The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Great Depression (Mechanisms)

  • Lee E. Ohanian
Reference work entry


This article summarizes the theoretical framework and the diagnostic procedures that economists use to construct and test theories of depressions and booms, and also summarizes recent applications of these procedures to well-known depressions.


Balanced growth Banking crises Euler equations Great Depression Growth models Optimal growth theory Real business cycles 

JEL Classifications

D4 D10 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Lee E. Ohanian
    • 1
  1. 1.