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[]2006202213[],,3(:2006JDXM063)()20081FUDANJOURNAL(SocialSciences)No.1200830:(,200433)[],,,,,2030,;,30,,,30[]30,,18701913,,,19291933,,,,,1870191418,1879,:1920;1871,1897;1879;,,35,,19148,,55(1933),(),,,RonaldMcKinnon,:(1),,;(2),;(3),;(4),(BagehotsRule),;(5),,,;(6)(),,,,,,RonaldMcKinnon,,:,;,,,,,,,2030,;,;,,,,,1929,,2020,,,,,;,;,65BerryEichengreen,TheOriginsandNatureoftheGreatSlumpRevisited,TheEconomicHistoryReview,NewSeries45.2(1992):213-239.[]:,:,1991,493RonaldMcKinnon,TheRulesoftheGame:InternationalMoneyinHistoricalPerspective,JournalofEconomicLiterature31.1(1993):1-44.!202020,,,,,20,,1928,,,,,,,,,20,,20,,191919315%,2%,,,,,,1928,,,,,,,,,;,,1928355,000,19291,900,000,2020,201931,1925428,,3.404.866,,,,,,McKinnon(RestorationRule),,,1931,:,,,,75RonaldMcKinnon,TheRulesoftheGame:InternationalMoneyinHistoricalPerspective,JournalofEconomicLiterature31.1(1993):1-44.TheoBalderston,TheBeginningoftheDepressioninGerman,1927-30:InvestmentandtheCapitalMarket,EconomicHistoryRe2view36(1983):395-414.[]:,:,1991,493495PeterTemin,TransmissionoftheGreatDepression,JournalofEconomicPerspective7.2(1993):87-102.1926100,19299316,12147[]:,:,1991,495,,,;,,,2020,20,(theFrancPoincar)20,1928251,51,,1241,25.511,:,,20,,901,,1928,,192920,,,:,,;,,,,,,,,,,,,,,,,??,,,,,,,,,,,,,30:,85PeterTemin,TransmissionoftheGreatDepression,JournalofEconomicPerspective7.2(1993):87-102.BerryEichengreenandJeffreySachs,ExchangeRatesandEconomicRecoveryinthe1930s,TheJournalofEconomicHistory45.4(1985):925-946.[]:,:,1991,491,,,,19951997,,,:,,,;,,,,,,;,,,:30,,2030,,,20,:192912,,,,19319,19317,(),1933,1934159%,,,,,20,1934,19362030,95BerryEichengreen,GoldenFetters:TheGoldStandardandtheGreatDepression(NewYork:OxfordUniversityPress,1992):98.PeterGarber,andVittorioGrilli,BankRunsinOpenEconomiesandtheInternationalTransmissionofPanics,JournalofInternationalEconomics27(1989):165-175.1I.+-00-II.++/-+/-+/-+/-III.:++00-IV.:00000:BerryEichengreenandJeffreySachs,1985,ExchangeRatesandEconomicRecoveryinthe1930s,TheJournalofEconomicHistory,Vol.45,Iss.4,December,pp.925-946.EichengreenandSachs,:,,(1),,,Romer,30GNP:t=m()t-1+f()t-1+t,mf,t:19331942;,:,1942GNP50%,(12),19331937(M1)10%,40,1933193719381941GNP8%10%119331942219331942:ChristinaRomer,1992,WhatEndedtheGreatDepression,TheJournalofEconomicHistory,Vol.52,No.4,Dec.,pp.757-784.06U.S.BureauofEconomicAnalysis,NationalIncomeandProductAccounts,1929-1982(WashingtonD.C.,1986):6.ChristinaRomer,WhatEndedtheGreatDepression,TheJournalofEconomicHistory52.4(1992):757-784.BerryEichengreen,andJeffreySachs,ExchangeRatesandEconomicRecoveryinthe1930s,TheJournalofEconomicHistory45.4(1985):925-946.,,,,2030,,,,,19291932,,,,30,,ReviewtheGreatDepressionfromtheGoldStandardPerspective:Causes,TransmissionandRecoveryLUHan2yin(InstituteofWorldEconomy,FudanUniversity,Shanghai200433,China)Abstract:ThispaperexaminestheGreatDepressionfromanAS2ADmodelandemphasizesthatthemonetaryfactor,especiallythegoldstandardwhichwasnotappropritelyrestoredaftertheFirstWorldWar,isamainnegativecauseintriggeringandtransmittingthegreatdepressionthroughouttheworld.Theconceptionsofgoldstandard,traditionalparityandbudgetbalanceweretreasuredlegacyfromclassicalthoughtsofeconomics,anditcostsomuchtochallengethem,partlyduetothepathdependence.Althoughgoldstandardisfarawayfromus,itisstillmeaningfulandworthwhiletoknowtheeffectsofthemonetarypolicyonmacroeconomicper2formances,potentialtransmissionmechanisminafinancialcrisis,andothervaluablemeasuresindealingwithatypicaldepression.Keywords:goldstandard;greatdepression;cause;spreadandrevival[]16