Replication data for: Great Expectations and the End of the Depression
Principal Investigator(s): View help for Principal Investigator(s) Gauti B. Eggertsson
Version: View help for Version V1
Name | File Type | Size | Last Modified |
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CoefficientsY.mat | application/octet-stream | 279 bytes | 10/12/2019 04:27:AM |
Coefficientsmod.mat | application/octet-stream | 278 bytes | 10/12/2019 04:27:AM |
Documentation.doc | application/msword | 24 KB | 10/12/2019 04:27:AM |
EquationFunctionNewY.m | text/plain | 2.6 KB | 10/12/2019 04:27:AM |
EquationFunctionmod.m | text/plain | 2.2 KB | 10/12/2019 04:27:AM |
FDRRegimerevised.m | text/plain | 2.2 KB | 10/12/2019 04:27:AM |
FDRdataaer.xls | application/vnd.ms-excel | 1.2 MB | 10/12/2019 04:27:AM |
Figure1.m | text/plain | 5.8 KB | 10/12/2019 04:27:AM |
Figure2.m | text/plain | 2.9 KB | 10/12/2019 04:28:AM |
Figure3_datavsmodel.asv | text/plain | 4.5 KB | 10/12/2019 04:27:AM |
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Project Citation:
Eggertsson, Gauti B. Replication data for: Great Expectations and the End of the Depression. Nashville, TN: American Economic Association [publisher], 2008. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113257V1
Project Description
Summary:
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This paper suggests that the US recovery from the Great Depression was driven
by a shift in expectations. This shift was caused by President Franklin Delano
Roosevelt's policy actions. On the monetary policy side, Roosevelt abolished
the gold standard and -- even more importantly -- announced the explicit objective
of inflating the price level to pre-Depression levels. On the fiscal policy
side, Roosevelt expanded real and deficit spending, which made his policy
objective credible. These actions violated prevailing policy dogmas and initiated
a policy regime change as in Sargent (1983) and Temin and Wigmore
(1990). The economic consequences of Roosevelt are evaluated in a dynamic
stochastic general equilibrium model with nominal frictions. (JEL D84, E52,
E62, N12, N42)
Scope of Project
JEL Classification:
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D84 Expectations; Speculations
E52 Monetary Policy
E62 Fiscal Policy
N12 Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: U.S.; Canada: 1913-
N42 Economic History: Government, War, Law, International Relations, and Regulation: U.S.; Canada: 1913-
D84 Expectations; Speculations
E52 Monetary Policy
E62 Fiscal Policy
N12 Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: U.S.; Canada: 1913-
N42 Economic History: Government, War, Law, International Relations, and Regulation: U.S.; Canada: 1913-
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