Bernanke, Ben S. 1983. “Nonmonetary paydayloansindiana.org/cities/salem/ Outcomes of the latest Financial crisis on the Propagation of your Great Anxiety.” American Financial Opinion 73 Zero 3 (June): 257-276.
Reder, Melvin W. “ il Business economics: Permanence and alter.” Journal out of Economic Literature 20 No. 1 (February 1982): 1-38. Bernanke (1983, 257) states clearly, “today’s papers stimulates on Friedman-Schwartz really works…”
However your priors don’t enable you to believe him or her off one importance
Bernanke (1983, 257): “The essential site would be the fact, because places to own financial claims is incomplete, intermediation ranging from certain classes from consumers and you may loan providers means nontrivial market-making and suggestions-gathering properties.” And you can again in the p. 263: “We shall clearly never be seeking economies of kinds discussed because of the Eugene Fama (1980), where financial segments is actually done and recommendations/purchases will set you back would be neglected.”