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Post–World War I Recession
The post–World War I recession was an economic recession that hit much of the world in the aftermath of World War I. In many nations, especially in North America, economic growth continued and even accelerated during World War I as nations mobilized their economies to fight the war in Europe. After the war ended, the global economy began to decline. In the United States, 1918–1919 saw a modest economic retreat, but the second part of 1919 saw a mild recovery. A more severe recession hit the United States in 1920 and 1921, when the global economy fell very sharply. North America In North America, the recession immediately following World War I was extremely brief, lasting for only seven months from August 1918 (even before the war had actually ended) to March 1919. A second, much more severe recession, sometimes labeled a depression, began in January 1920. Several indices of economic activity suggest the recession was moderately severe. The Axe-Houghton Index of Tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Recession
In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a large-scale anthropogenic or natural disaster (e.g. a pandemic). In the United States, a recession is defined as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." The European Union has adopted a similar definition. In the United Kingdom, a recession is defined as negative economic growth for two consecutive quarters. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply and decreasing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Papiermark
The Papiermark (; 'paper mark', officially just ''Mark'', sign: ℳ) was the German currency from 4 August 1914 when the link between the Goldmark and gold was abandoned, due to the outbreak of World War I. In particular, the Papiermark was the currency issued during the hyperinflation in Germany of 1922 and 1923. History From 1914, the value of the mark fell. The rate of inflation rose following the end of World War I and reached its highest point in October 1923. The currency stabilized in November 1923 after the announcement of the creation of the Rentenmark, although the Rentenmark did not come into circulation until 1924. When it did, it replaced the Papiermark at the rate of 1 trillion (1012)-ℳ to RM1. On 30 August 1924 the Rentenmark was replaced by the Reichsmark. In addition to the issues of the government, emergency issues of both tokens and paper money, known as ''Kriegsgeld'' (war money) and ''Notgeld'' (emergency money), were produced by local authorities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recessions
In economics, a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a large-scale anthropogenic or natural disaster (e.g. a pandemic). In the United States, a recession is defined as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." The European Union has adopted a similar definition. In the United Kingdom, a recession is defined as negative economic growth for two consecutive quarters. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply and decreasing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Monetary Economics
The ''Journal of Monetary Economics'' is a peer-reviewed academic journal covering research on macroeconomics and monetary economics. It is published by Elsevier and was established in October 1973 by Karl Brunner and Charles I. Plosser. Beginning in 2002, it was merged with the ''Carnegie-Rochester Conference Series on Public Policy''. The latter series was established in 1976 and had been published independently, originally by the North-Holland Publishing Company, now an imprint of Elsevier. According to the ''Journal Citation Reports'', the journal has a 2021 impact factor of 4.63. Since 2022, its editors are Boragan Aruoba and Yuriy Gorodnichenko. It is widely regarded as one of the most prestigious academic journals in economics and was ranked as top 10 among all economics journals in 2008. See also * List of economics journals The following is a list of scholarly journals in economics containing most of the prominent academic journals in economics. Popular magazines ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Chicago Press
The University of Chicago Press is the largest and one of the oldest university presses in the United States. It is operated by the University of Chicago and publishes a wide variety of academic titles, including ''The Chicago Manual of Style'', numerous academic journals, and advanced monographs in the academic fields. One of its quasi-independent projects is the BiblioVault, a digital repository for scholarly books. The Press building is located just south of the Midway Plaisance on the University of Chicago campus. History The University of Chicago Press was founded in 1890, making it one of the oldest continuously operating university presses in the United States. Its first published book was Robert F. Harper's ''Assyrian and Babylonian Letters Belonging to the Kouyunjik Collections of the British Museum''. The book sold five copies during its first two years, but by 1900 the University of Chicago Press had published 127 books and pamphlets and 11 scholarly journals, includ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dawes Plan
