Abstract
As Ben Bernanke (Chair of the US Federal Reserve System in 2012) commented: To understand the great depression is the Holy Grail of macroeconomics. Not only did the Depression give birth to macroeconomics as a distinct field of study, but also—to an extent that is not always fully appreciated—the experience of the 1930s continues to influence macroeconomists’ beliefs, policy recommendations, and research agendas.” (Bernanke 1995)
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Betz, F. (2014). The Great Depression. In: Why Bank Panics Matter. SpringerBriefs in Economics. Springer, Cham. https://doi.org/10.1007/978-3-319-01757-0_6
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DOI: https://doi.org/10.1007/978-3-319-01757-0_6
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