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A Tale of Two Depressions David F. Ruccio & Ben Giamo Spring 2014

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Page 1: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure

A Tale of Two Depressions David F. Ruccio & Ben Giamo

Spring 2014

Page 2: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure

World: Then and Now

Page 3: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure

United States: Then and Now

Page 4: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 5: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 6: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 7: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure

First Great Depression

Page 8: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 9: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 10: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 11: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure

Second Great Depression

Page 12: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 13: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 14: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 15: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
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Page 17: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 18: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 19: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
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Page 21: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 22: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 23: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 24: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
Page 25: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
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Page 27: David F. Ruccio & Ben Giamodruccio/Tale.pdf · — June 1929=100 April 2008=100 Figure 1. World industrial production, now vs then Months Since peak June lg2g=100 April 2009=100 Figure
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!   Barry Eichengreen, Kevin Hjortshøj O’Rourke, “A Tale of Two Depressions Redux” (6 March 2012) http://www.voxeu.org/article/tale-two-depressions-redux

!   World Top Incomes Databasehttp://topincomes.g-mond.parisschoolofeconomics.eu/

!   Federal Reserve Economic Data (St. Louis Fed)http://research.stlouisfed.org/fred2/

!   Jobs Gap calculator (Hamilton Project) http://www.hamiltonproject.org/jobs_gap/

Sources