Credit constraints and the propagation of the Great Depression in Germany:
We evaluate the role played by loan supply shocks in the decline of investment and industrial production during the Great Depression in Germany from 1927 to 1932. We identify loan supply shocks in the context of a time varying parameter vector autoregression with stochastic volatility. Our results i...
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| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Berlin
Freie Universität Berlin
2019 August
|
| Schriftenreihe: | Discussion paper / Freie Universität Berlin, School of Business & Economics Economics
2019, 12 |
| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | We evaluate the role played by loan supply shocks in the decline of investment and industrial production during the Great Depression in Germany from 1927 to 1932. We identify loan supply shocks in the context of a time varying parameter vector autoregression with stochastic volatility. Our results indicate that credit constraints were a significant driver of industrial production between 1927 and 1932, supporting the view that a structurally weak banking sector was an important contributor to the German Great Depression. We find further that loan supply shocks were an important driver of investment in the early phase of the depression, between 1927 and 1929, but not between 1930 and 1932. We suggest possible explanations for this puzzle and directions for future research |
| Beschreibung: | 1 Online-Ressource (25 Seiten) Diagramme |
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Datensatz im Suchindex
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| language | English |
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| spelling | Adam, Marc C. (DE-588)1214653197 aut Credit constraints and the propagation of the Great Depression in Germany Marc C. Adam and Walter Jansson Berlin Freie Universität Berlin 2019 August 1 Online-Ressource (25 Seiten) Diagramme txt rdacontent c rdamedia cr rdacarrier Discussion paper / Freie Universität Berlin, School of Business & Economics 2019, 12 Economics We evaluate the role played by loan supply shocks in the decline of investment and industrial production during the Great Depression in Germany from 1927 to 1932. We identify loan supply shocks in the context of a time varying parameter vector autoregression with stochastic volatility. Our results indicate that credit constraints were a significant driver of industrial production between 1927 and 1932, supporting the view that a structurally weak banking sector was an important contributor to the German Great Depression. We find further that loan supply shocks were an important driver of investment in the early phase of the depression, between 1927 and 1929, but not between 1930 and 1932. We suggest possible explanations for this puzzle and directions for future research Geschichte 1927-1932 gnd rswk-swf Bayesian Credit supply Great Depression Germany Schock Wirtschaft (DE-588)4322439-8 gnd rswk-swf Kreditgewährung (DE-588)4132159-5 gnd rswk-swf Weltwirtschaftskrise 1929-1932 (DE-588)4079171-3 gnd rswk-swf Deutschland (DE-588)4011882-4 gnd rswk-swf Deutschland (DE-588)4011882-4 g Kreditgewährung (DE-588)4132159-5 s Schock Wirtschaft (DE-588)4322439-8 s Weltwirtschaftskrise 1929-1932 (DE-588)4079171-3 s Geschichte 1927-1932 z DE-188 Jansson, Walter aut Freie Universität Berlin, School of Business & Economics Discussion paper 2019, 12 : Economics (DE-604)BV026641400 2019,12 https://refubium.fu-berlin.de/handle/fub188/25248 Resolving-System kostenfrei Volltext |
| spellingShingle | Adam, Marc C. Jansson, Walter Credit constraints and the propagation of the Great Depression in Germany Bayesian Credit supply Great Depression Germany Schock Wirtschaft (DE-588)4322439-8 gnd Kreditgewährung (DE-588)4132159-5 gnd Weltwirtschaftskrise 1929-1932 (DE-588)4079171-3 gnd |
| subject_GND | (DE-588)4322439-8 (DE-588)4132159-5 (DE-588)4079171-3 (DE-588)4011882-4 |
| title | Credit constraints and the propagation of the Great Depression in Germany |
| title_auth | Credit constraints and the propagation of the Great Depression in Germany |
| title_exact_search | Credit constraints and the propagation of the Great Depression in Germany |
| title_full | Credit constraints and the propagation of the Great Depression in Germany Marc C. Adam and Walter Jansson |
| title_fullStr | Credit constraints and the propagation of the Great Depression in Germany Marc C. Adam and Walter Jansson |
| title_full_unstemmed | Credit constraints and the propagation of the Great Depression in Germany Marc C. Adam and Walter Jansson |
| title_short | Credit constraints and the propagation of the Great Depression in Germany |
| title_sort | credit constraints and the propagation of the great depression in germany |
| topic | Bayesian Credit supply Great Depression Germany Schock Wirtschaft (DE-588)4322439-8 gnd Kreditgewährung (DE-588)4132159-5 gnd Weltwirtschaftskrise 1929-1932 (DE-588)4079171-3 gnd |
| topic_facet | Bayesian Credit supply Great Depression Germany Schock Wirtschaft Kreditgewährung Weltwirtschaftskrise 1929-1932 Deutschland |
| url | https://refubium.fu-berlin.de/handle/fub188/25248 |
| volume_link | (DE-604)BV026641400 |
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