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Understanding Economic Recovery in the 1930s : Endogenous Propagation in the Great Depression. 1930年代の経済復興を理解する
・ISBN 978-0-472-11348-4 cloth US$ 84.95
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| 著者・編者 | Steindl, Frank G., |
|---|---|
| 出版社 | (U. Michigan Pr., US) |
| 出版年月 | 2004 |
| ページ数 | 228 pp. |
| 言語 | ENG |
| ニュース番号 | ＜500-500 507-399＞ |
解説
Although much has been published about the economic downturn that began in mid-1929, very little has been written about the recovery from this cataclysmic period. Long, tortuous, and uneven as it was, there was indeed a recovery. In this important book, Steindl explores the much-neglected topic of the recovery, concentrating in particular on the macroeconomic developments responsible for the move back to a pre-Depression level economy.
Providing strong evidence for the role of the quantity of money in the revitalization, the author ultimately concludes that the seemingly robust monetary explanation of the recovery is deficient, as is any that relies principally on aggregate demand impulses. An accurate understanding of this phenomenon must account for the inherent tendency of the economy to revert to its long-run high employment trend.
Frank G. Steindl is Regents Professor of Economics and Ardmore Professor of Business Administration, Oklahoma State University.