سال انتشار:
2021
عنوان انگلیسی مقاله:
American business cycles 1889–1913: An accounting approach
ترجمه فارسی عنوان مقاله:
چرخه های تجاری آمریکا 1889-1913: یک رویکرد حسابداری
منبع:
ScienceDirect- Elsevier- Journal of Macroeconomics, 67 (2021) 103285: doi:10:1016/j:jmacro:2020:103285
نویسنده:
Dou Jiang
چکیده انگلیسی:
This paper quantitatively investigates the Depression of the 1890s and the 1907 recession
in the United States. Business Cycle Accounting decomposes economic fluctuations into their
contributing factors. The results suggest that both the 1890s and the 1907 recessions were
primarily caused by factors that affect the efficiency wedge, i.e. slumps in the economy’s factor
productivity. Distortions to the labor wedge played a less important role. Models with financial
market frictions that translate into the efficiency wedge are the most promising candidates for
explaining the recessionary episodes.
keywords: Business cycles Depression of the 1890s | Recession of 1907
قیمت: رایگان
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