Lecture 2 Outline

Lecture 2 Outline - B. Stock market crash C. Financial...

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Economics 134 Professor Christina Romer Spring 2012 Professor David Romer LECTURE 2 OVERVIEW OF THE GREAT DEPRESSION January 19, 2012 I. E VOLUTION OF THE M ACROECONOMIC E NVIRONMENT A. Declining role of agriculture B. Development of nominal rigidity C. Macroeconomic institutions and policy tools II. T HE 1920 S A. GDP growth and inflation B. Rising inequality C. Stock price bubble III. T HE G REAT D EPRESSION A. Collapse of aggregate demand
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Unformatted text preview: B. Stock market crash C. Financial panics, the decline in the money supply, and deflation D. Fiscal policy E. International factors F. Severity of the downturn IV. T HE R ECOVERY FROM THE G REAT D EPRESSION A. Timing and strength B. Monetary policy at the zero lower bound C. Fiscal expansion D. The recession of 1937-38 V. W ORLD W AR II A. Impact of the fiscal expansion B. Consequences of rising debt...
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This note was uploaded on 02/28/2012 for the course ECON 134 taught by Professor Davidromer during the Spring '12 term at Berkeley.

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