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Original Article

Federal Reserve policy and the recession of 1937-1938: let's not ignore Telser's analysis

Pages 591-600 | Published online: 09 Dec 2014

References

  • Bernanke, B. S. "Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression." American Economic Review, June 1983, 73 (3), 257-276.
  • Cargill, T. F., and Mayer, T. "The Effect of Changes in Reserve Requirements During the 1930's: The Evidence from Nonmember Banks." Journal of Economic History, June 2006, 66 (2), 417-432.
  • Federal Deposit Insurance Corporation. "Assets and Liabilities of Operating Insured Banks." Report no. 5, Washington DC, June 1936.
  • Federal Deposit Insurance Corporation. "Assets and Liabilities of Operating Insured Banks." Report no. 7, Washington DC, June 1937.
  • Friedman, M., and Schwartz, A. J. A Monetary History of the United States, 1867-1960. Princeton: Princeton University Press, 1963.
  • Meltzer, A. H. A History of the Federal Reserve, Volume I: 1913-1951. Chicago: University of Chicago Press, 2003.
  • Mishkin, F. The Economics of Money, Banking & Financial Markets, 9th ed. Boston: Addison-Wesley, 2010.
  • Stauffer, R. F. "Another Perspective on the Reserve Requirement Increments of 1936 and 1937." Journal of Post Keynesian Economics, Fall 2002, 25 (1), 161-179.
  • Telser, L. G. "On the Great Depression." Working Paper no. 130, Center for the Study of the Economy and the State, University of Chicago, 1996.
  • Telser, L. G. "Higher Member Bank Reserve Ratios in 1936 and 1937 Did Not Cause the Relapse into Depression." Journal of Post Keynesian Economics, Winter 2001-2, 24 (2), 205-216.
  • Telser, L. G. "The Veteran's Bonus of 1936." Journal of Post Keynesian Economics, Winter 2003-4, 26 (2), 227-243.
  • U. S. Board of Governors. Banking and Monetary Statistics. Washington, DC: National Capital Press, 1943.

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