Discussion Paper Details

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Title: A Heliocentric Journey into Germany's Great Depression

Author(s): Mark Weder

Publication Date: January 2004

Keyword(s): applied dynamic general equilibrium, germany, great depression and indeterminacy

Programme Area(s): International Macroeconomics

Abstract: The Paper finds empirical evidence on the ripple effect of sunspots on the interwar German economy. It identifies a sequence of negative shocks to expectations for the 1927-32 period. The artificial economy predicts the 1928-32 depression and a long boom from 1933 onwards. Overall, a tangible fraction of interwar output volatility is attributed for by sunspots.

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Bibliographic Reference

Weder, M. 2004. 'A Heliocentric Journey into Germany's Great Depression'. London, Centre for Economic Policy Research.