Week 2-1

Introduction and Overview: Great Depressions in the 20th Century

Ritschl, Albrecht, and Tobias Straumann, "Business Cycles and Economic Policy, 1914-1945", forthcoming in: Kevin O'Rourke and Stephen Broadberry (eds.), Economic History of Europe (working title), Cambridge: Cambridge University Press.

Week 2-2

Hayek v Friedman: Was Money Too Tight Or Too Loose?

Friedman, Milton, and Anna Schwartz (1963), A Monetary History of the United States 1867-1960, Princeton: Princeton University Press, pp. 299-331.

Revisiting the Monetary Hypothesis

Ritschl, Albrecht, and Ulrich Woitek (2006), "Did Monetary Forces Cause the Great Depression? A Bayesian VAR Analysis"

Week 3-2

A Housing Bubble? Keynesianism v Fisher

Hansen, Alvin (1939), "Economic Progress and Declining Population Growth,"; American Economic Review 29, 1-15.

Keynes, John M. (1937), "Some Economic Consequences of a Declining Population", Eugenics Review 29, 13-17.

Tarascio, Vincent (1971), " Keynes on the Sources of Economic Growth, Journal of Economic History 31, 429-444.

Week 4-1

A Bubble in the 1929 Stock Market?

Rappoport, Peter; Eugene White (1993) " Was There A Bubble in the 1929 Stock Market?", Journal of Economic History 53, 549-574.

McGrattan, Ellen; Edward C. Prescott (2004) "The 1929 Stock Market: Irving Fisher Was Right", International Economic Review 45, 991-1009.

Week 4-2

It's Crunch Time, Ben: The Financial Accelerator

Bernanke, Ben (2000), " Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression", in:
Ben Bernanke, Essays on the Great Depression, Princeton: Princeton University Press, 41-69.

Week 5-1

Revisiting the Financial Accelerator Hypothesis

Ben S. Bernanke, Mark Gertler (1995), "Inside the Black Box: The Credit Channel of Monetary Policy Transmission",
Journal of Economic Perspectives 9, pp. 27-48.

Week 5-2

Projects

Week 6-1

Animal Spirits? The Keynesian Hypothesis Revisited

Sharon Harrison and Mark Weder (2006), "Did Sunspot Forces Cause the Great Depression?",
Journal of Monetary Economics 53, 1327-1339

Week 6-2

Monopoly Power and Trade Unionism: The Supply Side View

Harold Cole and Lee Ohanian (1999),
"The Great Depression in The United States from a Neoclassical Perspective",
Federal Reserve Bank of Minnesota Quarterly Review 23, 2-24.

Harold Cole and Lee Ohanian (2002),
"The Great Depression in The United States and the United Kingdom Through the Lens of Neoclassical Growth Theory", American Economic Review 92(2), 28-32.

Monique Ebell and Albrecht Ritschl (2008),
"Real Origins of the Great Depression: Monopoly Power, Unions and the American Business Cycle in the 1920s",
CEP Discussion Paper, LSE.

Weeks 7-8: Europe and the Great Depression

Week 7-1

Europe and the Great Depression

Week 7-2

A Tale of Two Recoveries: the U.S. and Germany, 1933-1937

Week 8-1

Europe’s Great Depression, 1920-1960; A Long Term View

Week 8-2

The Macroeconomic Effects of the two World Wars