Sunday, February 5, 2012

1920-1921 on Youtube

Posted by dkuehn at 8:21 PM
(HT - LK)



Great to see this! I like to think this guy might have been influenced by my paper. He talks about tbe technical reason why the Fed used the discount rate rather than open market operations in the 1920-1921 depression, which is a little piece of arcana I haven't seen in any in the discussion of 1920-1921 except my RAE paper.

3 comments:

  1. AnonymousFebruary 5, 2012 at 9:05 PM

    Strokin' LOL

    ReplyDelete
  2. Lord KeynesFebruary 5, 2012 at 10:10 PM

    Another good point he makes is about the positive supply shock in labour: the civilian labour force grew by 4.3% in 1920, by immigration and demobilized soldiers, contributing to unemployment.

    ReplyDelete
  3. Desolation JonesFebruary 5, 2012 at 11:30 PM

    "I like to think this guy might have been influenced by my paper. "

    He links your paper as a source in the youtube description if you didn't notice.

    ReplyDelete

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