Financial Law and Risk Control
Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression
Ben S. Bernanke
- Year
- 1983
- Venue
- American Economic Review
- Level
- Introductory
Summary
Argues that the financial crisis intensified the Great Depression through nonmonetary channels by disrupting credit intermediation. The article emphasizes how banking distress, borrower quality information, and the cost of credit allocation affected output beyond changes in the money supply.
Citation
Ben S. Bernanke. "Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression." American Economic Review, 1983.
BibTeX
@article{Bernanke1983Nonmonetary,
title = {Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression},
author = {Ben S. Bernanke},
year = {1983},
journal = {American Economic Review},
url = {https://www.jstor.org/stable/1808111}
}