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Abstract:

Did macroeconomic interventions make any contribution to Argentina's recovery from the Great Depression? Macroeconomic policy deviated from gold-standard orthodoxy after the final suspension of convertibility in 1929. Fiscal policy was conservative. Monetary policy became unorthodox after 1931, when the Caja de Conversion began rediscounting to sterilize gold outflows and avoid deflation. This change predated the creation of the central bank in 1935. A wider literature links the interwar depression in the core to flaws in the gold standard, and active monetary policy to escape from deflation and slump; our work extends this idea to the periphery. © The Economic History Association. All rights reserved.

Registro:

Documento: Artículo
Título:Economic recovery from the argentine great depression: institutions, expectations, and the change of, macroeconomic regime
Autor:Paolera, G.D.; Taylor, A.M.
Filiación:Department of Economics, Universidad Torcuato Di Telia, Capital Federal, Buenos Aires 1428, Argentina
University of California, Davis, Argentina
National Bureau of Economic Research, Davis, CA 95616, United States
Department of Economics, University of California, One Shields Avenue, Davis, CA 95616, United States
Palabras clave:economic history; economic planning; economic policy; Great Depression; monetary policy; Argentina
Año:1999
Volumen:59
Número:3
Página de inicio:567
Página de fin:599
DOI: http://dx.doi.org/10.1017/S0022050700023494
Título revista:Journal of Economic History
Título revista abreviado:J. Econ. Hist.
ISSN:00220507
Registro:https://bibliotecadigital.exactas.uba.ar/collection/paper/document/paper_00220507_v59_n3_p567_Paolera

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Citas:

---------- APA ----------
Paolera, G.D. & Taylor, A.M. (1999) . Economic recovery from the argentine great depression: institutions, expectations, and the change of, macroeconomic regime. Journal of Economic History, 59(3), 567-599.
http://dx.doi.org/10.1017/S0022050700023494
---------- CHICAGO ----------
Paolera, G.D., Taylor, A.M. "Economic recovery from the argentine great depression: institutions, expectations, and the change of, macroeconomic regime" . Journal of Economic History 59, no. 3 (1999) : 567-599.
http://dx.doi.org/10.1017/S0022050700023494
---------- MLA ----------
Paolera, G.D., Taylor, A.M. "Economic recovery from the argentine great depression: institutions, expectations, and the change of, macroeconomic regime" . Journal of Economic History, vol. 59, no. 3, 1999, pp. 567-599.
http://dx.doi.org/10.1017/S0022050700023494
---------- VANCOUVER ----------
Paolera, G.D., Taylor, A.M. Economic recovery from the argentine great depression: institutions, expectations, and the change of, macroeconomic regime. J. Econ. Hist. 1999;59(3):567-599.
http://dx.doi.org/10.1017/S0022050700023494