date added to LUP
2019-05-16 11:45:22
date last changed
2020-12-29 04:32:59
@article{b0e13ac6-6d67-41c8-aed1-b57c8ea0f22b,
  abstract     = {Based on a novel dataset of about 1150 time series, this study provides monthly economic activity estimates for 28 countries during the Great Depression. Due to their high frequency, the indices reveal that steady growth was far from universal even in the second half of the 1920s. Monetary and financial instability, agricultural crises, and labor conflict continued to plague economies around the globe. The high frequency of the data also facilitates a global comparison of the severity of the Great Depression along two dimensions: the cumulative loss and duration. The variation along these two dimensions across and within countries indicates a rising importance of the trade channel at the later stages of the crisis. Finally, the study highlights promising avenues for future research on the Great Depression.<br/>},
  author       = {Albers, Thilo},
  issn         = {0014-4983},
  language     = {eng},
  pages        = {150--163},
  publisher    = {Elsevier},
  series       = {Explorations in Economic History},
  title        = {The prelude and global impact of the Great Depression: Evidence from a new macroeconomic dataset},
  url          = {http://dx.doi.org/10.1016/j.eeh.2018.08.004},
  doi          = {10.1016/j.eeh.2018.08.004},
  volume       = {70},
  year         = {2018},
}