UCLA economists calculate – Meg Sullivan for the UCLA Newsroom

“‘Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump,’ said Ohanian, vice chair of UCLA’s Department of Economics. ‘We found that a relapse isn’t likely unless lawmakers gum up a recovery with ill-conceived stimulus policies.’”

New Deal Policies and the Persistence of the Great Depression: A General Equilibrium Analysis

- Harold L. Cole and Lee E. Ohanian