Gorodnichenko, Yuriy; Mendoza, Enrique G.; Tesar, Linda L. - 2009
During the period 1991-93, Finland experienced the deepest economic downturn in an industrialized country since the …, because it induced a costly restructuring of the manufacturing sector and a sudden, large increase in the cost of energy. We … 1930s. We argue that the culprit behind this Great Depression was the collapse of Finnish trade with the Soviet Union …