The course of the Great Depression
Heinemeyer, Hans Christian ;  ;  Universität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft

HaupttitelThe course of the Great Depression
Titelzusatza consistent business cycle dating approach
AutorHeinemeyer, Hans Christian
HerausgeberUniversität <Berlin, Freie Universität> / Fachbereich Wirtschaftswissenschaft
Seitenzahl54 S.
Schriftenreihe ; 2007,14 : Volkswirtschaftliche Reihe
DDC330 Wirtschaft
Auch erschienen in
ZusammenfassungThis study dates business cycles in 10 European countries, the
United States, and Japan between 1925 and 1936. The aim is to
establish a consistent dating of the world economic crisis, which is a
precondition for understanding the sharp economic decline in many
countries during the interwar period.
Three approaches were applied that are common in business cycle
dating. First, a deskriptive analysis infers on recessions based on
the two-consecutive quarters approach often associated with the US
National Bureau of Economic Research. Second, the time series is
decomposed into trend and cycle using the Hodrick-Prescott (1980)
filter. The third approach is to use Markov-regime switching models,
which was proposed by Hamilton (1989) for such purposes.
The results of confirm that the Great Depression was a global
phenomenon, not limited to the US or Germany. Business cycle comovement
in the interwar period is at a level comparable to the post-
WWII period. This finding points at the contribution of international
business cycle integration to the course of the decline in single countries.
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Fachbereich/EinrichtungFB Wirtschaftswissenschaft
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Erstellt am11.06.2008 - 09:13:43
Letzte Änderung05.01.2016 - 14:38:11
Statische URLhttp://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000000209