Financial crisis and the great depression: a regime switching approach.: An article from: Journal of Money, Credit & Banking

This digital document is an article from Journal of Money, Credit & Banking, published by Ohio State University Press on February 1, 2002. The length of the article is 8344 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the author: I explore the timing of and effects of the U.S. financial crisis of the 1930s in a regime switching framework. Estimated conditional probabilities over the state of the financial sector suggest that a prolonged period of crisis begins not with the 1929 stock market crash, but with the first banking panic of October 1930. These probabilities also suggest that the crisis persists until the introduction of federal deposit insurance in early 1934. Consistent with the view that this financial crisis had real effects, these conditional probabilities contain additional explanatory power for output fluctuations. This is in addition to that provided by the money stock.

Citation Details
Title: Financial crisis and the great depression: a regime switching approach.
Author: Patrick J. Coe
Publication:Journal of Money, Credit & Banking (Refereed)
Date: February 1, 2002
Publisher: Ohio State University Press
Volume: 34 Issue: 1 Page: 76(18)

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