Ben Bernanke

Ben Bernanke has described the discovery of the causes of the great depression as the "Holy Grail of macroeconomics. He has written extensively on the subject, drawing upon evidence of its incidence outside the United States to test and evaluate the rival theories . He has concluded that the evidence gives "much support for the monetary view" as put forward by Friedman and Schwartz, but that it does not provide a complete explanation. His own extension of their findings is advanced in the second chapter of his book of essays, under the title of "Nonmonetary Effects of the Financial Crisis and the Propagation of the Great Depression"