caa a22 4500 388069724 CHVBK 20180307125144.0 cr unu---uuuuu 161130e199909 xx s 000 0 eng 10.1017/S0022050700023494 doi S0022050700023494 pii (NATIONALLICENCE)cambridge-10.1017/S0022050700023494 Economic Recovery from the Argentine Great Depression: Institutions, Expectations, and the Change of Macroeconomic Regime [Elektronische Daten] Did macroconomic interventions make any contribution to Argentina's revovery from the Great Depression? Macroeconomic policy deviated from gold-standard orthodoxy after the final suspension of convertibility in 1929. Fiscal policy was conservative. Monetary policy became unorthodox after 1931, when the Caja de conversión began rediscounting to sterilize gold outflows and avoid deflation. This change predated the creation of the central bank in 1935. A wider literature links the interwar depression in the core to flaws in the gold standard, and active monetary policy to escape from defaltion and slump; our work extends this idea to the periphery. Copyright © The Economic History Association 1999 Paolera Gerardo Della Rector and Professor of Economics at Universidad Torcuato Di Tella. Address: Miñ ones 2159/77, Capital Federal, Buenos Aires 1428, Argentina. Telephone: (+54)114-784-3386. Fax: (+54) 114-784-0089. Email: gerardo@utdt.edu.ar. Taylor Alan M. Associate Professor at the University of California at Davis and a Faculty Research Fellow at the National Bureau of Economic Research. Address: Department of Economics, University of California, One Shields Avenue, Davis, CA 95616. Telephone: 530-752-1572. Fax: 530-752-9382. Email: amtaylor@ucdavis.edu. The Journal of Economic History Cambridge University Press 59/3(1999-09), 567-599 0022-0507 59:3<567 1999 59 JEH https://doi.org/10.1017/S0022050700023494 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S0022050700023494 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Paolera Gerardo Della Rector and Professor of Economics at Universidad Torcuato Di Tella. Address: Miñ ones 2159/77, Capital Federal, Buenos Aires 1428, Argentina. Telephone: (+54)114-784-3386. Fax: (+54) 114-784-0089. Email: gerardo@utdt.edu.ar NATIONALLICENCE 700 1- Taylor Alan M. Associate Professor at the University of California at Davis and a Faculty Research Fellow at the National Bureau of Economic Research. Address: Department of Economics, University of California, One Shields Avenue, Davis, CA 95616. Telephone: 530-752-1572. Fax: 530-752-9382. Email: amtaylor@ucdavis.edu NATIONALLICENCE 773 0- The Journal of Economic History Cambridge University Press 59/3(1999-09), 567-599 0022-0507 59:3<567 1999 59 JEH CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence SWISSBIB 076461017 BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge