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Despite assertions to the contrary, the New Deal’s fiscal policies were key to ending the Great Depression

Vernengo, Matías (2014) Despite assertions to the contrary, the New Deal’s fiscal policies were key to ending the Great Depression. LSE American Politics and Policy (02 Apr 2014). Website.

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Abstract

In the years following the financial crisis of 2008, many policymakers have turned to the recovery that led the West out of the Great Depression in the 1930s for inspiration of how to address current problems. While many have re-interpreted the policy actions of that period to emphasize the role of monetary over fiscal policy in the recovery, Matías Vernengo urges caution. He argues that while much analysis asserts that expansionary monetary policy led to increased private consumption and investment, low rates from the Fed also made increased public spending more sustainable, thus leading to positive effects on GDP and employment.

Item Type: Online resource (Website)
Official URL: http://blogs.lse.ac.uk/usappblog/
Additional Information: © 2014 The Author; Online
Divisions: LSE
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
Sets: Collections > LSE American Politics and Policy (USAPP) Blog
Date Deposited: 11 Aug 2014 09:13
Last Modified: 05 Sep 2020 23:10
URI: http://eprints.lse.ac.uk/id/eprint/58829

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