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Monday, July 27, 2020 | History

3 edition of Deflation, silent runs, and bank holidays, in the great contraction found in the catalog.

Deflation, silent runs, and bank holidays, in the great contraction

Hugh Rockoff

Deflation, silent runs, and bank holidays, in the great contraction

by Hugh Rockoff

  • 317 Want to read
  • 27 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Banks and banking,
  • Inflation (Finance) -- United States,
  • Deflation (Finance) -- United States

  • Edition Notes

    StatementHugh Rockoff.
    SeriesNBER working paper series -- no. 9522., Working paper series (National Bureau of Economic Research) -- working paper no. 9522.
    ContributionsNational Bureau of Economic Research.
    The Physical Object
    Pagination52 p. :
    Number of Pages52
    ID Numbers
    Open LibraryOL17612049M
    OCLC/WorldCa51938902

    Friedman and Schwartz ascribed culpability to the Fed for what they called the "Great Contraction" because it allegedly pursued deflationary policies in the early 's Unfortunately, for Friedman and Schwartz the causal connection they posited between the deflation and depression of the early 's was purely empirical, based not on sound.   Deflation eventually ends, and the stock market eventually will rebound. That said, stocks generally go up or down in tandem with economic growth, and deflation usually means slow growth or recession.

    The deflation of the Great Depression occurred partly because there was an enormous contraction of credit (money), bankruptcies creating an environment where cash was in frantic demand, and when the Federal Reserve was supposed to accommodate that demand, it instead contracted the money supply by 30% in enforcement of its new real bills. Deflation, Silent Runs, and Bank Holidays, in the Great Contraction NBER Working Paper No. w Number of pages: 52 Posted: 06 Mar Last Revised: 31 Oct

    There are a handful of newsletter writers — but not one economist — who predict deflation. Why no economists? There is an old line, “where there are four economists, there will be five opinions.” You would think that there would be at least one Ph.D-holding economist out there somewhere who is predicting price deflation. Maybe there is, but I have not found him yet.   Selected as one of the "Best Business Books of the Year" by Library Journal, Deflation provides tools for investors to protect their assets and invest profitably in deflationary times, a post-inflation economic environment that few of today's investors have experienced­­and even fewer understand. Lively and easy-to-understand, it tells investors how to recognize telltale signs of deflation Reviews:


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Deflation, silent runs, and bank holidays, in the great contraction by Hugh Rockoff Download PDF EPUB FB2

Hugh Rockoff, "Deflation, Silent Runs, and Bank Holidays, in the Great Contraction," Departmental Working PapersRutgers University, Department of.

Deflation, Silent Runs, and Bank Holidays, in the Great Contraction Hugh Rockoff. NBER Working Paper No. Issued in March NBER Program(s):Development of the American Economy, Monetary Economics This paper argues that the banking crises in the United States in the early s were similar to the twin crises' -- banking and balance of payments crises -- which have occurred in Cited by: 7.

Deflation, Silent Runs, and Bank Holidays, in the Silent runs Contraction Silent Runs, and Bank Holidays, in the Great Contraction 1.

McGraw-Hill Book Company, Author: Hugh Rockoff. Get this from a library. Deflation, silent runs, and bank holidays, in the great contraction.

[Hugh In the great contraction book National Bureau of Economic Research.]. BibTeX @MISC{Rockoff03deflation,silent, author = {Hugh Rockoff and Hugh Rockoff and Hugh Rockoff}, title = {Deflation, Silent Runs, and Bank Holidays, in the Great Contraction}, year = {}}.

Deflation, Silent Runs, and Bank Holidays, in the Great Contraction. By Hugh Rockoff. The deflation that followed further weakened the banks, especially in rural areas where deflation in prices and incomes was the greatest.

These “silent runs,” essentially a capital flight, have been neglected in many accounts of the banking crises. Deflation, Silent Runs, and Bank Holidays, in the Great Contraction. By and Hugh Rockoff and Hugh Rockoff and Hugh Rockoff.

and bank holidays Abstract. The deflation that followed further weakened the banks, especially in rural areas where the deflation in prices and incomes was the greatest. quot;silent runs," essentially a capital flight.

