search query: @author Karras, G. / total: 7
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| Author: | Cecchetti, S. Karras, G. |
| Title: | Sources of output fluctuations during the interwar period: further evidence on the causes of the great depression |
| Journal: | Review of Economics and Statistics
1994 : FEB, VOL. 76:1, p. 80-102 |
| Index terms: | ECONOMICS SUPPLY AND DEMAND STOCK MARKETS |
| Language: | eng |
| Abstract: | This paper decomposes output fluctuations during the 1913 to 1940 period into components resulting from aggregate supply and aggregate demand shocks. The authors estimate a number of structural models, all of which yield qualitatively similar results. While identification is normally achieved by assuming that aggregate demand shocks have no long-run real effects, the authors also estimate models that allow demand shocks to permanently affect output. |
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