EH.Net Abstracts in Economic History

            EHS Abstract Submission
                    (c) 1997 Academic Press and EH.Net
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              Name:  Benjamino Quintieri
               Email:  author at eh.net
         Institution:  University of Rome  

         Co-author:  None
 
             Title:  Italy and the Great Depression:  An Analysis
of the Italian Economy, 1929-1936  

  Internet Address
of abstracted work:  Not available on the Internet  

           By mail: 
                         Benjamino Quintieri
                         Universita di Roma "Tor Vergata"
                         Facolta di Economia
                         Via di Tor Vergata snc
                         00133 Roma 
                         Italy           
                     
 
          Language:  English
 
          Abstract:
  We study the performance of the Italian economy during the
period 1929-1936 using monthly data.  The main contention of the
paper is that the Italian depression, comparable to that of other
major industrialized countries, was the combined result of a
contraction in world demand and of the restrictive monetary
policies imposed by the rules of the Gold Standard.  The results
obtained through the estimation of a series of structural VAR
models are consistent with this view and indicate also that
deflation affected output mainly by increasing real wages.  We do
not find evidence, however, of the role of financial factors as a
major independent determinant of the depression.
 
      Bibliography:  Quintieri, Benjamino. "Italy and the Great
Depression:  An Analysis of the Italian Economy, 1929-1936,"
Explorations in Economic History (April 1997).

 
                  Subject:  H
 Geographical Area:  4
      Country/Region:  Italy
           Time Period:  8