The Finnish Great Depression: From Russia with Love

Why did Finland experience, in 1991–1993, the deepest recession observed in an industrialized country since the 1930s? Using a dynamic general equilibrium model with labor frictions, we argue that the collapse of the Soviet-Finnish trade was a major contributor to the contraction. Finland's exp...

Full description

Saved in:
Bibliographic Details
Published in:The American economic review 2012-06, Vol.102 (4), p.1619-1643
Main Authors: Gorodnichenko, Yuriy, Mendoza, Enrique G., Tesar, Linda L.
Format: Article
Language:English
Subjects:
1991-1993
Consumption
Economic costs
Economic depression
Economic equilibrium models
Economic models
Economic recessions
Economic theory
Economics
Employment
Equilibrium
Exports
Finland
Finnland
GDP
Great Depression
Gross Domestic Product
Industrialized countries
Institutional change
Interest rates
International trade
Internationale Wirtschaft
Internationale Wirtschaftsbeziehungen
Investments
Labour market
Macroeconomic modeling
Macroeconomics
Manufacturing
Oil price shocks
Post-Soviet studies
Recession
Recessions
Reduction (Phonological or Phonetic)
Russia
Russland
Shipbuilding
Shorter Papers
Studies
Systemtransformation
Trade
Trade relations
Transition economies
Wage adjustments
Wirtschaftskrise
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!