The DOI matches its Crossref record; 52 of the 52 references it cites were found in a registry or an index.
Great Expectations and the End of the Depression
Open accessAbstract
This paper suggests that the US recovery from the Great Depression was driven by a shift in expectations. This shift was caused by President Franklin Delano Roosevelt's policy actions. On the monetary policy side, Roosevelt abolished the gold standard and—even more importantly—announced the explicit objective of inflating the price level to pre-Depression levels. On the fiscal policy side, Roosevelt expanded real and deficit spending, which made his policy objective credible. These actions violated prevailing policy dogmas and initiated a policy regime change as in Sargent (1983) and Temin and Wigmore (1990). The economic consequences of Roosevelt are evaluated in a dynamic stochastic general equilibrium model with nominal frictions. (JEL D84, E52, E62, N12, N42)
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Cites
Filders, R. (1992) · International Journal of Forecasting · doi:10.1016/0169-2070(92)90130-2 · Cited by 16,165
The General Theory of Employment, Interest and Money.
Schumpeter, J. A., & Keynes, J. M. (1936) · Journal of the American Statistical Association · doi:10.2307/2278703 · Cited by 14,485
Rules Rather than Discretion: The Inconsistency of Optimal Plans
Kydland, F. E., & Prescott, E. C. (1977) · Journal of Political Economy · doi:10.1086/260580 · Cited by 7,905
Staggered prices in a utility-maximizing framework
Calvo, G. A. (1983) · Journal of Monetary Economics · doi:10.1016/0304-3932(83)90060-0 · Cited by 7,901
(2012) · American Economic Review · doi:10.1257/aer.102.7.i · Cited by 6,810
Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Christiano, L. J., Eichenbaum, M., & Evans, C. L. (2005) · Journal of Political Economy · doi:10.1086/426038 · Cited by 6,238
The General Theory of Employment, Interest and Money, by John Maynard Keynes
Beckhart, B. H. (1936) · Political Science Quarterly · doi:10.2307/2143949 · Cited by 6,220
Time to Build and Aggregate Fluctuations
Kydland, F. E., & Prescott, E. C. (1982) · Econometrica · doi:10.2307/1913386 · Cited by 5,825
INTEREST AND PRICES: FOUNDATIONS OF A THEORY OF MONETARY POLICY
Woodford, M., & WALSH, C. E. (2005) · Macroeconomic Dynamics · doi:10.1017/s1365100505040253 · Cited by 5,508
The Science of Monetary Policy: A New Keynesian Perspective
Clarida, R., Galí, J., & Gertler, M. (1999) · Journal of Economic Literature · doi:10.1257/jel.37.4.1661 · Cited by 4,916
Cited by
What Fiscal Policy Is Effective at Zero Interest Rates?
Eggertsson, G. B. (2011) · NBER Macroeconomics Annual · doi:10.1086/657529 · Cited by 658
Self-citationInflation Expectations and Readiness to Spend: Cross-Sectional Evidence
Bachmann, R., Berg, T. O., & Sims, E. R. (2015) · American Economic Journal: Economic Policy · doi:10.1257/pol.20130292 · Cited by 317
Bianchi, F., & Melosi, L. (2017) · American Economic Review · doi:10.1257/aer.20160186 · Cited by 220
Metadata
- Authors
- Eggertsson, G. B.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2008-08-01
- Volume
- 98
- Issue
- 4
- Pages
- 1476-1516
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2140025175
- Cited by
- 386
- References
- 52
- FWCI
- 42.47
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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