Skip to main content
profile image
Selected Works of Luca Pensieroso
Article
The Great Depression in Belgium from a Neoclassical Perspective
Review of Economic Dynamics (2011)
  • Luca Pensieroso, Université catholique de Louvain
Link Find in your library
Abstract
This article casts the Belgian Great Depression of the 1930s within a dynamic stochastic general equilibrium (DSGE) framework. The results show that a DSGE model with total factor productivity and monetary shocks, coupled with sticky nominal wages à la Taylor is able to account reasonably well for most of the data on the Depression, but it overestimates real wages.
Keywords
  • Great Depression,
  • Belgium,
  • Sticky wages,
  • Dynamic stochastic general equilibrium
Disciplines
Publication Date
2011
Citation Information
Luca Pensieroso. "The Great Depression in Belgium from a Neoclassical Perspective" Review of Economic Dynamics (2011).