David Andolfatto links to this study which concludes that fiscal stimulus was ineffective in the interwar period, which provides a counterweight to the Romer study I recently mentioned which draws the opposite conclusion. I don't know either paper well enough to identify the source of the disagreement.
Lots of good interwar material out there. Most people are probably going to focus on the Great Depression, but remember the intricacies of the 1920-1921 period fall in this range too.
How did this happen?
6 hours ago