Made in Germany: The German Currency Crisis of July, 1931

  title={Made in Germany: The German Currency Crisis of July, 1931},
  author={T. Ferguson and P. Temin},
  journal={MIT Economics Department Working Paper Series},
  • T. Ferguson, P. Temin
  • Published 2001
  • Economics
  • MIT Economics Department Working Paper Series
  • The Great Depression reached a turning point in the currency crises of 1931, and the German banking and currency crisis was a critical event whose causes are still debated. We demonstrate in this paper that the crisis was primarily domestic in origin; that it was a currency crisis rather than a banking crisis; and that the failure was more political than economic. German banks failed in 1931, but the problem was not primarily with them. Instead, the crisis was a failure of political will in a… CONTINUE READING
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