Undervaluing the franc Poincaré<sup>1</sup>

Mouré, Kenneth

doi:10.1111/j.1468-0289.1996.tb00561.x

Cited by 4 publications

(4 citation statements)

References 6 publications

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“…These policies were both politically popular and were a logical response to the French socialist party's (the SFIO's) understanding of the Great Depression (Bernard and Dubief , Jackson , Margairaz , Mouré ). Blum's government hoped that higher purchasing power and more leisure time would raise consumption demand.…”

Section: The Great Depression and The Popular Frontmentioning

confidence: 99%

“…However, the Blum government soon faced a choice between its expansionary objectives and its commitment to an overvalued Franc. Under pressure from the government, between June 23 and July 9, 1936 the Bank of France lowered its discount rate from 6% to 3% (Mouré ). This was not accompanied by a large increase in the money supply.…”

Section: The Great Depression and The Popular Frontmentioning

confidence: 99%

“…For further discussion of the Great Depression in France, see Eichengreen (), Mouré (), and Beaudry and Portier ().…”

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confidence: 99%

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Supply‐Side Policies in the Depression: Evidence from France

Cohen-Setton¹,

Hausman²,

Wieland³

2017

J of Money Credit Banking

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The effects of supply‐side policies in depressed economies are controversial. We shed light on this debate using evidence from France in the 1930s. In 1936, France departed from the gold standard and implemented mandatory wage increases and hours restrictions. Deflation ended but output stagnated. We present time‐series and cross‐sectional evidence that these supply‐side policies, in particular the 40‐hour law, contributed to French stagflation. These results are inconsistent both with the standard one‐sector New Keynesian model and with a medium scale, multisector model calibrated to match our cross‐sectional estimates. We conclude that the New Keynesian model is a poor guide to the effects of supply‐side shocks in depressed economies.

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Section: The Great Depression and The Popular Frontmentioning

confidence: 99%

Section: The Great Depression and The Popular Frontmentioning

confidence: 99%

See 1 more Smart Citation

Supply‐Side Policies in the Depression: Evidence from France

Cohen-Setton¹,

Hausman²,

Wieland³

2017

J of Money Credit Banking

View full text Add to dashboard Cite

show abstract

“…6 For Germany, see e.g. Hardach (1974); for Belgium, Henau (1995); for France Mouré (1991). 7 For more details about Kemmerer's work, see Dalgaard (1982).…”

Section: Notesmentioning

confidence: 99%