The Dawes Plan (as proposed by the Dawes Committee, chaired by Charles G. Dawes) was a plan in 1924 that successfully resolved the issue of World War I reparations that Germany had to pay. It ended a crisis in European diplomacy following World War I and the Treaty of Versailles. The plan provided for an end to the Franco-Belgian occupation of the Ruhr, and a staggered payment plan for Germany's payment of war reparations. Because the Plan resolved a serious international crisis, Dawes shared the Nobel Peace Prize in 1925 for his work. The Dawes Plan was put forward and was signed in Paris on August 16, 1924. This was done under the Foreign Secretary of Germany, Gustav Stresemann. Stresemann was Chancellor after the Hyperinflation Crisis of 1923 and was in charge of getting Germany back to its global reputation for being a fighting force. However, he resigned from his position as Chancellor in November 1923 while remaining Foreign Secretary of Germany. Background: World Wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aftermath Of World War I
The aftermath of World War I saw drastic political, cultural, economic, and social change across Eurasia, Africa, and even in areas outside those that were directly involved. Four empires collapsed due to the war, old countries were abolished, new ones were formed, boundaries were redrawn, international organizations were established, and many new and old ideologies took a firm hold in people's minds. World War I also had the effect of bringing political transformation to most of the principal parties involved in the conflict, transforming them into electoral democracies by bringing near-universal suffrage for the first time in history, as in Germany ( 1919 German federal election), Great Britain (1918 United Kingdom general election), and Turkey ( 1923 Turkish general election). Blockade of Germany Through the period from the Armistice of 11 November 1918 until the signing of the Treaty of Versailles with the Weimar Republic on 28 June 1919, the Allies maintained the naval blo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The ''Journal'' has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The ''Journal'' is regarded as a newspaper of record, particularly in terms of business and financial news. The newspaper has won 38 Pulitzer Prizes, the most recent in 2019. ''The Wall Street Journal'' is one of the largest newspapers in the United States by circulation, with a circulation of about 2.834million copies (including nearly 1,829,000 digital sales) compared with ''USA Today''s 1.7million. The ''Journal'' publishes the luxury news and lifestyle magazine ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Brookings Institution
The Brookings Institution, often stylized as simply Brookings, is an American research group founded in 1916. Located on Think Tank Row (Washington DC), Think Tank Row in Washington, D.C., the organization conducts research and education in the social sciences, primarily in economics (and tax policy), metropolitan policy, governance, foreign policy, global economy, and economic development. Its stated mission is to "provide innovative and practical recommendations that advance three broad goals: strengthen American democracy; foster the economic and social welfare, security and opportunity of all Americans; and secure a more open, safe, prosperous, and cooperative international system." Brookings has five research programs at its Washington campus: Economic Studies, Foreign Policy, Governance Studies, Global Economy and Development, and Metropolitan Policy. It also established and operated three international centers in Doha, Qatar (Brookings Doha Center); Beijing, China (Brooking ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Barro
Robert Joseph Barro (born September 28, 1944) is an American macroeconomist and the Paul M. Warburg Professor of Economics at Harvard University. Barro is considered one of the founders of new classical macroeconomics, along with Robert Lucas, Jr. and Thomas J. Sargent. He is currently a senior fellow at Stanford University's Hoover Institution and co-editor of the influential ''Quarterly Journal of Economics''. Academic career Barro graduated with a B.S. in physics from the California Institute of Technology in 1965, where he learned under Richard Feynman, but he realized he "wouldn't be close to the top in those fields." He then turned to economics and earned a PhD from Harvard University in 1970. He first reached wide notice with a 1974 paper, "Are Government Bonds Net Wealth?" It argued that under certain assumptions, present governmental borrowing would be matched by increased bequests to future generations to pay future taxes expected to pay down the government bonds; thus a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spanish Flu
The 1918–1920 influenza pandemic, commonly known by the misnomer Spanish flu or as the Great Influenza epidemic, was an exceptionally deadly global influenza pandemic caused by the H1N1 influenza A virus. The earliest documented case was March 1918 in Kansas, United States, with further cases recorded in France, Germany and the United Kingdom in April. Two years later, nearly a third of the global population, or an estimated 500 million people, had been infected in four successive waves. Estimates of deaths range from 17 million to 50 million, and possibly as high as 100 million, making it one of the deadliest pandemics in history. The pandemic broke out near the end of World War I, when wartime censors suppressed bad news in the belligerent countries to maintain morale, but newspapers freely reported the outbreak in neutral Spain, creating a false impression of Spain as the epicenter and leading to the "Spanish flu" misnomer. Limited historical epidemiological ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
