Research Discussion Paper – RDP 1999-06 Two Depressions, One Banking Collapse

Contents

• Introduction
• Two Depressions: Output and Banking
• A Comparison of Indicators of Financial System Stability
• Real Macroeconomic Features of the Two Depressions
• Discussion and Concluding Remarks
• Appendix A: Data Sources and Descriptions
• Appendix B: Additional Data
• References

We would like to thank Philip Lowe, Marianne Gizycki, David Merrett, Bryan Fitz-Gibbon, David Gruen and Peter Stebbing for helpful suggestions. Thanks to David Merrett and David Pope for early advice and encouragement. Thanks also to Adrian McMahon for help in preparing this document. Any remaining errors are our own. The views expressed are those of the authors and should not be attributed to the Reserve Bank of Australia.