A note on interest rate policy during the Great Depression
Virén, Matti (12.01.1989)
Numero
2/1989Julkaisija
Bank of FinlandSuomen Pankki
1989
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-201807301753Tiivistelmä
This paper presents some analyses of interest rate determination in six industrialized countries during the Great Depression. The main finding of the paper is that the huge real interest rate shocks experienced during that time were mainly due to policy actions by central banks.