The prelude and global impact of the Great Depression: Evidence from a new macroeconomic dataset
Based on a novel dataset of about 1150 time series, this study provides monthly economic activity estimates for 28 countries during the Great Depression. Due to their high frequency, the indices reveal that steady growth was far from universal even in the second half of the 1920s. Monetary and financial instability, agricultural crises, and labor conflict continued to plague economies around the g