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Book/Printed Material Money and interest rates in the United States during the Great Depression

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Title

  • Money and interest rates in the United States during the Great Depression

Summary

  • "This paper reexamines the debate over whether the United States fell into a liquidity trap in the 1930s. We first review the literature on the liquidity trap focusing on Keynes's discussion of "absolute liquidity preference" and the division that soon emerged between Keynes, who believed that a liquidity trap had not been reached, and the American Keynesians who believed that the United States had fallen into a liquidity trap. We then explore several interest rates that have been neglected in previous analyses: yields on corporate debt (from Aaa to junk), bank lending rates, and mortgage rates. In general, our results strengthen the case for believing that there was no liquidity trap in the 1930s in the sense of one that covered the full spectrum of interest rates. The small segment of time in which a liquidity trap might have been present, however, makes drawing firm conclusions risky"--National Bureau of Economic Research web site.

Names

  • Basile, Peter F.
  • Landon-Lane, John S.
  • Rockoff, Hugh
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2010.

Notes

  • -  Title from PDF file as viewed on 8/19/2010.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2010656362

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Cite This Item

Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

Basile, Peter F, John S Landon-Lane, Hugh Rockoff, and National Bureau Of Economic Research. Money and interest rates in the United States during the Great Depression. Cambridge, MA: National Bureau of Economic Research, 2010. Pdf. https://aj.sunback.homes/item/2010656362/.

APA citation style:

Basile, P. F., Landon-Lane, J. S., Rockoff, H. & National Bureau Of Economic Research. (2010) Money and interest rates in the United States during the Great Depression. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://aj.sunback.homes/item/2010656362/.

MLA citation style:

Basile, Peter F, et al. Money and interest rates in the United States during the Great Depression. Cambridge, MA: National Bureau of Economic Research, 2010. Pdf. Retrieved from the Library of Congress, <aj.sunback.homes/item/2010656362/>.