دورية أكاديمية
O.M.W. Sprague (the Man Who 'Wrote the Book' on Financial Crises) meets the Great Depression
| العنوان: | O.M.W. Sprague (the Man Who 'Wrote the Book' on Financial Crises) meets the Great Depression |
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| المؤلفون: | Rockoff Hugh |
| المصدر: | Jahrbuch für Wirtschaftsgeschichte, Vol 63, Iss 2, Pp 527-557 (2022) |
| بيانات النشر: | De Gruyter, 2022. |
| سنة النشر: | 2022 |
| المجموعة: | LCC:Economic history and conditions LCC:Economics as a science |
| مصطلحات موضوعية: | o.m.w. sprague, great depression, banking panic, financial crises, federal reserve, weltwirtschaftskrise, bankenpanik, finanzkrisen, geldpolitik, b 31, g 01, e 44, e 58, Economic history and conditions, HC10-1085, Economics as a science, HB71-74 |
| الوصف: | When the Great Depression struck the United States, O.M.W. Sprague was America’s foremost expert on financial crises. His History of Crises under the National Banking System is a frequently cited classic. Had he diagnosed a banking panic and called for an aggressive response by the Federal Reserve, it might have made a difference; but he did neither. Sprague’s misdiagnosis had, I argue, two causes. First, the crisis lacked the symptoms of a panic, such as high interest rates in the New York money market, which Sprague had identified from his studies of previous crises. Second, Sprague’s macro-economic ideas led him to conclude that increasing the stock of money would be of little help once a depression was underway. Sprague’s main concern was that abandoning the gold standard would intensify the crisis, a concern that led him to resign his position as advisor to the U.S. Treasury to protest Roosevelt’s gold policy. |
| نوع الوثيقة: | article |
| وصف الملف: | electronic resource |
| اللغة: | German English |
| تدمد: | 0075-2800 2196-6842 |
| Relation: | https://doaj.org/toc/0075-2800; https://doaj.org/toc/2196-6842 |
| DOI: | 10.1515/jbwg-2022-0018 |
| URL الوصول: | https://doaj.org/article/bb4627d828a047e1a7f358d826b5653d |
| رقم الأكسشن: | edsdoj.bb4627d828a047e1a7f358d826b5653d |
| قاعدة البيانات: | Directory of Open Access Journals |
Full Text Finder | تدمد: | 00752800 21966842 |
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| DOI: | 10.1515/jbwg-2022-0018 |