Essays on the Great Depression

By Ben S. Bernanke | Go to book overview
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Abel, Andrew, 57n26
aggregate demand. See demand, aggregate
aggregate output. See output, aggregate
aggregate supply. See supply, aggregate
Altonji, Joseph, 167, 206
American Banker, 55
American Bankers Association, 63–64
Argentina: banking crisis, 91, 93; gold standard, 17n9
Ashenfelter, Orley, 167, 206
Australia: deflation, 80–81, 83; gold standard, 74; wages and aggregation bias, 299; wages and the gold standard, 85
Austria: banking crisis, 65, 90–91, 94–96; deflation, 81, 83; failure of the Kreditanstalt, 11, 62, 89, 95–96; gold standard, 74; wages and the gold standard, 85
Baily, Martin Neil, 175, 206n
Ball, Robert, 226, 255
banking panics: crises described by country, 89–94; and deflation, 71–72, 103–5, 110– 11; deflation and industrial production, 97–102; as dummy variable, 288–89, 291; factors explaining which countries suffered, 94–97; and increases in money demand, 132–33; and industrial production, 47–49; macroeconomic effects of, 26–28, 30; and the money multiplier, 126; sources of, 44–45; vulnerability of commercial banks, 80n9
Bank of England, 75, 152
Bank of France, 76–77, 111, 137–42
Bank of the United States, 61–62
bankruptcy: cost of credit intermediation, effect on, 53–55; lack of non-U.S. data, 97; rates of, 41, 46. See also debt
banks: bank holiday of 1933, 59, 62, 115; central, 10–12, 74–78, 111; confidence about soundness of, 11–12; credit intermediation and the banking crisis, 51–55; and debt deflation, 25–26; deflation and depression, 88; failures, 26, 41, 43–44, 59, 61 (see also banking panics); universal banking systems, 25n15. See also financial system
Barro, Robert, 57, 61n29
Belgium: banking crisis, 91, 93–94, 96; deflation, 81, 83; determinants of the money supply, 12–15; gold standard, 74, 281; wages and output, 31; wages and the gold standard, 85
Beney, M. Ada, 243, 260
Bernanke, Ben: banking panics, 26n, 27n, 71, 290n17; debt deflation, 25n14, 32n26; earnings and workweek reduction, 252; exchange-rate regime and macroeconomic performance, 17, 280n6; financial crises and deflation, 278n2–3; financial crisis hypothesis, 26–27, 89, 288–89, 301; gold standard, 16–17, 147; industry data, 260; larger firms and capital needs, 266; macroeconomic per formance and monetary policies, 115; real wages, 32n25, 86; sticky wages, 29–31
Berndt, Ernst, 166
Bernstein, Irving, 171
Bodkin, Ronald, 166n
Bohn, Henning, 235n23
Bordo, Michael, 72
Borenstein, Israel, 261
Bouvier, Jean, 100–101
Brechling, F. P. R., 165–66, 226, 255
Brown, E. Cary, 63n
Bru¨ning, Heinrich, 111, 150
Brunner, Karl, 42n3
Bry, Gerhard, 232
Bureau of Labor Statistics, 169, 243, 260
Burns, Arthur, 163–64, 182
business cycles: cyclical labor market behavior and frequency domain analysis, 176– 79, 182–85; cyclical labor market behavior and recessions, 195–97; cyclical labor market behavior and time do main analysis, 185–95; industry response to, 174– 76; and labor markets, 163–64, 197–99; literature on labor compensation, 166–68; literature on labor utilization, 164–66;


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