Bernanke, Ben S; Carey, Kevin - In: The Quarterly Journal of Economics 111 (1996) 3, pp. 853-83
Building on earlier work by Barry Eichengreen and Jeffrey Sachs, the authors use data for twenty-two countries to study the role of wage stickiness in propagating the Great Depression. Recent research suggests that monetary shocks, transmitted internationally by the gold standard, were a major...