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Unformatted text preview: B ANKING P ANICS A. What happens during a panic? B. Modeling the effect of a panic 1. Money market 2. IS-LM C. Role of a fall in expected inflation (to expected deflation) 1. Evidence of expected deflation 2. Impact in IS-LM model D. Why didnt the Federal Reserve act? V. G OLD S TANDARD A. Transmission of Great Depression from U.S. to the rest of the world B. Was the Federal Reserve genuinely constrained by the gold standard? C. October 1931 VI. Conclusions A. Monetary factors were very important in the Depression. B. But there were other factors as well....
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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 University of California, Berkeley.
- Spring '12