What Ended the Great Depression? Re-Evaluating the Role of Fiscal Policy

Conventional wisdom contends that fiscal policy was of secondary importance for the economic recovery in the 1930s. The recovery is then connected to monetary policy that allowed non-sterilised gold inflows to increase the money supply. Often this is shown by measuring the fiscal multipliers and demonstrating that they were relatively small. This paper shows that problems with the conventional measures of fiscal multipliers in the 1930s may have created an incorrect consensus on the irrelevance of fiscal policy. The rehabilitation of fiscal policy is seen as a necessary step in the reinterpretation of the positive role of New Deal policies for the recovery.

Public Speaking Anxiety, Test Anxiety, and Academic Achievement in Undergraduate Students

Public speaking anxiety and test anxiety are both psychological difficulties which may adversely influence academic achievement in undergraduate students. Previous research has indicated that both public speaking anxiety and test anxiety are negatively correlated with academic performance, usually measured by grade point average. The purpose of this study was to assess the prevalence of public speaking anxiety, test anxiety, and their effects on academic achievement in a sample of undergraduate students, and to determine if certain groups of students are more likely to be affected than others. Although test anxiety and public speaking anxiety were both found to be negatively correlated with grade point average, these correlations were not statistically significant. Potential reasons for the lack of statistical congruence with previous studies, as well as implications for future research and treatment, are discussed.