Brenner again

[William S. Lear]

On Wed, October 21, 1998 at 18:25:40 (-0400) Doug Henwood writes:
>...
>Wasn't there both a fiscal and monetary tightening in 1936-7, as rentier
>fears mounted of deficit-driven inflation, making the shift of 4.5 points
>in the fiscal stance intentional, not cyclical? I think Thomas Ferguson has
>a paper on this.

You might be thinking of Epstein and Ferguson, "Answers to Stock
Questions: Fed Targets, Stock Prices, and the Gold Standard in the
Great Depression", *Journal of Economic History*, 51, 1 (March 1991),
190-200.

... or maybe not.

Bill