English, Article edition: The Great Depression in Italy: Trade Restrictions and Real Wage Rigidities Fabrizio Perri; Vincenzo Quadrini

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Bookmark: http://trove.nla.gov.au/version/112239
Physical Description
  • article
Language
  • English

Edition details

Title
  • The Great Depression in Italy: Trade Restrictions and Real Wage Rigidities
Author
  • Fabrizio Perri
  • Vincenzo Quadrini
Physical Description
  • article
Notes
  • In Italy, as in many other countries, the years immediately after 1929 were characterized by a major slowdown in economic activity. We argue that the depth and duration of the crisis cannot be explained solely by productivity shocks. We present a model in which trade restrictions together with wage rigidities produce a significant slowdown in economic activity. The model is also consistent with evidence from sectoral disaggregated data. Our model predicts that trade restrictions can account for about one-half of the slowdown observed in the data while real wage rigidities can account for one-fourth of it. (Copyright: Elsevier)
  • Great Depression; Italy; trade
  • RePEc:red:issued:v:5:y:2002:i:1:p:128-151
Language
  • English
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