Transcript Non Monetary affects of the Financial Crisis during Great

Non Monetary affects of the Financial Crisis during Great
Depression – Ben S Bernanke (The Missing Table)
1929-33 Bank Runs- USA
Source: A Monetary History of the United States, 18671960 (1963) by Milton Friedman and Anna J. Schwartz.
Year to Year percentage changes
Year Ending Real GDP
Price Level Bank Deposits Reserves
1929
5.9
2
-1.4
-3.1
1930
-9.3
-4
-4.7
4.3
1931
-8
-8.8
-20.6
-5.9
1932
-14.1
-9
-11.3
2.2
1933
-2.1
-2.6
-11.6
7.8
1934
7.4
7.7
16
35.8
Courtesy: MIT Open Courseware