Pensieroso, Luca - In: Cliometrica, Journal of Historical Economics and … 5 (2011) 2, pp. 101-119
The Great Depression of the 1930s is again on the frontier of research in macroeconomics. Researchers working in the real business cycle (RBC) tradition have recently started to apply their theoretical apparatus to the event. This paper discusses the result of their work and assesses the role of...