Deflation, silent runs, and bank holidays in the great contraction Hugh Rockhoff; 3. Price change, financial stability, and the British economy, Forrest Capie and Geoffrey Wood; 4. Deflation dynamics in Sweden: perceptions, expectations, and adjustment during the deflations of and Klas Fregert and Lars Jonung; Part : $ CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): This paper examines the monetary history of the United States during the Great Contraction of to from a regional perspective.

Viewing the contraction from a regional perspective does not lead to a radical reinterpretation of the contraction. But it does bring to the fore certain trends that are obscured when. Deflation is the general decline of the price level of goods and services. Deflation is usually associated with a contraction in the supply of money and credit, but prices can also fall due to.

Deflation, silent runs, and bank holidays in the great contraction Hugh Rockhoff; 3. Price change, financial stability, and the British economy, Forrest Capie and Geoffrey Wood; 4.

Deflation dynamics in Sweden: perceptions, expectations, and adjustment during the deflations of and Klas Fregert and Lars Jonung; Part II. "Deflation, Silent Runs, and Bank Holidays, in the Great Contraction," NBER Working PapersNational Bureau of Economic Research, Inc.

Hugh Rockoff, " Deflation, Silent Runs, and Bank Holidays, in the Great Contraction," Departmental Working PapersRutgers University, Department of Economics. Deflation, silent runs, and bank holidays in the great contraction. In Richard C. Burdekin & Pierre L. Siklos (Eds.), Deflation: Current and Historical Perspectives (pp.

31 − 60). FEARS OF DEFLATION AND THE ROLE OF MONETARY POLICY --Deflation, silent runs, and bank holidays in the great contraction / Hugh Rockoff --Price change, financial stability, and the British economy, / Forrest Capie, Geoffrey Wood --Deflation dynamics in Sweden: perceptions, expectations, and adjustment during the deflations of   Deflation vs.

Disinflation: An Overview. Although they may sound the same, deflation should not be confused with ion is a decrease in.

PART ONE. FEARS OF DEFLATION AND THE ROLE OF MONETARY POLICY 2Deflation, Silent Runs, and Bank Holidays in the Great Contraction 31 Hugh Rockoff Separate Regions with Separate Banking Systems 31 The Role of Deflation 33 Silent Runs and Noisy Runs 38 The Banking Holidays 50 Regional Aspects of the Conflict Over Monetary Policy Rent or Buy Deflation: Current and Historical Perspectives - by Edited by Richard C.

Burdekin, Pierre L. Siklos for as low as $ at Voted #1 site for Buying Textbooks. Deflation, Silent Runs, and Bank Holidays, in the Great Contraction by Hugh Rockoff; Droughts, Floods and Financial Distress in the United States by John Landon-Lane & Hugh Rockoff & Richard H.

Steckel; Keep on Scrapping: The Salvage Drives of World War II by Hugh Rockoff. The debt-deflation theory. Since then there has been much analysis by economists of the Great Depression, why it happened and whether more could have been done to alleviate its affects.

A key economist of the time was Irving Fisher. He proposed the debt-deflation theory. In this he argued that there was a chain of events that created the crisis. Massive deflation helped turn the recession into the Great Depression. As unemployment rose, demand for goods and services fell.

The Consumer Price Index fell 27% between November to Marchaccording to the Bureau of Labor Statistics. A one-minute video explanation of deflation. Now as a consumer, you might think it's a good thing that prices are going down but deflation can end up becoming a .“Deflation, Silent Runs, and Bank Holidays in the Great Contraction.” In Deflation: Current and Historical Perspectives, edited by Richard C.

K. Burdekin, and Pierre L. Siklos. The fourth was between –33 when the rate of deflation was approximately 10 percent/year, part of the United States’ slide into the Great Depression, where banks failed and unemployment peaked at 25%.

The deflation of the Great Depression partly occurred because there was an enormous contraction of credit (money).